Morning Market Report 8/25/2015

The KUIK Morning Market Report for Tuesday, August 25:
Markets are rebounding.
Index Direction Change S Time Change
Dow Up                     301  points           16,168 7:03 AM
S&P500 Up 2.2% percent            1,935            41.72
Nasdaq Composite Up 2.7% percent            4,650          123.41
30 Year Treasury Up                       10 Basis Points              2.82 Annual Yield
U.S. house prices rose 1% in June, reflecting sales are up and the supply of properties for sale is down, according to the S&P Case-Shiller 20-city composite index. But prices are off 0.1% on a seasonally adjusted basis. Prices in June were up 5% from a year earlier. “Nationally, home prices continue to rise at a 4% to 5% annual rate, two to three times the rate of inflation,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. Yet he also noted that builders have begun work on more homes, a trend that could help stabilize prices.
Chinese stocks tumbled Tuesday, bringing two-day losses to more than 15%. The Shanghai Composite  finished down 7.6% at 2964.97 and fell as much as 8.2% in the afternoon. China’s main index fell below 3,000 for the first time since December 2014. That follows a drop of 8.5% drop on Monday, the worst single-day loss in more than eight years.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/home-prices-rise-1-in-june-sp-case-shiller-shows-2015-08-25
http://www.marketwatch.com/story/more-volatility-for-asian-markets-as-shares-in-china-japan-slide-2015-08-25
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