| The KUIK Morning Market Report for Friday, October 24: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (18) | points | 16,660 | 7:07 AM | ||
| S&P500 | Down | -0.2% | percent | 1,946 | (4.40) | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,447 | (5.93) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.02 | Annual Yield | ||
| Bloomberg reports Amazon reported earnings yesterday and posted its biggest quarterly net loss since at least 2003. It also forecast sales and profit for the fourth quarter that missed analysts’ projections. Amazon is on track to lose an estimated $40.5 million for the year, which would be the company’s largest annual loss in 12 years. Amazon shares are down 7.25% to $290.27. | |||||||
| The Commerce Department reports new homes sold at an annual rate of 467,000 in September, compared to a revised 466,000 in Augus. Economists expected a seasonally adjusted 455,000. Sales in September were the highest since July 2008, and up 17% compared to September 2013. Sales were up 12.3% in the Midwest and 2% in the South, flat in the Northeast, and down 8.9% in the West. The median price of new homes sold fell 8.9% to $259,000 last month, for the lowest level in a year. The supply of new homes was flat at 5.3 months at the current sales pace. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2014-10-24/amazon-ceo-bezos-faces-season-of-worsts-as-losses-mount.html | |||||||
| http://www.marketwatch.com/story/sales-of-new-homes-rise-slightly-to-467000-rate-in-september-2014-10-24?link=MW_Nav_NV | |||||||
| For today’s Morning Market Report click to listen-> | |||||||
October 24, 2014