| The KUIK Morning Market Report for Tuesday, September 23: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (15) | points | 17,158 | 7:08 AM | ||
| S&P500 | Down | 0.0% | percent | 1,994 | (0.22) | ||
| Nasdaq Composite | Up | 0.2% | percent | 4,535 | 7.02 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.28 | Annual Yield | ||
| Home prices rose a seasonally adjusted 0.1% in July, slower than a 0.3% gain in June, according to the Federal Housing Finance Agency, which tracks deals with mortgages backed by Fannie Mae and Freddie Mac. It said home prices in July were up 4.4% from July 2013. | |||||||
| The Obama administration is on a regulatory offensive against U.S. companies that move to lower-tax countries, taking action under five separate sections of the tax code to make inversions harder to accomplish and less profitable. Three of the moves are aimed at blocking inverted companies from getting access to their offshore cash without paying U.S. tax on it. Those would apply to deals closed on or after Sept. 22. Other moves make it more difficult for U.S. firms to skirt current ownership standards and make it harder for U.S. firms to spin off overseas subsidiaries. | |||||||
| The preliminary version of HSBC’s China manufacturing Purchasing Managers’ Index rose to 50.5, up from August’s final 50.2, and beating expectations for a drop to 50.0, according to a Bloomberg News survey of economists. The 50 mark divides growth from contraction. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/home-prices-rise-01-in-july-fhfa-2014-09-23-991414 | |||||||
| http://www.marketwatch.com/story/treasury-unveils-measures-to-combat-tax-inversions-2014-09-22 | |||||||
| http://www.marketwatch.com/story/china-factory-data-surprises-to-upside-cheering-markets-a-bit-2014-09-23 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||