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The KUIK Morning Market Report for Friday, February 16: |
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Markets are down. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Down |
(40) |
points |
25,160 |
7:11 AM |
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S&P500 |
Down |
-0.2% |
percent |
2,727 |
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Nasdaq Composite |
Down |
-0.1% |
percent |
7,245 |
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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 Commerce Department reported the import price index rose 1% in January adding to a picture of rising inflation in the US. Excluding oil, import prices rose 0.4% for the biggest increase in six years. The cost of foreign goods have been rising gradually for months but a spike in oil prices has been the main trigger with fuel imports up 4.7% in January. A a falling dollar has also made imports more expensive. A strong U.S. economy is encouraging Americans to spend is the buy new cars, cell phones, and other imported goods. |
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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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For today’s Morning Market Report click to listen-> |
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