October 28, 2014

Morning Market Report 10/28/2014

The KUIK Morning Market Report for Tuesday, October 28:
Markets are up.
Index	Direction	Change	Units	Last	Time	Change
Dow	Up	57	points	16,875	6:59 AM
S&P500	Up	0.5%	percent	1,971	9.12
Nasdaq Composite	Up	0.8%	percent	4,521	35.19
30 Year Treasury	Up	3	Basis Points	3.06	Annual Yield
The Commerce Department reports orders for durable goods fell 1.3% in September for the second straight drop, as demand fell products including autos, aircraft, computers, and heavy machinery. Economists expected a 0.2% increase. Leaving out the volatile transportation sector, orders fell by a smaller 0.2%. Orders for core capital goods whcich is a measure of business investment fell 1.7% for the biggest drop since January. Durable-goods orders for August were not revised at an 18.4% drop mainly due to fewer aircraft orders after a large July.
Home prices rose 0.2% in August, slower than the 0.6% rise in July, according to S&P/Case-Shiller’s 20-city composite index. Prices in Charlotte, San Diego, and San Francisco fell, while Detroit posted the fastest growth. After seasonal adjustments, home prices fell 0.1% in August — the strongest result in fourth months — compared with a 0.5% decline July. Annual growth is slowing down, with year-over-year home prices rising just 5.6% in August — the slowest pace since November 2012 — compared with 6.7% in July. Through August home prices are about 16% below the 2006 peak.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/us-durable-goods-orders-drop-13-in-september-below-forecast-2014-10-28
http://www.marketwatch.com/story/us-home-prices-rise-02-in-august-2014-10-28
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