| The KUIK Market Update for Friday, January 17: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 53 | points | 16,470 | 8:01 AM | ||
| S&P500 | Down | -0.08% | percent | 1,844 | (1.56) | ||
| Nasdaq Composite | Down | -0.15% | percent | 4,213 | (6.17) | ||
| 30 Year Treasury | Up | 1 | Basis Points | 3.78 | Annual Yield | ||
| The Commerce Department said construction on new homes dropped 9.8% in December to a seasonally adjusted annual rate of 999,000, as starts fellfor single-family homes and apartments. Home-construction starts for all of 2013 hit 923,400, the highest annual total since 2007, showing the housing market’s continued recovery. The start rate in December was up 1.6% from December of 2012, and 2013’s annual level was up 18% from 2012. But builders and buyers also facechallenges in 2014. Mortgage rates are expected to continue to rise , and lenders and borrowers face new mortgage rule. | |||||||
| December industrial production grew 0.3%, according to the Federal Reserve, as manufacturing and mining output advanced. The rise was in line with the consensus forecast. For the year, industrial production grew 3.7%, rising 0.9% above its prerecession peak. Capacity utilization edged up to 79.2% from 79.1% in December. November’s gain was downwardly revised to 1% from 1.1%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/new-home-construction-drops-in-december-2014-01-17?link=MW_Nav_EP | |||||||
| http://www.marketwatch.com/story/industrial-production-edges-up-03-in-december-2014-01-17 | |||||||
| For today’s Market Update Report click to listen-> | |||||||