Morning Market Report 9/24/2013

The KUIK Morning Market Report for Tuesday, September 24:
Markets have opened mixed.
Index Direction Change Units Last Time Change
Dow Down                    (31) points           15,369 7:04 AM
S&P500 Down -0.27% percent             1,697            (4.66)
Nasdaq Composite Down -0.15% percent             3,760            (5.75)
30 Year Treasury Down                      (2) Basis Points               3.72 Annual Yield
 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. 
 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. 
Consumer confidence was just released.  It was 79.7 in September, down frm 81.8 in August, in line with expectations.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
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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