| The KUIK Morning Market Report for Wednesday, July 5: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Index | Time | Change | |
| Dow Jones Industrial Average | Down | (65) | points | 21,413 | 7:20 AM | ||
| S&P500 | Down | -0.3% | percent | 2,423 | (6.26) | ||
| Nasdaq Composite | Down | -0.1% | percent | 6,103 | (6.93) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 2.85 | Annual Yield | ||
| Corelogic reports home prices are 6.6% higher compared to a year ago, and they were up 1.2% from April to May. Renting is not getting cheaper. The cost of rent is growing faster than inflation and wages. Overall single-family rents rose 3.1% for the year in May, while rental costs in the affordable single-family rental segment , which includes properties with rents less than 75% of the regional median, grew 4.7%. and wages rose 2.5% in May compared to a year ago, according to the Labor Department. CoreLogic forecasts home price appreciation of 5.3% over the next 12 months. Oregon was up 9.0% over the last year, behind Colorado at 9.7%, Utah at 10.4%, and Washington at 12.6%. |
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| On Saturday, Illinois started its third straight fiscal year without a budget. The Illinois Senate worked over Independence Day and passed a major income-tax increase as part of a $36 billion budget plan, following the House which had approved itsr version over the weekend. Several Republicans broke ranks with Gov. Bruce Rauner who vetoed the measure. The Illinois Senate already voted to override the veto and the House is expected to follow this week | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/home-price-growth-sizzles-in-may-driving-a-wedge-in-the-market-2017-07-05 | |||||||
| http://www.marketwatch.com/story/illinois-on-brink-of-becoming-first-state-rated-junk-if-budget-crisis-not-averted-2017-06-30 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||