| The KUIK Market Update for Friday, October 24: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 54 | points | 16,732 | 8:01 AM | ||
| S&P500 | Up | 0.3% | percent | 1,957 | 5.95 | ||
| Nasdaq Composite | Up | 0.4% | percent | 4,469 | 15.71 | ||
| 30 Year Treasury | Down | (3) | Basis Points | 3.02 | Annual Yield | ||
| Bloomberg reports Amazon reported earnings yesterday and posted its biggest quarterly net loss since at least 2003. It also forecast sales and profit for the fourth quarter that missed analysts’ projections. Amazon is on track to lose an estimated $40.5 million for the year, which would be the company’s largest annual loss in 12 years. Amazon shares are down 7.25% to $290.27. | |||||||
| Foreclosures have fallen to their lowest rate since February 2008, as states clear the backlog of foreclosures from the crisis years and the market returns to normal. At 1.76% of active mortgages, the inventory of loans in foreclosure is at its lowest point since February 2008, according to Black Knight Financial Services. That equates to 893,000 loans in foreclosure, a 33% drop 435,000 from 1.3 million last year. That’s good for the housing marke. The delinquency and foreclosure rate is 74% back to normal in the fourth quarter versus 56% a year ago, while home prices and sales are 75% and 80% back to normal. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2014-10-24/amazon-ceo-bezos-faces-season-of-worsts-as-losses-mount.html | |||||||
| http://www.marketwatch.com/story/foreclosures-at-lowest-rate-since-february-2008-2014-10-24?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||