| The KUIK Market Update for Thursday, January 23: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (180) | points | 16,194 | 7:55 AM | ||
| S&P500 | Down | -1.01% | percent | 1,826 | (18.68) | ||
| Nasdaq Composite | Down | -1.01% | percent | 4,200 | (42.77) | ||
| 30 Year Treasury | Down | (5) | Basis Points | 3.71 | Annual Yield | ||
| China is hurting the stock market. The preliminary HSBC/Markit China manufacturing Purchasing Managers’ Index fell to a six-month low of 49.6, down from a final December reading of 50.5. Economists expected 50.3. Above 50 indicates expansion. That sent Chinese stocks and the Australian dollar lower. New orders declined, and new export orders, already contracting showed a faster rate of losses. The employment subindex also fell at a faster rate than in December | |||||||
| After falling for three months, sales of existing homes rose 1% in December to a seasonally adjusted annual rate of 4.87 million, pushing 2013’s total sales to the highest level in seven years, according to the National Association of Realtors. For all of 2013, existing-home sales hit a little more than 5 million, up 9.1% from the prior year. The medianprice of previously owned homes hit $198,000 in December, up 9.9% from the year-earlier period, supported by low inventory, for the strongest growth since 2005. December’s inventory was 1.86 million existing homes for sale, a 4.6-month supply at the current rate | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/china-factory-data-show-contraction-stocks-drop-2014-01-22 | |||||||
| http://www.marketwatch.com/story/existing-home-sales-rise-1-in-december-2014-01-23?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||