The KUIK Morning Market Report for Tuesday, June 27:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(17)
points
21,395
7:18 AM
S&P500
Down
-0.1%
percent
2,436
(3.39)
Nasdaq Composite
Down
-0.4%
percent
6,221
(26.35)
30 Year Treasury
Up
4
Basis Points
2.74
Annual Yield
Marketwatch reports the S&P/Case-Shiller 20-city index of home prices rose 5.7% in the three-months that ended in April compared to a year ago, down from the 5.9% annual gain in March. Economists expected 5.9%. Seattle led, up 2.6% for the month and 12.9% for the year with Portland second, up 1.9% and 9.3% respectively.
Two months after moving to impose 20% tariffs on Canadian softwood lumber commonly used in single-family homes, the Commerce Department announced yesterday that it was considering additional fees that would mean some products would face duties as high as 30.88%. The Trump administration has accused Canada of unfairly selling its lumber in the U.S. below production costs, aided in part by government subsidies. The first round of duties was aimed at countering the subsidies, while the new round is aimed at other factors that the U.S. says is fueling the alleged dumping. Canada has denied the U.S.’s allegations, and Prime Minister Justin Trudeau said he would consider retaliatory measures against the U.S.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
