The KUIK Morning Market Report for Friday, December 23:
Markets are flat.
Index
Direction
Change
Units
Time
Dow
Down
(8)
points
19,911
7:30 AM
S&P500
Unchanged
0.0%
percent
2,261
Nasdaq Composite
Up
0.0%
percent
5,450
30 Year Treasury
Down
(2)
Basis Points
3.11
Annual Yield
The Commerce Department reports new home sales for November ran at a 592,000 seasonally adjusted annual rate, up 5.2% from October and 16.5% compared to a year ago. Economists expected a 585,000 annual pace for November. The median sales price was $305,400, up slightly from October but lower than $317,000 a year ago. There were 5.1 monthsā worth of new homes available for sale.
Consumer confidence has jumped to its highest level since 2004, extending a surge in Americansā optimism about the economy after the election of Donald Trump. The University of Michigan reports that its final index of sentiment rose to 98.2 from November’s 93.8 in November. Economists expected 98. Inflation expectations for the next five to 10 years fell to a record low. A record share of respondents āspontaneously mentionedā the expected impact of Trumpās policies, more than double the number when Ronald Reagan took office in 1981.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
