The KUIK Market Update for Tuesday, March 1:
Markets are up.
Index Direction Change Units Time
Dow Up 179 points 16,695 6:00 PM
S&P500 Up 1.2% percent 1,955
Nasdaq Composite Up 1.5% percent 4,627
30 Year Treasury Up 6 Basis Points 2.68 Annual Yield
U.S. home prices continued to be strong in January, rsing 1.3% according to Corelogic, and they’re up up 6.9% from a year ago. The company predicts home prices will rise 5.5% in 2016. Denver and San Francisco were up the most, both up more than 11%.
China’s official manufacturing purchasing managers’ index fell to 49.0 in February from 49.4 in January according to the National Bureau of Statistics. It is the seventh straight month of contraction for the world’s second largest economy. Both new orders and production fell.
The Commerce Department reports construction spending rose 1.5% in January to a seasonally adjusted annual rate of $1.14 billion, economists expected only a 0.2% rise. December was revised up slightly and January was 10.4% higher than a year ago.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/home-price-growth-continues-as-oil-patch-remains-resilient-corelogic-says-2016-03-01
http://www.marketwatch.com/story/chinas-manufacturing-pmi-highlights-sluggishness-2016-02-29
http://www.marketwatch.com/story/construction-spending-increases-15-in-january-2016-03-01
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