| The KUIK Market Update for Friday, May 22: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (21) | points | 18,265 | 8:00 AM | ||
| S&P500 | Down | 0.0% | percent | 2,131 | (0.02) | ||
| Nasdaq Composite | Up | 0.2% | percent | 5,102 | 10.85 | ||
| 30 Year Treasury | Up | 1 | Basis Points | 2.99 | Annual Yield | ||
| The Labor Department reports consumer prices rose a seasonally adjusted 0.1% in April. Energy prices fell 1.3% while food prices were unchanged. Core CPI, which excludes volatile food and energy costs, rose 0.3%, driven by increases in housing and medical care costs. This is the fastest increase in core prices since January 2013. | |||||||
| Zillow reports rents in April rose at their fastest pace since 2013, outpacing home values. The Zillow Rent Index climbed 4% year-over-year to $1,364 per month in April while home values rose only 3% to a median price of $178,400. Rents are now at their highest since the Zillow Rent Index began tracking national rental values in 2010. Zillow says that when rent accounts for more than 25% of a monthly income, it qualifies as a crisis. American renters have been forking over more than a quarter of their monthly income since June 2001. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-stocks-set-to-sideline-ahead-of-yellen-long-weekend-2015-05-22 | |||||||
| http://www.marketwatch.com/story/americas-rent-crisis-shows-no-sign-of-letting-up-2015-05-21 | |||||||
| For today’s Market Update Report click to listen-> | |||||||