Market Update Report 12/23/2014 – Beacon Rock Wealth Advisors

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


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