| The KUIK Morning Market Report for Monday, February 24: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 132 | points | 16,234 | 6:59 AM | ||
| S&P500 | Up | 0.80% | percent | 1,851 | 14.69 | ||
| Nasdaq Composite | Up | 0.74% | percent | 4,295 | 31.66 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.69 | Annual Yield | ||
| Markit’s 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. Among the losers, China Overseas fell 3.8%, China Resources Land off 5.5%, and Agile Property down 8.3%. | |||||||
| That sell off in China affected European stocks, which fell from a six-year high. The Stoxx Europe 600 index fell 0.3% to 335.22 after closing at the highest level since January 2008 on Friday. | |||||||
| 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/european-stocks-fall-from-six-year-high-hsbc-weighs-2014-02-24 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||