Market Update Report 3/25/2014

March 25, 2014
The KUIK Market Update for Tuesday, March 25:
Markets are up.
Index Direction Change Units Last Time Change
Dow Up                     52 points           13,330 8:14 AM
S&P500 Up 0.21% percent             1,861             3.82
Nasdaq Composite Up 0.03% percent             4,228             1.43
30 Year Treasury Up                       2 Basis Points               3.59 Annual Yield
The Commerce Department reports new homes sold at a seasonally adjusted annual rate of 440,000 in February, down from January’s one-year high of 455,000. That matched economists’ expections. The only region that  increased was the Midwest. Sales are up 37% after dropping in January. Sales fell slightly in the South and sharply in the Northeast. In the West sale fell 16%.  Overall new home sales are 1.1% lower compared to a year ago.
The Conference Board reports consumer confidence rose to 82.3 in March from an upwardly revised 78.3 in February, just slightly below expectations, but the highest in over six years.
May crude  gained 46 cents, or 0.5%, to $100.05, adding to a 14 cents gain from yesterday.  The Houston Ship Channel is closed, two days after a collision caused an oil spill in Galveston Bay. The area is a key waterway linking refineries and petrochemical plants with the Gulf of Mexico.  There is no word from the Port of Houston when the channel will reopen.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/sales-of-new-homes-drop-33-in-february-2014-03-25
http://www.marketwatch.com/story/consumer-confidence-index-rises-in-march-2014-03-25
http://www.marketwatch.com/story/crude-oil-climbs-above-100-ahead-of-inventory-data-2014-03-25?dist=markets
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