The KUIK Market Update for Friday, February 12:
Markets are up.
Index Direction Change Units Time
Dow Up 179 points 15,841 7:34 AM
S&P500 Up 1.1% percent 1,849
Nasdaq Composite Up 0.8% percent 4,300
30 Year Treasury Up 4 Basis Points 2.54 Annual Yield
“Consumer sentiment fell to 90.7 according to the University of Michigan’s preliminary February reading. That was down from 92.0 in January. Economists expected it to be unchanged. Both expectations and current conditions fell. Consumer views of their financial situations improved, but largely because they expect lower inflation.
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Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.65% for the week ending February 11, down from last week’s 3.72%. A year ago it was 3.69%. The 15-year fixed averaged 2.95% with an down from 3.01% last week. A year ago it was 2.99%.
The Japanese Nikkei finished down 11% for the week, its biggest weekly percentage drop since October 2008. For the day, the index ended off 4.8% at 14,952.61, the lowest close since October 2014. The Nikkei’s is down 21% year-to-date, almost as steep as the losses in China’s mainland stock market,
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/consumer-sentiment-weakens-in-february-university-of-michigan-says-2016-02-12?link=MW_home_latest_news
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-down-again-hovering-just-above-201-otcqb-fmcc-1243559
http://www.marketwatch.com/story/japan-stocks-plunge-to-lowest-point-in-more-than-a-year-2016-02-11
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