| The KUIK Market Update for Friday, January 2: | |||||||
| Markets are down from an early rally. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (4) | points | 17,819 | 8:06 AM | ||
| S&P500 | Down | -0.3% | percent | 2,053 | (5.47) | ||
| Nasdaq Composite | Down | -0.5% | percent | 4,711 | (24.82) | ||
| 30 Year Treasury | Down | (6) | Basis Points | 2.69 | Annual Yield | ||
| The National Association of Realtors reports pending home sales rose 0.8% in November signaling that upcoming deals could pick up. The index of pending home sales hit a seasonally adjusted 104.8 in November, up from 104 in October. Pendings rose 1.4% in the Northeast, 1.3% in the South, and 0.4% in the West but fell 0.4% in the Midwest. Pendings usualyly close within two months and a reading of 100 equals 2001’s average contract activity level. | |||||||
| Activity in Europe’s manufacturing sector grew at a slower pace than first estimated in December, maintaining the pressure on the European Central Bank to step up its version of quantitative easing. Markit’s monthly survey of purchasing managers of 3,000 manufacturers rose to 50.6 from 50.1 in November, but down from the preliminary estimate of 50.8. A reading above 50 indicates expansion. Markit said that for the fourth quarter, the indexes were at their lowest level since the third quarter of 2013. Germany rallied slightly, but activity fell again in France and Italy. The Italian PMI was the lowest in 19 months. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/pending-home-sales-rise-08-in-november-2014-12-31-1091035 | |||||||
| http://www.marketwatch.com/story/eurozone-manufacturing-pmi-lower-than-estimated-2015-01-02?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||