| The KUIK Morning Market Report for Friday, May 22: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (18) | points | 18,268 | 7:13 AM | ||
| S&P500 | Down | 0.0% | percent | 2,130 | (0.43) | ||
| Nasdaq Composite | Up | 0.2% | percent | 5,102 | 10.93 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.00 | Annual Yield | ||
| The Labor Department reports consumer prices rose a seasonally adjusted 0.1% in April. Energy prices fell 1.3% while food prices were unchanged. Core CPI, which excludes volatile food and energy costs, rose 0.3%, driven by increases in housing and medical care costs. This is the fastest increase in core prices since January 2013. | |||||||
| America is in a rent crisis and there is no sign of relief on the horizon as rents continue to surge faster than home prices, according to Zillow. Rents in April rose at their fastest pace since 2013, outpacing home values. The Zillow Rent Index climbed 4% year-over-year to $1,364 in April month while home values rose 3% to a median price of $178,400. Rents are now at their highest since the Zillow Rent Index began tracking national rental values in 2010. Zillow says that when rent accounts for more than 25% of a monthly income, it qualifies as a crisis. American renters have been forking over more than a quarter of their monthly income since June 2001. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-stocks-set-to-sideline-ahead-of-yellen-long-weekend-2015-05-22 | |||||||
| http://www.marketwatch.com/story/americas-rent-crisis-shows-no-sign-of-letting-up-2015-05-21 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||