Morning Market Report 1/22/2015

January 22, 2015
The KUIK Morning Market Report for Thursday, January 22:
Markets are down.
Index Direction Change Units Time Change
Dow Down                    (24) points           17,530 6:59 AM
S&P500 Down 0.0% percent            2,032            (0.19)
Nasdaq Composite Down -0.2% percent            4,659            (8.77)
30 Year Treasury Down                      (2) Basis Points              2.42 Annual Yield
U.S. home prices rose a seasonally adjusted 0.8% in November, according to the Federal Housing Finance Agency house price index  based on mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. October’s gain was revised to 0.4% down from 0.6%. Compared to November 2013, prices are up 5.3%, and  4.5% below their peak hit in April 2007.
The Labor Department reports initial claims for unemployment benefits fell to 307,000 in the week ended January 10 down from a revised 317,000 the week before. Two weeks ago, claims hit their highest level since June. Continuing claims increased by 15,000 to a seasonally adjusted 2.44 million.
The European Central Bank announced that it will purchase 60 billions euros a month in government debt in its version of Quantitative Easing.  Those purchases will consist of both investment grade government debt and the debt of “agencies and European institutions”. Most of the government debt purchases will not be subject to “loss-sharing” with the national central banks. The euro at last check was down 1% versus the dollar, trading under the $1.15.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/us-home-prices-grew-08-in-november-fhfa-says-2015-01-22
http://www.marketwatch.com/story/jobless-claims-above-300000-for-third-straight-week-for-first-time-since-july-2015-01-22
http://blogs.marketwatch.com/thetell/2015/01/22/european-central-bank-live-blog-will-draghi-deliver-on-qe-expectations/
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