| The KUIK Market Update for Monday, May 18: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (28) | points | 18,245 | 7:56 AM | ||
| S&P500 | Down | -0.1% | percent | 2,122 | (1.09) | ||
| Nasdaq Composite | Down | -0.1% | percent | 5,045 | (3.23) | ||
| 30 Year Treasury | Up | 9 | Basis Points | 3.01 | Annual Yield | ||
| Confidence among home builders fell two points to 54 in May, led down by views on current sales of single-family homes, according to the National Association of Home Builders and Wells Fargo. Economists expected 58. Readings above 50 signal that home-builders are optimistic about sales trends. May marks the 11th consecutive month above 50. “Mortgage rates remain low, and house prices are affordable. These factors should spur the release of pent-up demand moving forward,” said David Crowe, NAHB’s chief economist. | |||||||
| There is no evidence that zero interest rates in the United States, in place since late 2008, is too-easy, said Charles Evans, the president of the Chicago Fed,today. “There is no meaningful upward momentum in inflation,” Evans said in a speech prepared for delivery to a conference in Stockholm, Sweden. And businesses continue to sit on “piles of cash…This is a sign that they think the real rate of return on prospective investment projects is quite low,” said Evans, a voting member of the Fed policy committee this year. He says Inflation isn’t likely to get above the Fed’s 2% annual target rate until 2018. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/home-builder-confidence-declines-two-points-to-54-in-may-2015-05-18-109101 | |||||||
| http://www.marketwatch.com/story/feds-evans-us-zero-rate-policy-stance-is-not-too-easy-2015-05-18 | |||||||
| For today’s Market Update Report click to listen-> | |||||||