| The KUIK Market Update for Thursday, March 20: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 38 | points | 16,260 | 8:07 AM | ||
| S&P500 | Up | 0.19% | percent | 1,864 | |||
| Nasdaq Composite | Up | 0.10% | percent | 4,312 | |||
| 30 Year Treasury | Down | (1) | Basis Points | 3.66 | Annual Yield | ||
| Fed Chairman Janet Yellen in her first press conference yesterday was asked a question about how long the Fed would wait after the tapering of bond buying ends before it begins to raise rates. She said it probably means something “around six months,” which investors took to mean April or May 2015, versus previous expectations of a hike towards the end of 2015. Stock and commodity markets sold off yesterday and at the open today on that news. | |||||||
| The Philadelphia Fed’s manufacturing index rebounded to a reading of 9.0 in March from a negative 6.3 reading in February. Economists expected 3.5. The increase retraces almost all of the sharp drop in February, suggesting that the impact of severe winter weather will not last long. The index stood at 9.4 in January. | |||||||
| The rate on the 30-year fixed-rate mortgage fell to 4.32% down from 4.37% in the week ended March 20 according to Freddie Mac. The 15-year fixed fell to 3.32%, down from 3.38%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/silver-copper-hit-hard-gold-also-down-in-feds-wake-2014-03-20?dist=markets | |||||||
| http://www.marketwatch.com/story/philly-fed-manufacturing-rebounds-in-march-2014-03-20?link=MW_Nav_EP | |||||||
| http://www.marketwatch.com/story/30-year-fixed-rate-slips-to-432-freddie-mac-2014-03-20 | |||||||
| For today’s Market Update Report click to listen-> | |||||||