Morning Market Report 2/18/2015 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Wednesday, February 18:

Markets are down.

Index	Direction	Change	Units		Time	Change
Dow	Down	(42)	points	18,006	7:03 AM
S&P500	Down	-0.3%	percent	2,095		(5.31)
Nasdaq Composite	Down	-0.1%	percent	4,895		(4.21)
30 Year Treasury	Down	(2)	Basis Points	2.72	Annual Yield

The Commerce Department reports construction on new homes fell by 2% in January to 1.07 million annually and that matched expectations. Heavy snowfall hindered builders in the Midwest and Northeast. Permits also fell slightly but indicate that the pace of construction is likely to remain at or near current levels heading into the spring.

U.S. wholesale prices posted a record 0.8% drop in January on an unprecedented 10.3% drop in energy costs, according to the Labor Department. Economists expectede only d a seasonally adjusted 0.5% decline. Core prices that exclude the volatile categories of food, energy, and trade fell a smaller 0.3%. Gasoline prices fell 24%, for the biggest drop since 2008 and services fell 0.2%. Producer prices have had zero change in the past year because of lower energy costs but core PPI is up 0.9%.

European finance ministers have tentatively scheduled a meeting on Friday to discuss extending Greece’s bailout, but they will only meet if Greece has submitted a “credibly worded request” for an extension. Greece will submit its request for an extension of its rescue deal tomorrow, one day later than previously expected.



Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.

http://www.marketwatch.com/story/us-housing-starts-dip-in-january-to-107-million-annual-rate-2015-02-18
http://www.marketwatch.com/story/us-producer-prices-tumble-08-in-january-on-lower-energy-costs-2015-02-18
http://www.marketwatch.com/story/greece-to-submit-request-for-loan-extension-on-thursday-2015-02-18


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