| The KUIK Morning Market Report for Friday, May 23: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 37 | points | 16,580 | 7:06 AM | ||
| S&P500 | Up | 0.2% | percent | 1,896 | 3.71 | ||
| Nasdaq Composite | Up | 0.2% | percent | 4,163 | 8.25 | ||
| 30 Year Treasury | Down | (3) | Basis Points | 3.40 | Annual Yield | ||
| German business confidence declined more than expected in May, showing that Europe’s largest economy is slowing down after a strong start to the year. The Ifo index fell to 110.4 from April’s 111.2, below the 111.0 forecast by a Wall Street Journal survey of analysts. Current conditions and expectations both fell. The euro fell against the U.S. dollar following the release. | |||||||
| Sales of new single-family homes rose 6.4% to a seasonally adjusted annual rate of 433,000 last month, led by the South and Midwest, according to the Commerce Department. Economists expected an April sales rate of 429,000, compared with an originally estimated rate of 384,000 in March. Home sales have been held down over the past year by rising prices and low inventory, economists. April’s sales pace rose about 47% in the Midwest and 3% in the South, unchanged in the West and dropped 27% in the Northeast. The median sales price hit $275,800 in April, down 1.3% from a year earlier. The supply of new homes on the U.S. market fell to 5.3 months at the April sales pace from 5.6 months in March. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/german-ifo-index-disappoints-with-fall-in-may-2014-05-23 | |||||||
| http://www.marketwatch.com/story/sales-of-new-single-family-homes-rise-64-in-april-2014-05-23 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||