| The KUIK Market Update for Wednesday, March 27: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (56) | points | 14,504 | 8:00 AM | ||
| S&P500 | Down | -0.36% | percent | 1,558 | (5.63) | points | |
| Nasdaq Composite | Down | -0.30% | percent | 3,243 | (9.83) | points | |
| 30 Year Treasury | Down | (4) | Basis Points | 3.09 | Annual Yield | ||
| The U.S. dollar gained ground againist other currencies, with the euro tumbling below $1.28 for the first time since November on renewed political turmoil in Italy. Italian Democratic Party Leader Pier Luigi Bersani failed to get support from the anti-establishment Five-Star Movement that would allow his center-left alliance to form a minority government. Bersani said that”only an insane person would want to govern Italy, which is in a mess and faces a difficult year ahead.” | |||||||
| Pending sales of homes declined 0.4% in February, while longer-term trends showed continuing growth,according to the National Association of Realtors. The pending-home-sales index decreased to 104.8 in February from 105.2 in January, but is up more than 8% from 96.6 in February 2012. | |||||||
| Delinquent borrowers with mortgages owned by Fannie Mae or Freddie Mac will be able to reduce monthly payments without documenting finances under a new program introduced by the Federal Housing Finance Agency. It is designed to stem losses to the mortgage companies by letting borrowers who are at least 90 days behind bypass the administrative hurdles of typical loan modifications. However homeowners may still opt to give their lender documents on their financial hardships and can save more money by doing so.. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/dollar-heads-north-against-euro-and-yen-2013-03-27?link=MW_Nav_EP | |||||||
| http://www.marketwatch.com/story/pending-home-sales-decline-in-february-2013-03-27 | |||||||
| http://www.bloomberg.com/news/2013-03-27/fannie-mae-regulator-sets-no-doc-modifications-to-help-borrowers.html | |||||||
| For today’s Morning Market Report click to listen-> | |||||||