| The KUIK Market Update for Tuesday, December 23: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 79 | points | 18,039 | 8:02 AM | ||
| S&P500 | Up | 0.2% | percent | 2,083 | 4.06 | ||
| Nasdaq Composite | Down | -0.3% | percent | 4,769 | (12.58) | ||
| 30 Year Treasury | Up | 3 | Basis Points | 2.78 | Annual Yield | ||
| The Commerce Department reports gross domestic product — the value of all goods and services produced by the U.S. — grew at a real rate of 5.0% annually in the third quarter. That’s up from a prior read of 3.9% and the fastest pace of growth since the third quarter of 2003. Economists expected a revised rate of 4.4%. Consumer spending was revised up to 3.2% from 2.2%. | |||||||
| Sales of new single-family homes fell 1.6% in November to a seasonally adjusted annual rate of 438,000, the slowest pace in four months, with drops in three of four U.S. regions. Economists expected 450,000. The sales pace fell 12% in the Northeast, 6.4% in the South, and 6.3% in the Midwest, but rose 14.8% here in the West. The median price of new homes hit $280,900 in November, up 1.4% from November 2013. The supply of new homes on the market rose to 5.8 months up from 5.7 months in October. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/consumer-spending-powers-q3-gdp-to-50-rate-2014-12-23 | |||||||
| http://www.marketwatch.com/story/new-home-sales-fall-16-to-438000-annual-rate-in-november-2014-12-23-1091013 | |||||||
| For today’s Market Update Report click to listen-> | |||||||