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The KUIK Market Update for Tuesday, February 27: |
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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 |
(46) |
points |
25,663 |
8:10 AM |
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S&P500 |
Down |
-0.3% |
percent |
2,770 |
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Nasdaq Composite |
Down |
-0.5% |
percent |
7,383 |
3.00 |
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30 Year Treasury |
Up |
1 |
Basis Points |
3.17 |
Annual Yield |
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The S&P/Case-Shiller national index rose a seasonally adjusted 0.7% in the fourth quarter, and was up 6.4% compared to 2016. The 20-city index rose a seasonally adjusted 0.6% for the month, and 6.3% for the year. Economists expected 0.7% for the month. Strong demand and thin supply of new and previously-owned homes keep pushing prices higher. Portland prices are up 0.2% for the month and 6.8% for the year and Seattle is up 0.6% and 12.7% respectively. Seattle prices are now 24% higher than they were at the height of the bubble, while in Las Vegas, they’re still 27% lower than the 2006 peak. |
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The Commerce Department reports consumer confidence surged in February, the first month Americans started to benefit from the Trump tax cuts, to the highest level since November 2000.The selloff in the stock market did not dampen optimism. Americans were more confident in both the current state of the economy and how it’s likely to perform six months from now. |
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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/home-prices-accelerated-in-december-case-shiller-shows-2018-02-27 |
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For today’s Market Update Report click to listen-> |
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