| The KUIK Market Update for Wednesday, September 24: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 22 | points | 17,078 | 8:02 AM | ||
| S&P500 | Up | 0.1% | percent | 1,985 | 2.06 | ||
| Nasdaq Composite | Up | 0.2% | percent | 4,518 | 9.67 | ||
| 30 Year Treasury | Down | (0) | Basis Points | 3.25 | Annual Yield | ||
| German business confidence fell further in September, evidence that Europe’s largest economy is under pressure. The Ifo business-climate index for September dropped to 104.7, missing forecasts for a 105.8 reading, according to Dow Jones. Germany’s DAX 30 fell 0.2% to 9,579. The report comes a day after manufacturing data for the country showed growth in factory activity fell to a 15-month low in September. | |||||||
| Federal Reserve Chairman Janet Yellen says she wants investors to be prepared for the possibility that the Fed will raise interest rates sooner than they currently project. Volatility across stocks, bonds and currencies worldwide is close to record or multi-year lows, even after Yellen cautioned last week that the Fed’s commitment to keep interest rates near zero for a “considerable time” could change if U.S. economic performance continues to exceed expectations. | |||||||
| New-home sales rose 18% in August to a seasonally adjusted annual rate of 504,000, the fastest pace since May 2008, accordind to the Commerce Department. Economists expected only 426,000. The 18% gain was the largest one-month percentage rise since January 1992. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/ifo-shows-german-business-confidence-continues-to-slide-2014-09-24 | |||||||
| http://www.bloomberg.com/news/2014-09-24/yellen-warns-on-market-calm-before-considerable-time-up.html | |||||||
| http://www.marketwatch.com/story/new-home-sales-in-august-surge-to-six-year-high-2014-09-24 | |||||||
| For today’s Market Update Report click to listen-> | |||||||