The KUIK Morning Market Report for Friday, April 21:
Markets are flat.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(3)
points
20,577
7:27 AM
S&P500
Down
-0.1%
percent
2,354
(1.60)
Nasdaq Composite
Down
0.0%
percent
5,917
(0.19)
30 Year Treasury
Down
(2)
Basis Points
2.87
Annual Yield
Budget director Mick Mulvaney said yesterday the administration plans to include $200 billion for new infrastructure spending in its full fiscal year 2018 budget. In a discussion at the Institute of International Finance, he said it will fund $1 trillion in projects if leveraged properly. He said there will not be any specific votes on spending until the fall.
Existing-home sales ran at a seasonally adjusted annual rate of 5.71 million, a 4.4% monthly increase, according to the National Association of Realtors. That was the strongest selling pace since February 2007 and 5.9% higher than a year ago. That was better than the 5.63 million annual rate forcast by economists. Tight inventory is still the biggest factor. Supply is 6.6% lower compared to a year ago. There were 1.83 million homes for sale on the last day of the month, which represented 3.8 months of supply at March’s sales pace. Properties stayed on the market for only 34 days. The median sales price is $236,400. 6.8% higher than a year ago.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
