| The KUIK Market Update for Monday, September 22: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (60) | points | 17,219 | 8:02 AM | ||
| S&P500 | Down | -0.7% | percent | 1,996 | (14.45) | ||
| Nasdaq Composite | Down | -1.2% | percent | 4,525 | (54.54) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.29 | Annual Yield | ||
| Sales of existing homes fell 1.8% in August to a seasonally adjusted annual rate of 5.05 million, according to the National Association of Realtors. That is the first drop in five months. NAR said the drop is due to to fewer all-cash sales to investors. Economist expected an increase to 5.2 million in August up from an originally reported 5.15 million in July. The median sales price of used homes hit $219,800 in August, up 4.8% from a year ago. August’s inventory was 2.31 million existing homes for sale, a 5.5-month supply at the current sales pace and up 4.5% from a year ago. August’s pace of sales is down 5.3%. | |||||||
| Apple’s record first-weekend sales of the iPhone 6 and iPhone 6 Plus are leading the tech sector this morning. Apple said that it sold more than 10 million of its newest iPhones over the weekend, when they went on sale in retail outlets worldwide. Apple shares are up 72 cents to $101.68. | |||||||
| Companies would have to settle their tax billss before reorganizing and relocating to a foreign country, under anti-corporate inversion legislation written by Democratic Sens. Sherrod Brown of Ohio and Dick Durbin of Illinois. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/existing-home-sales-fall-18-in-august-2014-09-22 | |||||||
| http://www.marketwatch.com/story/apple-gains-stand-out-following-initial-iphone-6-sales-2014-09-22?dist=markets | |||||||
| http://blogs.marketwatch.com/capitolreport/2014/09/19/companies-would-have-to-settle-their-tab-before-leaving-u-s-under-democratic-inversion-bill/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||