The KUIK Morning Market Report for Tuesday, August 25: |
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Markets are rebounding. |
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Index |
Direction |
Change |
S |
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Time |
Change |
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Dow |
Up |
301 |
points |
16,168 |
7:03 AM |
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S&P500 |
Up |
2.2% |
percent |
1,935 |
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41.72 |
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Nasdaq Composite |
Up |
2.7% |
percent |
4,650 |
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123.41 |
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30 Year Treasury |
Up |
10 |
Basis Points |
2.82 |
Annual Yield |
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U.S. house prices rose 1% in June, reflecting sales are up and the supply of properties for sale is down, according to the S&P Case-Shiller 20-city composite index. But prices are off 0.1% on a seasonally adjusted basis. Prices in June were up 5% from a year earlier. “Nationally, home prices continue to rise at a 4% to 5% annual rate, two to three times the rate of inflation,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. Yet he also noted that builders have begun work on more homes, a trend that could help stabilize prices. |
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Chinese stocks tumbled Tuesday, bringing two-day losses to more than 15%. The Shanghai Composite finished down 7.6% at 2964.97 and fell as much as 8.2% in the afternoon. China’s main index fell below 3,000 for the first time since December 2014. That follows a drop of 8.5% drop on Monday, the worst single-day loss in more than eight years. |
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Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. |
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http://www.marketwatch.com/story/home-prices-rise-1-in-june-sp-case-shiller-shows-2015-08-25 |
http://www.marketwatch.com/story/more-volatility-for-asian-markets-as-shares-in-china-japan-slide-2015-08-25 |
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For today’s Morning Market Report click to listen-> |
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