| The KUIK Market Update for Monday, October 27: | |||||||
| Markets are down but up off their lows at the open. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (7) | points | 16,799 | 7:55 AM | ||
| S&P500 | Down | -0.2% | percent | 1,960 | (4.15) | ||
| Nasdaq Composite | Down | -0.2% | percent | 4,475 | (8.34) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.03 | Annual Yield | ||
| Energy stocks fell in early trading this morning and are the top 20 decliners on the S&P 500. Goldman Sach put out at bearish note on crude oil. Goldman said it expects the shale boom to weigh on oil prices into 2015 and lowered its first-quarter forecast for WTI crude to $75 a barrel down from $90. | |||||||
| The National Association of Realtors reports pending home sales rose 0.3% in September, hitting the second highest level for this year, and showing that upcoming closings of existing homes are likely to pick up. The index of pending home sales reached a seasonally adjusted 105 in September, up from 104.7 in August. 100 equals 2001’s average level of contract activity and pendings usually close within two months. Slower price growth and more homes for sale are probably pushing up pending home sales, according to NAR. Pendings are up 1.4% in the South, and up 1.2% in the Northeast, but down 1.2% in the Midwest, and down 0.8% here in the West. Sales are up 1% from September 2013. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/energy-stocks-crater-in-early-trade-after-bearish-goldman-note-on-oil-2014-10-27 | |||||||
| http://www.marketwatch.com/story/pending-home-sales-nudge-up-03-in-september-2014-10-27-109103?link=MW_Nav_NV | |||||||
| For today’s Market Update Report click to listen-> | |||||||