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The KUIK Market Update for Monday, February 26: |
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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 |
220 |
points |
25,530 |
8:14 AM |
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S&P500 |
Up |
0.5% |
percent |
2,762 |
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Nasdaq Composite |
Up |
0.6% |
percent |
7,380 |
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30 Year Treasury |
Down |
(3) |
Basis Points |
3.13 |
Annual Yield |
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New home sales had a big drop in January according to the Commerce Department. Sales ran at a seasonally adjusted annual rate of 593,000. That was 7.8% lower than December and 1% lower than January 2017. Ecoomists expected a 648,000 annual run rate. At the current sales pace there is 6.1 months of supply. The median sales price was $323,000, 2.4% higher than January 2017. |
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Goldman Sachs is looking at the potential of 4.5% on the 10-year treasury by 2019 and the damage it would do to stocks. Its base case is for 3.25% by the end of 2018 but Goldman isn’t counting out the possibility of tougher times for the market. “A rise in rates to 4.5% by year-end would cause a 20% to 25% decline in equity prices,” Goldman economist Daan Struyven says in a note on Bloomberg. |
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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/new-home-sales-collapse-in-january-as-momentum-wavers-2018-02-26 |
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For today’s Market Update Report click to listen-> |
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