The KUIK Morning Market Report for Monday, November 27:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
54
points
23,612
7:20 AM
S&P500
Up
0.1%
percent
2,604
1.74
Nasdaq Composite
Up
0.1%
percent
6,894
5.24
30 Year Treasury
Up
1
Basis Points
2.77
Annual Yield
Real Estate data provider Black Knight reports its Home Price Index rose to $281,845 in September, up 0.16% for the month and 6.36% for the year. Annual price growth was stronger than in August, but monthly increases have decelerated for six straight months. Slower growth should be a relief for home buyers. Prices in the U.S. are up 42% from the 2012 low. and have had 65 straight months of annual price increases. But paychecks aren’t keeping pace with housing costs. Over the past year, wages have risen just 2.5%, according to the Labor Department.
Leandra English, a career staffer appointed last Friday to lead the Consumer Financial Protection Bureau by former director Richard Cordray, sued the Trump administration in federal court last night to block Trump interim appointee budget director Mick Mulvaney from taking control of the agency. President Trump says he has the power to appoint an acting director, while the departing chief believed the law said otherwise. Last-minute maneuvering by Cordray means that this morning, two officials have a claim on the acting top job. Calling herself the “rightful acting director,” English seeks a judgment and a temporary restraining order to prevent Mulvaney from becoming interim chief of the CFPB.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
