The KUIK Market Update for Tuesday, January 5:
Markets are mixed.
Index Direction Change Units Time
Dow Down (7) points 17,141 8:04 AM
S&P500 Up 0.1% percent 2,015
Nasdaq Composite Up 0.2% percent 4,912
30 Year Treasury Up 2 Basis Points 3.01 Annual Yield
In China the Shanghai Composite Index closed down 0.3% at 3287.71, after falling as much as 3.2% and rising as much as 1%. Yesterday it lost 6.9% . One cause for the volatility in China’s markets is investors’ uncertainty about how the financial authority will handle a ban on selling by large shareholder which is set to expire on Friday. Analysts estimate the ban, one of the many bailout measures introduced during the summer stock crash, would release around $153 billion in shares.
U.S. home prices rose 0.5% in November, giving a 6.3% year-over-year gain, according to CoreLogic. Colorado led the states, up 10.4%. Oregon was up 9.0% and Washington was up 10.2%. CoreLogic forecasts a 5.4% from November 2015 to 2016.
February crude is off 1.1%, to $36.31 a barrel on the New York Merc.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/asian-markets-steady-as-china-moves-to-calm-nerves-2016-01-04
http://www.marketwatch.com/story/how-state-by-state-house-prices-grew-in-november-2016-01-05
http://www.marketwatch.com/story/oil-prices-reverse-gains-as-supply-worries-weigh-2016-01-05?link=MW_latest_news
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