The KUIK Morning Market Report for Monday, January 30:
Market are down.
Index
Direction
Change
Units
Time
Dow
Down
(155)
points
19,939
7:20 AM
S&P500
Down
-1.0%
percent
2,272
Nasdaq Composite
Down
-1.4%
percent
5,584
30 Year Treasury
Up
2
Basis Points
3.08
Annual Yield
President Trump signed an executive order Friday night to keep refugees from entering the country for 120 days and immigrants from seven predominantly Muslim nations out for three months. They are Iran, Iraq, Syria, Sudan, Libya, Yemen and Somalia. Despite the outcry and protests, the administration is continuing with the order. He defended the order over the weekend, saying it was not a Muslim ban but a move that would keep the United States safe from terrorists. The President said while there’s “compassion to those fleeing oppression,” his first priority was to keep the nation safe.
The National Association of Realtors reports its index of pending home sales rose 1.6% to 109.0. That’s 0.3% higher than a year ago. December’s gain was larger than the 0.6% rise forecast by economists. The index tracks real estate transactions in which a contract has been signed, but the deal has not yet closed. December was mixed regionally. With the Northeast down 1.6%, the Midwest down 0.8%, but the South was up 2.4%, and here in the West up 5.0%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
