The KUIK Morning Market Report for Tuesday, October 17: | |||||||
Markets are flatly mixed. | |||||||
Index | Direction | Change | Units | Index | Time | Change | |
Dow Jones Industrial Average | Up | 21 | points | 22,978 | 7:19 AM | ||
S&P500 | Down | 0.0% | percent | 2,557 | (0.18) | ||
Nasdaq Composite | Down | 0.0% | percent | 6,621 | (2.60) | ||
30 Year Treasury | Up | 1 | Basis Points | 2.83 | Annual Yield | ||
The National Association of Home Builder’s monthly confidence index for October is up four points to 68, for the highest reading since May. Economists expected it to be unchanged at 64. Readings over 50 signal improvement. Every component increased, with current sales conditions and sales forecast over the coming six months both rising five points. Buyer traffic rose one point to 48. It has rarely topped the neutral 50 line, even at the peak of the housing bubble a decade ago. Later today the government will report September housing starts. The consensus forecast among economists is for a 1.17 million annual pace, down slightly from 1.18 million in August, despite the hurricanes. | |||||||
The Commerce Department reports industrial production in the U.S. rebounded in September after two straight drops, rising 0.3%. That matched expectations. Capacity utilization rose to 76% from 75.8% but remained below summer levels. Production for July was revised to show a small drop instead of a 0.4% gain and August was revised upward to a 0.7% drop from negative 0.9%. | |||||||
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
http://www.marketwatch.com/story/home-builder-sentiment-jumps-to-five-month-high-as-industry-refocuses-on-buyers-2017-10-17 | |||||||
http://www.marketwatch.com/story/industrial-production-climbs-03-in-september-in-face-of-hurricane-headwinds-2017-10-17 | |||||||
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October 17, 2017