The KUIK Morning Market Report for Tuesday, September 24: |
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Markets have opened mixed. |
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Index |
Direction |
Change |
Units |
Last |
Time |
Change |
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Dow |
Down |
(31) |
points |
15,369 |
7:04 AM |
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S&P500 |
Down |
-0.27% |
percent |
1,697 |
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(4.66) |
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Nasdaq Composite |
Down |
-0.15% |
percent |
3,760 |
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(5.75) |
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30 Year Treasury |
Down |
(2) |
Basis Points |
3.72 |
Annual Yield |
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S&P reported U.S. home prices in July rose at the smallest monthly pace since March as fifteen cities out of the twenty tracked by the S&P/Case-Shiller Housing Index saw slower growth as higher mortgage rates are hitting the housing market. Home prices grew 12.4% annually in July, the fastest pace since 2006 but home prices in were about 21% below their 2006 peak. |
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Tech stocks were in mixed territory in early trading. Apple rose slightly, and Facebook is up by 2% on rating upgrades. Red Hat is down, with the open-source software company’s stock falling more than 11% on weak sales. Applied Materials shares rose 7.5%, to $17.19, after the semiconductor equipment maker said it would merge with Tokyo Electron. Applied is paying $9.39 billion in stock in the largest deal for a Japanese company from outside the country in six years. |
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Consumer confidence was just released. It was 79.7 in September, down frm 81.8 in August, in line with expectations. |
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Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. |
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http://www.marketwatch.com/story/home-price-growth-edging-down-case-shiller-says-2013-09-24 |
http://www.marketwatch.com/story/apple-facebook-lead-mild-tech-gains-2013-09-24?link=MW_story_latest_news |
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For today’s Morning Market Report click to listen-> |
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