| The KUIK Market Update for Wednesday, December 26: | |||||||
| After a flat open, markets are now trading down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (8) | points | 13,131 | 8:04 AM | ||
| S&P500 | Down | -0.33% | percent | 1,422 | (4.70) | points | |
| Nasdaq Composite | Down | -0.47% | percent | 2,995 | (16.65) | points | |
| 30 Year Treasury | Down | (1) | Basis Points | 2.93 | Annual Yield | ||
| US home prices dropped slightly in October on Seasonal weakness with 12 out of 20 cities seeing lower prices. The S&P/Case-Shiller 20-city composite posted a 0.1% decrease in October following a 0.2% gain in September. In Portland, prices rose 0.9% in October, and were up 5.2% from a year ago and in Seattle prices dropped 0.2% but rose 5.7% over the last year. | |||||||
| Retail stocks are down the day after Christmas. Indications point to disappointing holiday season sales through Christmas. The Johnson Redbook Retail Sales Index, said sales month to date have missed expectations. Retailers have now shifted their merchandising focus to post Christmas clearance sales. | |||||||
| President Obama will return from his Hawiian vacation tomorrow for another round of fiscal cliff negotiations with Congress. They will probably drink a lot of coffee. Starbucks Chief Executive Howard Schultz is urging workers in the 120 Washington-area Starbucks shops to write “come together” on customers’ cups on Thursday and Friday. Let’s hope it helps. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/city-by-city-look-at-us-house-prices-2012-12-26 | |||||||
| http://www.marketwatch.com/story/disappointing-holiday-sales-dent-retail-stocks-2012-12-26 | |||||||
| http://news.yahoo.com/starbucks-cups-send-fiscal-cliff-message-lawmakers-130316123–finance.html | |||||||
| For today’s Market Update Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||