| The KUIK Market Update for Monday, February 24: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 153 | points | 16,234 | 7:50 AM | ||
| S&P500 | Up | 0.94% | percent | 1,854 | 17.27 | ||
| Nasdaq Composite | Up | 0.93% | percent | 4,303 | 39.73 | ||
| 30 Year Treasury | Up | 0 | Basis Points | 3.70 | Annual Yield | ||
| Markit’s US services index fell in February to the lowest level in four months, with lower readings for employment and new business. The index was 52.7 in February, down from 56.7 in January. Readings above 50 indicate an expansion. Markit blames the slowdown on unusually severe winter weather. | |||||||
| In overseas markets, Shanghai real estate prices hurt the Shanghai Composite down 1.6% Hong Kong’s Hang Seng Index down 0.9%. New-home-price data in Shanghai was released at the market open. Average home prices are up 0.4% in January for a 9% gain from the year-earlier period. But the market is seeing the start of tighter loan conditions and discounting of projects. Agile Property was a big loser, down 8.3%. | |||||||
| March natural gas dropped 4.6%, to $5.85 per million British thermal units on the New York Mer. It traded as high as $6.49 in electronic trading overnight. Last week, prices rallied 18% as forecasts for more cold weather in the U.S. raised expectations of a supply drawdown. March crude oil rose 0.1%, $102.34 a barrel on the Nymex after trading as low as $101.97. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-markit-services-gauge-hits-four-month-low-2014-02-24 | |||||||
| http://blogs.marketwatch.com/thetell/2014/02/23/asia-markets-live-blog-stocks-move-off-lows/ | |||||||
| http://www.marketwatch.com/story/natural-gas-rises-1-oil-gains-solarcity-to-report-2014-02-24?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||