| The KUIK Market Update for Wednesday, April 16: | |||||||
| Markets are up but off their highs. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 68 | points | 16,331 | 8:07 AM | ||
| S&P500 | Up | 0.31% | percent | 1,849 | 5.76 | ||
| Nasdaq Composite | Up | 0.21% | percent | 4,043 | 8.57 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.48 | Annual Yield | ||
| The Commerce Department reports construction on new homes in March hit the fastest pace in three months, rising 2.8% to a seasonally adjusted annual rate of 946,000, led by single-family homes. But that missed expectations. Economists expected 990,000 starts. Despite March’s gain, starts are down 5.9% from a year ago, for the widest annual contraction since April 2011. Permits, a sign of future demand, fell 2.4% to an annual rate of 990,000, led by a drop for apartments. | |||||||
| The Federal Reserve will likely hold short-term interest rates at zero until “the latter half of 2015,” based on current forecasts for growth and inflation, said Dennis Lockhart, president of the Atlanta Fed Bank, on Wednesday, according to a report on Dow Jones Newswires. In an interview at the Atlanta Fed’s banking conference, Lockhart said he expects growth to accelerate to 3% this year, and that was encouraged by the upward inflation pressure seen in the latest data, but said the outlook for prices was static. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/housing-starts-rise-in-march-to-946000-annual-rate-2014-04-16 | |||||||
| http://www.marketwatch.com/story/feds-lockhart-sees-first-rate-hike-after-mid-2015-2014-04-16 | |||||||
| For today’s Market Update Report click to listen-> | |||||||