| The KUIK Market Update for Tuesday, October 21: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 97 | points | 16,496 | 7:53 AM | ||
| S&P500 | Up | 1.2% | percent | 1,927 | 23.10 | ||
| Nasdaq Composite | Up | 1.6% | percent | 4,384 | 67.95 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 2.98 | Annual Yield | ||
| European stock markets rallied and the euro dropped today after reports said the European Central Bank may start buying corporate bonds on the open market in a European version of quantitative easing. Reuters said the ECB could decide on the purchases as soon as in December, with the bond buying beginning as early as next year. | |||||||
| Sales of existing homes rose 2.4% in September to a seasonally adjusted annual rate of 5.17 million, hitting the fastest pace in one year and rebounding from an unexpected drop in August, according to the National Association of Realtors. Economists expected an increase to 5.1 million in September. September’s rate of sales was down 1.7% from September 2013, indicating some shakiness in the market. The median sales price of used homes hit $209,700 in September, up 5.6% from a year ago, and inventory was 2.3 million existing homes for sale, a 5.3-month supply at the current sales pace and up 6% from ta year ago. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/euro-slides-after-report-the-ecb-mulls-corporate-bond-buys-2014-10-21 | |||||||
| http://www.marketwatch.com/story/existing-home-sales-rise-24-in-september-2014-10-21 | |||||||
| For today’s Market Update Report click to listen-> | |||||||