Market Update Report 7/22/2014

The KUIK Market Update for Tuesday, July 22:
Markets are up.
Index Direction Change Units Time Change
Dow Up                     69 points           17,121 7:53 AM
S&P500 Up 0.5% percent             1,984            10.70
Nasdaq Composite Up 0.8% percent             4,460            35.33
30 Year Treasury Up                       2 Basis Points               3.28 Annual Yield
The Labor Department reports the consumer price index increased 0.3% in June after a 0.4% gain in May. The gasoline index rose 3.3% in June, and accounted for two-thirds of the increase in overall June prices. Food prices rose 0.1% in June, the smallest monthly increase since January, after a steep 0.5% gain in May. Excluding volatile food and energy prices, core prices ticked up 0.1% after three straight gains of 0.2% or more. Economists expected a 0.3% gain in the overall CPI and a 0.2% rise in the core rate.
Rising for a third month, sales of existing homes grew 2.6% in June to a seasonally adjusted annual rate of 5.04 million, reaching the highest level since October, according to the National Association of Realtors. Economists expected 5 million in June, driven by a strengthening labor market, more homes on the market, and cooling price growth. The median sales price of used homes hit $223,300 in June, up 4.3% from a year ago.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/consumer-prices-rise-in-june-as-gasoline-prices-jump-2014-07-22
http://www.marketwatch.com/story/existing-home-sales-rise-26-in-june-2014-07-22-1091013
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