| The KUIK Market Update for Tuesday, February 26: |
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| Markets are up. |
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| Index |
Direction |
Change |
Units |
Last |
Time |
Change |
|
| Dow |
Up |
77 |
points |
13,858 |
7:29 AM |
|
|
| S&P500 |
Up |
0.22% |
percent |
1,491 |
|
3.30 |
points |
| Nasdaq Composite |
Up |
0.11% |
percent |
3,120 |
|
3.51 |
points |
| 30 Year Treasury |
Down |
(2) |
Basis Points |
3.07 |
Annual Yield |
|
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| Home prices rose in December, as 2012 saw the best improvement in seven years, according to the S&P/Case-Shiller 20-city composite index. It posted a 0.2% increase in December, following a 0.1% decline in November. After seasonal adjustment, home prices rose 0.9% in December. |
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More housing data–Marketwatch reports sales of new homes jumped 15.6% in January to an annual rate of 437,000 to mark the highest pace of activity since July 2008, according to the Commerce Department. The rate of sales in beat the 384,000 estimate of economists. December sales were revised upward to 378,000 from an initial read of 369,000. The median price of new homes, however, fell more than 9% to $226,400 in January from $249,800, indicating that buyers moved to less expensive properties. Sales rose the fastest in the West, up 45.3%.
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| J.P. Morgan Chase will cut staff by 4,000 as part of its plan to reduce expenses in 2013, according to a presentation by the firm. The cuts were presented during the firm’s annual Investor Day conference held in New York on Tuesday. J.P. Morgan also plans to cut expenses by $1 billion in 2013. |
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| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. |
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| http://www.marketwatch.com/story/annual-home-price-gain-best-in-seven-years-2013-02-26 |
| http://www.marketwatch.com/story/new-home-sales-jump-to-highest-pace-since-mid-2008-2013-02-26 |
| http://www.marketwatch.com/story/jp-morgan-will-cut-4000-jobs-in-2013-2013-02-26 |
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| For today’s Morning Market Report click to listen-> |
https://beaconrwa.com/audio/Market-Update-Report.mp3 |
