| The KUIK Market Update for Wednesday, February 18: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | (37) | points | 18,011 | 7:38 AM | ||
| S&P500 | Down | -0.3% | percent | 2,095 | (5.34) | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,896 | (3.43) | ||
| 30 Year Treasury | Down | (3) | Basis Points | 2.71 | Annual Yield | ||
| The Commerce Department reports construction on new homes fell by 2% in January to 1.07 million annually and that matched expectations. Heavy snowfall hindered builders in the Midwest and Northeast. Permits also fell slightly but indicate that the pace of construction is likely to remain at or near current levels heading into the spring. | |||||||
| European stock markets moved higher today, boosted by reports that Greece will ask for an extension to its loan agreement tomorrow. The Stoxx Europe 600 index up 0.8% to 379.83, setting it on track for the highest level since November 2007. Greece’s Athex Composite index added 0.9% to 845.42, reversing after a 2.5% slide on Tuesday. Greek banks rallied. The Greek government waill submit a request for an up to six-month extension. So far, Greece only wants a new loan deal and is not looking for a continuation of the full bailout program, arguing that the attached conditions are hurting the country’s economy and society. Germany has already indicated that it won’t accept a loan agreement without a formal extension of the bailout program, including the strict austerity terms. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-housing-starts-dip-in-january-to-107-million-annual-rate-2015-02-18 | |||||||
| http://www.marketwatch.com/story/greek-deal-hopes-boost-europes-stock-markets-2015-02-18 | |||||||
| For today’s Market Update Report click to listen-> | |||||||