The KUIK Morning Market Report for Wednesday, November 29:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
107
points
23,943
7:23 AM
S&P500
Up
0.2%
percent
2,633
1.74
Nasdaq Composite
Down
-0.4%
percent
6,885
5.24
30 Year Treasury
Up
6
Basis Points
2.82
Annual Yield
The Wall Street Journal reports the Trump administration will recommend that regulators keep orderly liquidation authority. That’s gives them the power to seize a failing financial firm in a crisis. That’s seen as a win for backers of Dodd-Frank. The Treasury Department, in an upcoming report plans to propose changes without scrapping the policy which would require an act of Congress.
The National Association of Realtors reports the pending-home sales were up 3.5% in October, but are still 0.6% lower than a year ago. The index tracks real estate transactions in which a contract has been signed, but the deal has not yet closed. Economists expected only a 1% gain. But the West fell 0.7%, the Northeast gained 0.5%, the Midwest rose 2.8%, and in the South, pending home sales soared 7.4%. That’s the only region in which pendings are higher than a year ago.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
