| The KUIK Market Update for Wednesday, April 23: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (11) | points | 16,503 | 8:05 AM | ||
| S&P500 | Down | -0.1% | percent | 1,878 | (1.57) | ||
| Nasdaq Composite | Down | -0.5% | percent | 4,143 | (18.58) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.48 | Annual Yield | ||
| The Commerce Department reports sales of new single-family homes fell 14.5% to a seasonally adjusted annual rate of 384,000 last month, hitting the lowest level since July, with drops in three of four U.S. regions. Economists polled by MarketWatch expected 450,000 annually. New-home sales in March were down 13.3% from a year earlier, the first annual contraction since September 2011. | |||||||
| The initial Markit Purchasing Managers Index for the US fell slightly to 55.4 in April from 55.5 in March. Readings over 50 indicate growth. Readings for new orders and exports improved. Production in April rose to its fastest pace since March 2011. Employment was slightly weaker but still positive. The main negative was longer supplier delivery times. | |||||||
| The Mortage Bankers Association reports the average number of mortgage applications last week slid 3.3% from the week before, as interest rates increased. Mortgage applicationshave now slid in five of the past six weeks, and volume has generally declined in 2014. The MBA has reported higher mortgage applications for only three weeks since early February. | |||||||
| 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-plunge-145-in-march-2014-04-23?dist=lcountdown | |||||||
| http://www.marketwatch.com/story/us-flash-markit-pmi-slips-to-554-in-april-2014-04-23 | |||||||
| http://www.marketwatch.com/story/us-mortgage-application-volume-falls-33-mba-2014-04-23?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||