The KUIK Morning Market Report for Tuesday, October 31:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(9)
points
23,339
7:00 AM
S&P500
Up
0.0%
percent
2,573
0.54
Nasdaq Composite
Up
0.2%
percent
6,709
10.46
30 Year Treasury
Unchanged
–
Basis Points
2.88
Annual Yield
National home prices accelerated in August. The S&P/Case-Shiller 20-city home price index rose a seasonally adjusted 0.5% during the three-months ending in August. It’s up 5.9% compared to the same period a year ago. Case-Shiller’s broader national index rose 6.1% for the year in August, up from 5.9%. The national index surpassed the high it previously set at the peak of the housing bubble last year, and is now 5.6% higher. The 20-city index is 1.8% shy of its 2006 peak. Annual price gains in August ranged from 3.4% growth in Washington DC to 13.2% in Seattle. Las Vegas was second, at 8.6%. Portland was up only 0.1% for the month but tied for fourth at 7.2% for the year.
The Department of Labor’s employment cost index rose 0.7% in the third quarter, pushing the gain over the past 12 months close to a nine-year high. That matched expectations. Wages, which are 70% of employment costs were up 0.7% in the third quarter. Benefits were up 0.8%. Over the past year labor costs have risen 2.5%, the second highest level since 2008.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
