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The KUIK Market Update for Wednesday, March 21: |
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Markets are mixed. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Down |
(45) |
points |
24,682 |
7:44 AM |
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S&P500 |
Down |
-0.1% |
percent |
2,715 |
(1.57) |
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Nasdaq Composite |
Up |
0.0% |
percent |
7,365 |
2.00 |
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30 Year Treasury |
Up |
2 |
Basis Points |
3.13 |
Annual Yield |
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The National Association of Realtors reports existing-home sales ran at a seasonally adjusted pace of 5.54 million in February. Economists expected a 5.4 million annual run rate. Sales snapped a two-month losing streak, jumping 3.0% from January and are 1.1% higher than February of 2017, and higher than 2017’s 5.51 million, a sign of solid demand. But the supply of homes for sale was at the lowest level for any February on record. A there is only 3.4 months of inventory, about half the amount of time considered a healthy market. Supply was 8.1% lower than a year ago and homes spent an average of 37 days on the market. The median price was $241,700, 5.9% higher than a year ago. |
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The administration plans to release on Thursday a package of proposed measures aimed at China that include tariffs on imports of at least $30 billion. They won’t be imposed immediately. U.S. industry will be given an opportunity to comment on which products should be subject to the duties. As part of the package, the White House will announce possible investment restrictions by Chinese firms in the U.S. |
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Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK. |
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For today’s Market Update Report click to listen-> |
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