| The KUIK Morning Market Report for Tuesday, June 24: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 26 | points | 16,964 | 7:37 AM | ||
| S&P500 | Up | 0.2% | percent | 1,967 | 4.67 | ||
| Nasdaq Composite | Up | 0.7% | percent | 4,397 | 28.58 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.43 | Annual Yield | ||
| The S&P/Case-Shiller’s index tracking 20 cities shows home prices rose 1.1% in April, for a second consecutive gain as the spring selling season got underway, with all 20 tracked cities posting higher prices. After seasonal adjustments, home prices rose 0.2% in April, compared with 1.2% in March. Year-over-year price growth hit 10.8% in April down from 12.4% in March and a recent peak of 13.7% in November. | |||||||
| In a speech to the Economic Club of New York, Charles Plosser, President of the Federal Reserve Bank of Philadelphia suggests the Fed should hike interest rates next quarter. Most Fed officials see the first rate hike coming in the summer of 2015. Plosser said rates should be higher because the central bank is closing in on its goals faster than economists expect. The unemployment rate could drop to 5.8% this year and inflation should move back to the central bank’s 2% target.
Plosser said he expects growth above a 2.4% rate for the 18 months. |
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| Crude oil futures extended losses in Asian trading today as the Iraq crisis continues to be a source of volatility. August crude is at $105.84 a barrel on the New York Merc. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-home-prices-rise-11-in-april-2014-06-24 | |||||||
| http://blogs.marketwatch.com/capitolreport/2014/06/24/charles-plosser-says-fed-should-hike-interest-rates-next-quarter/ | |||||||
| http://www.marketwatch.com/story/oil-futures-slide-as-iraqi-crisis-continues-2014-06-24 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||