| The KUIK Market Update for Friday, July 11: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (30) | points | 16,885 | 8:03 AM | ||
| S&P500 | Down | -0.1% | percent | 1,963 | (1.90) | ||
| Nasdaq Composite | Up | 0.2% | percent | 4,404 | 8.10 | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.34 | Annual Yield | ||
| The average rate for a 30-year fixed-rate mortgage rose to 4.15% in the week ended July 10 up from 4.12% last week, according to Freddie Mac. A year ago, the 30-year rate was at 4.51%. The average rate for the 15-year fixed-rate mortgage rose to 3.24% up from 3.22% last week. | |||||||
| The Securities and Exchange Commission today suspended trading in shares of social network operator Cynk Technology, citing concerns about the accuracy of stock quotes and possible manipulation. Shares of the company closed yesterday $13.90, or up about 23,000% since June 16, when it closed at 6 cents. Despite the gains, the Belize-based company had reported no revenue or assets, and just one employee. The SEC said the trading suspension will be lifted on July 24 at midnight Eastern time. | |||||||
| August crude oil is down 1.1% to $101.83 on the New York Merc and are on track for a 2.1% drop for the week and their lowest close in nearly two months as worries fade over near-term threats to Iraqi oil production and Libyan production is coming back online. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-415-2014-07-10-9915959 | |||||||
| http://www.marketwatch.com/story/mgic-radian-shares-drop-in-premarket-following-fhfa-proposal-2014-07-11 | |||||||
| http://www.marketwatch.com/story/oil-on-track-for-weekly-drop-as-supplies-mount-2014-07-11?link=MW_story_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||