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The KUIK Market Update for Friday, February 23: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Up |
160 |
points |
25,120 |
8:12 AM |
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S&P500 |
Up |
0.7% |
percent |
2,723 |
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Nasdaq Composite |
Up |
0.7% |
percent |
7,261 |
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30 Year Treasury |
Down |
(5) |
Basis Points |
3.16 |
Annual Yield |
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A survey from the National Association of Realtors says that 61% of people who intend to buy a home in the next 12 months have been searching for at least three months. 42% said they “can’t find a home at a price I can afford,” while 36% “can’t find a home with the features I want” and 34% “can’t find a home in the neighborhood I want.” Nnearly 30% said they ‘continue to get outbid whenever I make an offer.” |
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The Federal Reserve plans gradual interest-rate increases but wants to keep the fed funds rate on the low side, accordintg to its monetary policy report to Congress. Chairman Jerome Powell will testify about the report next week. The Fed is not alarmed about wage inflation, saying the "growth of labor compensation has been moderate." On the stock market, the Fed said valuation pressures remain elevated and that there are signs nonbank financial leverage has been building,with hedge funds that invest in stocks. |
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Sign up for a Social Security and Retirement Analysis at brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/fed-says-it-is-still-planning-to-raise-interest-rates-gradually-2018-02-23 |
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For today’s Market Update Report click to listen-> |
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