Morning Market Report 9/17/2014

September 17, 2014
The KUIK Morning Market Report for Wednesday, September 17:
Markets are up.
Index Direction Change Units Time Change
Dow Up                     31 points           17,163 7:06 AM
S&P500 Up 0.2% percent             2,003             4.04
Nasdaq Composite Up 0.2% percent             4,562             9.11
30 Year Treasury Down                      (1) Basis Points               3.35 Annual Yield
The Labor Department reports the consumer price index dropped a seasonally adjusted 0.2% last month. Economists expected it to be flat. That’s the first decline in 16 months, largely because of a drop in the price of gasoline. Energy costs fell by 2.6% for biggest drop in 17 months. Food costs rose 0.2%, however. Beef and veal prices jumped 4.2% for the biggest increase in almost 11 years.
This week’s Federal Reserve meeting will be closely-watched as the central bank prepares the groundwork for an increase in interest rates. The Fed will release its policy statement and economic projections at 11 am Pacific time today. Fed Chairman Janet Yellen will follow up with a press conference at 11:30 am.
Confidence among home builders rose in September to the highest level since November 2005, increasing four points to 59, according to the National Association of Home Builders/Wells Fargo index. Readings above 50 signal that builders are optimistic about sales trends. September marks the third consecutive month above-50. A strengthening jobs market is helping, though there are still headwinds from strict credit standards by lenders.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/consumer-prices-fall-for-first-time-in-16-months-2014-09-17
http://www.marketwatch.com/story/eight-keys-to-feds-september-meeting-2014-09-15
http://www.marketwatch.com/story/home-builder-confidence-highest-in-almost-nine-years-2014-09-17?link=MW_home_latest_news
For today’s Morning Market Report click to listen->