The KUIK Morning Market Report for Wednesday, July 19:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
14
points
21,588
7:16 AM
S&P500
Up
0.2%
percent
2,467
5.98
Nasdaq Composite
Up
0.4%
percent
6,367
23.09
30 Year Treasury
Unchanged
–
Basis Points
2.85
Annual Yield
The Commerce Department reports housing starts for June ran at a 1.22 million seasonally adjusted annual rate, 8.3% higher than in May and 2.1% higher for the year. Economists expected a 1.16 million annual rate. Permits, a sign of future demand were 1.25 million annually, up 7.4% for the month and 5.1% for the year. Single-family starts were 6.3% higher than in May, a sign builders are concentrating on homes to be purchased, instead of rented.
Investors are looking at a double-header of central bank meetings. The Bank of Japan will announce the outcome of its policy meeting early Thursday morning. The European Central Bank will meet on Friday. Economists expect ECB President Mario Draghi to stick to the status quo and reiterate his view that monetary easing should stay accommodative meaning low rates and easy access to capital.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
