| The KUIK Market Update for Monday, June 30: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (24) | points | 16,828 | 8:05 AM | ||
| S&P500 | Down | 0.0% | percent | 1,960 | (0.65) | ||
| Nasdaq Composite | Up | 0.1% | percent | 4,401 | 2.80 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.35 | Annual Yield | ||
| The index of pending home sales rose 6.1% in May to reach the highest level in eight months, signaling that upcoming closings of existing homes are likely to speed up, according to the National Association of Realtors. The index hit 103.9 in May, compared with 97.9 in April. NAR says low mortgage rates, more homes on the market, and stronger job growth will fuel more deals. Although pending sales have risen three months in row, first-quarter closings were weak enough that NAR expects them to drag down 2014’s total sales tally below last year’s result. In May the pending-sales gauge was down 5.2% from a year earlier. 100 on the index equals 2001’s average contract activity level. | |||||||
| The Supreme Court ruled today that closely held corporations may be exempt from providing contraception coverage under Obamacare on religious grounds. The justices voted 5-4 in favor of Hobby Lobby arts and crafts stores in a decision that says religious freedom rules allow closely held corporations to be exempt from the mandate but do not apply to other insurance requirements under Obamacare. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/pending-home-sales-highest-in-eight-months-2014-06-30?dist=lcountdown | |||||||
| http://www.marketwatch.com/story/supreme-court-says-some-firms-dont-need-to-cover-contraception-2014-06-30?link=MW_home_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||