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The KUIK Market Update for Friday, February 16: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Up |
80 |
points |
25,280 |
8:09 AM |
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S&P500 |
Up |
0.3% |
percent |
2,738 |
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Nasdaq Composite |
Up |
0.2% |
percent |
7,268 |
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30 Year Treasury |
Down |
(3) |
Basis Points |
3.11 |
Annual Yield |
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Construction on new homes jumped almost 10% in January to an annual rate of 1.33 million. That’s the second highest level since the 2008 recession and exceeded the 1.24 million expected by economists polled. Permits to build new homes also hit a 10 1/2-year high, rising 7.4% to an annual rate of 1.4 million. Housing starts are 7% higher compared to a year ago. The problem is that demand for housing has is greater than the number of properties available, pushing prices higher and frustrating potential buyers. |
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The University of Michigan reports its consumer-sentiment index rose to 99.9 in February, up from 95.7 in January and the second-highest level in 14 years. Economists expected 95.3. There were big gains in both the current economic conditions and the expectations. It appears that the tax cuts signed into law by President Trump are landing in paychecks, because of lower withholding are making a difference. |
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Sign up for a Social Security and Retirement Analysis at brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/consumer-sentiment-climbs-to-second-highest-level-in-14-years-2018-02-16 |
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For today’s Market Update Report click to listen-> |
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