| The KUIK Morning Market Report for Wednesday, November 18: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 107 | points | 17,598 | 7:06 AM | ||
| S&P500 | Up | 0.6% | percent | 2,063 | 12.69 | ||
| Nasdaq Composite | Up | 0.6% | percent | 5,018 | 31.74 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.07 | Annual Yield | ||
| The Commerce Department reports construction on new U.S. homes fell by 11% in October to an annual rate of 1.06 million, hitting the lowest level since spring. Economists expecteda seasonally adjusted 1.15 million. Permits for new construction, a sign of future demand, rose 4.1% to an annual rate of 1.15 million. Permits for single-family homes, which account for about three-quarters of the housing market, rose 2.4% in October to an annual rate of 711,000, highest level since the end of 2007. | |||||||
| Three Federal Reserve officials said that they support a rate hike. In a speech today, Atlanta Fed President Dennis Lockhart said Wednesday he is comfortable moving rates higher “soon,” according to the Wall Street Journal. He is a voting member on the Fed policy committee this year. He said the economy was on a reasonably solid trajectory. Speaking on the same panel, Cleveland Fed President Loretta Mester repeated that she thinks the economy can handle a small rate hike in December. Richmond Fed President Jeffrey Lacker said in a CNBC interview that he also supports a rate increase. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/housing-starts-fall-11-in-october-but-permits-rebound-2015-11-18 | |||||||
| http://www.marketwatch.com/story/three-fed-officials-back-an-interest-rate-hike-soon-2015-11-18 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||