| The KUIK Market Update for Tuesday, April 22: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 72 | points | 16,521 | 8:07 AM | ||
| S&P500 | Up | 0.5% | percent | 1,881 | 9.11 | ||
| Nasdaq Composite | Up | 0.9% | percent | 4,158 | 36.42 | ||
| 30 Year Treasury | Up | 0 | Basis Points | 3.53 | Annual Yield | ||
| The Supreme Court announced its decision today in a racial preferences case. It voted 6-2 that states may end racial preferences without violating the U.S. Constitution. The case came from Michigan, which in 2006 passed a voter initiative ending racial preferences. A federal appeals court had struck down the measure, finding that it served to disadvantage minorities in the political process. Justice Anthony Kennedy wrote that the case wasn’t about resolving the debate over affirmative actio but who may resolve it. He wrote the Constitution doesn’t forbid voters from ending the practice | |||||||
| Sales of existing homes ticked down 0.2% in March to a seasonally adjusted annual rate of 4.59 million, the slowest pace since July 2012, according to the National Association of Realtors. Sales have trended down since the summer on falling affordability as inventory remained low. Unusually rough weather in recent months has also curbed demand. Economists expected a March sales rate of 4.55 million, compared with a February’s rate of 4.6 million. Recent drops in the sales pace of existing homes have been relatively small, signaling that the market may be stabilizing and sales could bounce higher in coming months. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/supreme-court-says-states-may-end-affirmative-action-2014-04-22-101034143 | |||||||
| http://www.marketwatch.com/story/existing-home-sales-decline-02-in-march-2014-04-22-109105?link=MW_Nav_EP | |||||||
| For today’s Market Update Report click to listen-> | |||||||