The KUIK Morning Market Report for Tuesday, June 6:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(32)
points
21,151
6:56 AM
S&P500
Down
-0.1%
percent
2,433
(2.99)
Nasdaq Composite
Up
0.0%
percent
6,297
0.83
30 Year Treasury
Down
(4)
Basis Points
2.80
Annual Yield
Corelogic reports home prices for April were 6.9% higher than a year ago, and 1.6% higher than in March. Washington was the hottest state for prices, up 12% annually. Utah was second at 10.1% and Oregon third at 9.1%. CoreLogic forecasts national home price growth of 5.1% in the coming year.
Trump Hotels announced yesterday that Cleveland, Mississippi will be the first location for its new Scion hotel chain, a less upscale brand it announced last fall to cater to younger travelers. Executives also said they plan to launch a new line of hotels called American Idea, intended to compete with chains like Hampton Inn. No word on if they intend to make hotel stays great again.
Politico reports Senate Republican leaders are pressing members to make decisions on moving forward with repealing Obamacare, and are pushing for a vote by the end of June. GOP leaders want resolution to the repeal debate by the Fourth of July recess to ensure that the whole year isn’t consumed by health care and that Republicans leave room to consider tax reform.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
