The KUIK Market Update for Wednesday, December 30:
Markets are down.
Index Direction Change Units Time
Dow Down (40) points 17,680 7:58 AM
S&P500 Down -0.3% percent 2,072
Nasdaq Composite Down -0.3% percent 5,092
30 Year Treasury Unchanged – Basis Points 3.04 Annual Yield
Oil is down with February crude off 2.9% to $36.75 a barrel on the New York Merc. Oil futures were up 3% yesterday as the chance of colder weather raised expectations for stronger demand for heating fuels. The Energy Information Administration reported crude stockpiles rose by 2.6 million barrels.
The National Association of Realtorsā monthly index of pending home sales fell 0.9 to 106.9, after rising in October for the first time in two months. Novemberās level is 2.7% higher compared to a year ago, marking the 15th-straight month of annual gains.The index forecasts future sales by tracking real estate transactions in which a sales contract has been signed but the deal has not yet closed. The NAR says its recent performance shows a āmodestly slowing trendā that began after pending sales hit a nine-year high in May. NAR expects existing-home sales of 5.25 million for 2015, with a median price of $220,700, 6% higher than a year ago.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/crude-prices-fall-on-indications-of-a-big-us-supply-jump-2015-12-30
http://www.marketwatch.com/story/pending-home-sales-fall-09-in-november-2015-12-30
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