The KUIK Morning Market Report for Wednesday, June 28:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
122
points
21,433
7:21 AM
S&P500
Up
0.6%
percent
2,434
14.17
Nasdaq Composite
Up
0.5%
percent
6,175
28.48
30 Year Treasury
Up
5
Basis Points
2.79
Annual Yield
The Census Bureau reports the advanced trade gap in goods — services are excluded — fell by 1.8% in May to $65.9 billion. The government will release overall trade numbers for May next week. An advanced look at wholesale inventories show a 0.3% increase while retail inventories are up 0.6%.
The National Association of Realtors reports pending home sales fell 0.8% in May to 108.5, for the third straight monthly decline. It’s down 1.7% compared to a year ago. No region increased. The Northeast was down 0.8%, the South down 1.2%, the Midwest was unchanged and off 1.3% here in the West. Only the Northeast is higher than a year ago. According to economists Lawrence Yun: “Buyer interest is solid, but there is just not enough supply to satisfy demand,” and “prospective buyers are being sidelined by both limited choices and home prices that are climbing too fast.”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
