The KUIK Morning Market Report for Wednesday, October 26:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(78)
points
18,091
7:07 AM
S&P500
Down
-0.4%
percent
2,135
Nasdaq Composite
Down
-0.5%
percent
5,255
30 Year Treasury
Up
2
Basis Points
2.52
Annual Yield
The Commerce Department reports September’s advanced trade report for goods which excludes services showed a 5.2% drop in the deficit to $56.1 billion from $59.1 billion in August. Exports rose 0.9% while imports fell 1.1%. On Friday, the government will report third-quarter GDP and economists expect a 2.5% increase. The U.S. expanded at a 1.4% annual pace in the spring.
The Commerce Department also reports new home sales in September ran at a seasonally adjusted annual rate of 593,000. That was 3.1% higher than August’s final figure and 29.8% higher compared to a year ago. The median price was $313,500, 6.7% higher than in August, and 1.9% higher than a year ago. There were 4.8 months’ worth of homes available for sale at the current pace in September, fewer than in August. Many builders report problems finding affordable labor and lots.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
