| The KUIK Morning Market Report for Monday, July 28: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (69) | points | 16,891 | 7:25 AM | ||
| S&P500 | Down | -0.5% | percent | 1,968 | (9.86) | ||
| Nasdaq Composite | Down | -0.8% | percent | 4,416 | (33.49) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.24 | Annual Yield | ||
| The National Association of Realtors reports pending home sales fell 1.1% June to mark the first decline in four months. It pending sales index dropped to 102.7 in June from a revised 103.8 in May. 100 is an average pace of sales. The index is down 7.3% from a year-ago, showing that sales still face challenges such as higher interest rates, difficulty obtaining mortgages, and stagnant wages of prospective buyers. Lawrence Yun, NAR’s chief economist, predicts that sales are likely to increase modestly in the second half of 2014 as home prices level off and more properties go on sale. By region, pending home sales rose 1.1% in the Midwest and 0.2% in the West, but they fell 2.9% in the Northeast and 2.4% in the South. | |||||||
| September West Texas Intermediate crude is off 0.8%, to $101.26 a barrel. U.S. oil futures have dropped 3% this month on increased world supply. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/pending-us-home-sales-decline-slightly-in-june-2014-07-28 | |||||||
| http://www.marketwatch.com/story/oil-futures-decline-on-supply-concerns-2014-07-28 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||