The KUIK Morning Market Report for Tuesday, March 1:
Markets are up.
Index Direction Change Units Time
Dow Up 124 points 16,640 6:00 PM
S&P500 Up 0.9% percent 1,950
Nasdaq Composite Up 1.1% percent 4,609
30 Year Treasury Unchanged – Basis Points 2.62 Annual Yield
U.S. home prices continued to be strong in January, rsing 1.3% according to Corelogic, and they’re up up 6.9% from a year ago. The company predicts home prices will rise 5.5% in 2016. Denver and San Francisco were up the most, both up more than 11%.
China’s official manufacturing purchasing managers’ index fell to 49.0 in February from 49.4 in January according to the National Bureau of Statistics. It is the seventh straight month of contraction for the world’s second largest economy. Both new orders and production fell.
“Here in the U.S., manufacturers contracted in February for the fifth straight month, though at a slower pace. The Institute for Supply Management said its manufacturing index rose to 49.5% last month from 48.2% in January. Economists expected 48.7%. Readings under 50% indicate more companies are cutting back instead of expanding.”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/home-price-growth-continues-as-oil-patch-remains-resilient-corelogic-says-2016-03-01
http://www.marketwatch.com/story/chinas-manufacturing-pmi-highlights-sluggishness-2016-02-29
http://www.marketwatch.com/story/ism-manufacturing-index-rises-to-495-in-february-2016-03-01?link=MW_home_latest_news
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