Market Update Report 7/25/2017

The KUIK Market Update for Tuesday, July 25:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 111 points 21,624 8:26 AM
S&P500 Up 0.4% percent 2,479 9.37
Nasdaq Composite Up 0.0% percent 6,411 0.15
30 Year Treasury Up 7 Basis Points 2.90 Annual Yield
The S&P/Case-Shiller 20-city index rose 5.7% during the three months that ended in May compared to a year ago, but down 5.8% from the previous three month period. The broader national index rose 5.6% for the year in May, the same as in April. Seattle led, up 13.3% for the year and 1.8% for the month, followed by Portland, up 8.9% for the year and 1.3% for the month.
The Conference Board said its consumer confidence index rose to 121.1 this month from 117.3 in June. That exceeded the 116.9 expected by economists. That’s has only been exceeded by March’s 124.9. The present situation index that tracks how consumers view the economy now rose to 147.8 from 143.9. That’s the highest level since mid-2001. The future expectations index that tracks how consumers think the economy will perform in six month increased to 103.3 from 99.6.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/home-price-growth-stays-strong-and-the-west-is-still-the-best-case-shiller-says-2017-07-25
http://www.marketwatch.com/story/consumer-confidence-back-near-16-year-high-2017-07-25
For today’s Market Update Report click to listen->

Morning Market Report 7/25/2017

The KUIK Morning Market Report for Tuesday, July 25:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 83 points 21,597 7:12 AM
S&P500 Up 0.2% percent 2,475 5.41
Nasdaq Composite Down 0.0% percent 6,409 (1.91)
30 Year Treasury Up 5 Basis Points 2.88 Annual Yield
The S&P/Case-Shiller 20-city index rose 5.7% during the three months that ended in May compared to a year ago, but down 5.8% from the previous three month period. The broader national index rose 5.6% for the year in May, the same as in April. Seattle led, up 13.3% for the year and 1.8% for the month, followed by Portland, up 8.9% for the year and 1.3% for the month.
Google-parent Alphabet reported second-quarter earnings yesterday after the close. Profit and revenue beat consensus estimates. Google recognized a non-deductible $2.74 billion European Union fine in its results, lowering profit. Google said second-quarter earnings were $5.01 a share, down 28% from a year ago, with revenue rising 21% to $26 billion. Excluding the one-time charge, Google said it earned $8.90 per share.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/home-price-growth-stays-strong-and-the-west-is-still-the-best-case-shiller-says-2017-07-25
https://www.investors.com/news/technology/google-q2-earnings-beat-consensus-estimates-reflecting-eu-fine/
For today’s Morning Market Report click to listen->

Closing Market Report 7/24/2017

The KUIK Closing Market Report for Monday, July 24:
Markets were mixed.
Index Direction Change Units Index Time Change
Dow Down (67) points 21,513 2:11 PM
S&P500 Down -0.1% percent 2,470 (2.63)
Nasdaq Composite Up 0.4% percent 6,411 23.05
30 Year Treasury Up 3 basis points 2.83 Annual Yield
Gold prices saw a small loss today ending their six-session winning streak. Prices turned lower as U.S. dollar added to earlier strength, with the ICE U.S. Dollar Index up 0.2% at 94.03, near the session’s high of 94.12, as gold prices settled. A stronger dollar often pressures prices for gold that’s traded in the greenback. August gold fell 60 cents, or less than 0.1%, to $1,254.30 an ounce on the New York Merc.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/gold-settles-with-a-slight-loss-ending-its-streak-of-gains-2017-07-24
For today’s Closing Market Report click to listen->

Market Update Report 7/24/2017

The KUIK Market Update for Monday, July 24:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (67) points 21,513 7:47 AM
S&P500 Down -0.2% percent 2,469 (3.79)
Nasdaq Composite Up 0.0% percent 6,390 2.39
30 Year Treasury Up 2 Basis Points 2.82 Annual Yield
The IHS Markit flash U.S. manufacturing purchasing managers index rose to 53.2 in July from 52 in June. And that is a four month high. Readings increased for output, new orders, employment, and inputs. IHS said the increase is due to higher demand and clents being less risk averse. The flash U.S. services PMI meanwhile stayed at 54.2, tied for the best level since January.
Existing-home sales ran at a seasonally adjusted 5.52 million annual rate in June, according to the National Association of Realtors. That was 0.7% above the year-ago rate, but 1.8% lower than in May and was the second-lowest month of 2017. It missed the MarketWatch consensus forecast of 5.58 million. Inventory is 7.1% lower than a year ago, and there is 4.3 months of supply at the current sales pace. That’s pushing prices higher. The median sales price was $263,800, 6.5% higher compared to a year ago. That’s a new record and the 64th consecutive month of annual gains. Housing prices are growing at roughly double the pace of wages.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/manufacturing-pmi-hits-four-month-high-in-july-2017-07-24
http://www.marketwatch.com/story/existing-home-sales-fall-in-june-as-market-retrenches-after-hot-spring-season-2017-07-24
For today’s Market Update Report click to listen->

Morning Market Report 7/24/2017

The KUIK Morning Market Report for Monday, July 24:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (37) points 21,543 7:13 AM
S&P500 Down -0.1% percent 2,469 (3.25)
Nasdaq Composite Up 0.1% percent 6,393 5.07
30 Year Treasury Up 2 Basis Points 2.82 Annual Yield
The IHS Markit flash U.S. manufacturing purchasing managers index rose to 53.2 in July from 52 in June. And that is a four month high. Readings increased for output, new orders, employment, and inputs. IHS said the increase is due to higher demand and clents being less risk averse. The flash U.S. services PMI meanwhile stayed at 54.2, tied for the best level since January. Readings above 50 indicate improving conditions. The flash readings are based on 85% to 90% of total survey responses each month.
The International Monetary Fund has lowered its U.S. economic growth forecasts for this year and next. In itsWorld Economic Outlook update released Sunday, the IMF cut its U.S. gross domestic product forecast for 2017 to 2.1% from a prior forecast of 2.3%, and its 2018 outlook to 2.1% from 2.5%. The downgrade for this year partly reflects weak first-quarter growth. The biggest factor behind growth revisions, especially for 2018, "is the assumption that fiscal policy will be less expansionary than previously assumed."
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/manufacturing-pmi-hits-four-month-high-in-july-2017-07-24
http://www.marketwatch.com/story/imf-cuts-us-growth-forecast-for-2017-2018-2017-07-24
For today’s Morning Market Report click to listen->

Closing Market Report 7/21/2017

The KUIK Closing Market Report for Friday, July 21:
Markets were mixed.
Index Direction Change Units Index Time Change
Dow Down (32) points 21,580 1:20 PM
S&P500 Down 0.0% percent 2,473 (0.91)
Nasdaq Composite Down 0.0% percent 6,388 (2.25)
30 Year Treasury Down (4) basis points 2.80 Annual Yield
President Trump signed an executive order today directing a review of the U.S. defense-industrial base. The goal, according to Peter Navarro, director of the White House Office of Trade and Manufacturing Policy, is to "assess where we source things and what risk that may entail." Some items like flat-screen displays and military grade semiconductors are difficult or impossible to source domestically, making the military supply chain vulnerable.The report is due within 270 days.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/trump-orders-report-on-how-us-defense-and-industry-are-sourced-2017-07-21-11913418
For today’s Closing Market Report click to listen->

Market Update Report 7/21/2017

The KUIK Market Update for Friday, July 21:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (80) points 21,530 6:44 AM
S&P500 Down -0.2% percent 2,469 (4.07)
Nasdaq Composite Down -0.1% percent 6,382 (8.33)
30 Year Treasury Down (4) Basis Points 2.81 Annual Yield
The International Monetary Fund’s board has backed a $1.8 billion bailout for Greece “in principle.” It still considers the country’s debt “unsustainable” without significant relief by Athens’s creditors. The ceiling on the amount of debt Greece can hold gives the country little room to get out of its commitments to overhaul the economy and restructure its debt. Greece’s current bailout sets the debt ceiling for the central government at around €325 billion ($374 billion), accounting for the country’s current debt and bailout funds.
The U.S. government will ban its citizens from traveling to North Korea as tourists starting in August. Two tour operators, China-based Koryo Tours and Young Pioneer Tours, said Friday the Swedish Embassy in Pyongyang, which handles U.S. diplomatic affairs in North Korea, had contacted them separately by phone to inform them of the U.S. action. The ban comes just weeks after U.S. college student Otto Warmbier, who was detained while on a tour in Pyongyang last year, died after he returned home in June with a severe brain injury.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/imf-backs-conditional-18-billion-bailout-for-greece-2017-07-21
http://www.marketwatch.com/story/us-to-ban-tourist-visits-to-north-korea-tour-operators-say-2017-07-21
For today’s Market Update Report click to listen->

Morning Market Report 7/21/2017

The KUIK Morning Market Report for Friday, July 21:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (36) points 21,575 6:35 AM
S&P500 Down -0.3% percent 2,467 (6.20)
Nasdaq Composite Down -0.3% percent 6,373 (17.38)
30 Year Treasury Down (4) Basis Points 2.81 Annual Yield
The International Monetary Fund’s board has backed a $1.8 billion bailout for Greece “in principle.” It still considers the country’s debt “unsustainable” without significant relief by Athens’s creditors. The ceiling on the amount of debt Greece can hold gives the country little room to get out of its commitments to overhaul the economy and restructure its debt. Greece’s current bailout sets the debt ceiling for the central government at around €325 billion ($374 billion), accounting for the country’s current debt and bailout funds.
The U.S. government will ban its citizens from traveling to North Korea as tourists starting in August. To tour operators, China-based Koryo Tours and Young Pioneer Tours, said Friday the Swedish Embassy in Pyongyang, which handles U.S. diplomatic affairs in North Korea, had contacted them separately by phone to inform them of the U.S. action. The ban comes just weeks after U.S. college student Otto Warmbier, who was detained while on a tour in Pyongyang last year, died after he returned home in June with a severe brain injury.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/imf-backs-conditional-18-billion-bailout-for-greece-2017-07-21
http://www.marketwatch.com/story/us-to-ban-tourist-visits-to-north-korea-tour-operators-say-2017-07-21
For today’s Morning Market Report click to listen->

Closing Market Report 7/20/2017

The KUIK Closing Market Report for Thursday, July 20:
Markets were mixed.
Index Direction Change Units Index Time Change
Dow Down (29) points 21,612 1:11 PM
S&P500 Down 0.0% percent 2,473 (0.38)
Nasdaq Composite Up 0.1% percent 6,390 4.96
30 Year Treasury Down (1) basis points 2.84 Annual Yield
Theexpiring August contract for West Texas Intermediate crude fell -0.7% to finish at $46.79 a barrel on the New York Merc. OPEC oil ministers will have their monthly meeting to monitor producer compliance with output quotas Monday in St. Petersburg, Russia. It will include some non-OPEC producers including Russia, Libya, and Nigeria. Accelerating output from those three and especially the US is a major threat to OPEC’s efforts to tackle a year old global glut of oil.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/crude-prices-pause-hovering-around-6-week-high-2017-07-20
For today’s Closing Market Report click to listen->

Market Update Report 7/20/2017

The KUIK Market Update for Thursday, July 20:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (22) points 21,618 8:16 AM
S&P500 Down 0.0% percent 2,473 (0.60)
Nasdaq Composite Up 0.0% percent 6,387 1.52
30 Year Treasury Down (2) Basis Points 2.83 Annual Yield
The Labor Department reports new claims for unemployment benefits fell by 15,000 to a seasonally adjusted 233,000 last week. Continuing claims increased by 28,000 to 1.98 million the week ended July 8.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.96% this week, down from last week’s 4.03%. A year ago it was 3.45%. The 15-year fixed averaged 3.23% down from3.29%. A year ago it was 2.75%.
The Conference Board reports the index of Leading Economic Indicators rose 0.6% in June after May’s revised 0.4% increase. That suggests growth could speed up in coming months. The improvement in the index was led by strong housing permits after several months of weakness.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-plummet-15000-to-233000-2017-07-20
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-move-lower-otcqb-fmcc-1316009
http://www.marketwatch.com/story/us-economy-poised-for-faster-growth-leading-indicators-say-yes-2017-07-20
For today’s Market Update Report click to listen->

Morning Market Report 7/20/2017

The KUIK Morning Market Report for Thursday, July 20:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (9) points 21,631 7:03 AM
S&P500 Up 0.1% percent 2,476 2.37
Nasdaq Composite Up 0.1% percent 6,390 4.85
30 Year Treasury Down (3) Basis Points 2.82 Annual Yield
The Labor Department reports new claims for unemployment benefits fell by 15,000 to a seasonally adjusted 233,000 last week. Continuing claims increased by 28,000 to 1.98 million the week ended July 8.
The Philadelphia Federal Reserve said its manufacturing survey in July fell to 19.5 from 27.6 in June. Any reading above zero indicates improving conditions. Economists expected 22. The indexes for activity, new orders, shipments, employment, and work hours were all positive but fell from June. A report from the New York Fed released earlier this week also showed a deceleration in July. The drops come when manufacturing is recovering, but mostly because of gains in the oil and gas sector. Industrial production in June rose for the fifth consecutive month, according to separate data from the Fed.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-plummet-15000-to-233000-2017-07-20
http://www.marketwatch.com/story/philly-fed-manufacturing-report-shows-slowing-growth-in-july-2017-07-20
For today’s Morning Market Report click to listen->

Market Update Report 7/19/2017

The KUIK Market Update for Wednesday, July 19:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 31 points 21,606 8:26 AM
S&P500 Up 0.3% percent 2,467 6.44
Nasdaq Composite Up 0.5% percent 6,373 28.92
30 Year Treasury Unchanged Basis Points 2.85 Annual Yield
The Commerce Department reports housing starts for June ran at a 1.22 million seasonally adjusted annual rate, 8.3% higher than in May and 2.1% higher for the year. Economists expected a 1.16 million annual rate. Single-family starts were 6.3% higher than in May, a sign builders are concentrating on homes to be purchased, instead of rented.
The Trump administration plans to nominate Hester Peirce to fill a vacancy as a Republican member of the Securities and Exchange Commission, according to Marketwatch. Peirce is a longtime policy expert who has frequently criticized the postcrisis regime set by Democrats for regulating Wall Street. She is a researcher at George Mason University and was nominated during the Obama administration two years ago to fill a Republican seat at the SEC. Her nomination ran into problems after Democratic senators raised objections to her as well as their own party’s choice to fill a commissioner slot reserved for Democrats. President Trump is ready to nominate her again. Her move to the SEC, which has five commissioners when it is at full strength, would make it easier for Chairman Jay Clayton to carry out an agenda focused on reducing the regulatory burden on public companies.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/housing-starts-jump-as-construction-home-buying-get-back-on-track-2017-07-19
http://www.marketwatch.com/story/hester-peirce-on-tap-to-be-republican-sec-commissioner-2017-07-18
For today’s Market Update Report click to listen->

Morning Market Report 7/19/2017

The KUIK Morning Market Report for Wednesday, July 19:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 14 points 21,588 7:16 AM
S&P500 Up 0.2% percent 2,467 5.98
Nasdaq Composite Up 0.4% percent 6,367 23.09
30 Year Treasury Unchanged Basis Points 2.85 Annual Yield
The Commerce Department reports housing starts for June ran at a 1.22 million seasonally adjusted annual rate, 8.3% higher than in May and 2.1% higher for the year. Economists expected a 1.16 million annual rate. Permits, a sign of future demand were 1.25 million annually, up 7.4% for the month and 5.1% for the year. Single-family starts were 6.3% higher than in May, a sign builders are concentrating on homes to be purchased, instead of rented.
Investors are looking at a double-header of central bank meetings. The Bank of Japan will announce the outcome of its policy meeting early Thursday morning. The European Central Bank will meet on Friday. Economists expect ECB President Mario Draghi to stick to the status quo and reiterate his view that monetary easing should stay accommodative meaning low rates and easy access to capital.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/housing-starts-jump-as-construction-home-buying-get-back-on-track-2017-07-19
http://www.marketwatch.com/story/treasury-yields-tick-higher-after-strong-housing-starts-number-2017-07-19
For today’s Morning Market Report click to listen->

Closing Market Report 7/18/2017

The KUIK Closing Market Report for Tuesday, July 18:
Markets were mixed.
Index Direction Change Units Index Time Change
Dow Down (55) points 21,575 5:08 PM
S&P500 Up 0.1% percent 2,461 1.47
Nasdaq Composite Up 0.5% percent 6,344 29.87
30 Year Treasury Down (4) basis points 2.85 Annual Yield
The National Association of Home Builders monthly cofidence index fell two points to 64. June was initially reported as 67. It was revised downward by one point. Every component of the sentiment index declined.Current conditions and views of the coming six months both fell two points, to 70 and 73. The index that prospective buyers trafic fell one point to 48. Readings over 50 indicate improvement. Rising material costs, especially lumber is worrying the home builders.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/builder-sentiment-stumbles-to-8-month-low-on-higher-lumber-costs-2017-07-18
For today’s Closing Market Report click to listen->

Market Update Report 7/18/2017

The KUIK Market Update for Tuesday, July 18:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (102) points 21,527 8:29 AM
S&P500 Down -0.1% percent 2,456 (2.87)
Nasdaq Composite Up 0.1% percent 6,321 6.31
30 Year Treasury Down (3) Basis Points 2.86 Annual Yield
Senate GOP leaders have abandoned their effort to dismantle and replace Obamacare. Republican Sens. Mike Lee of Utah and Jerry Moran of Kansas last night joined Rand Paul of Kentucky and Susan Collins of Maine to oppose the latest version of the GOP bill, which would have rolled back and replaced much of the Affordable Care Act. Majority Leader Mitch McConnell said the Senate would vote “in coming days” on a bill it passed in late 2015 to repeal most of the Affordable Care Act, which then President Obama vetoed in January 2016.
The U.K.’s Advertising Standards Authority plans to crack down on commercials that feature gender stereotypes, saying they “might be potentially harmful to people.” The ban would hit ads that show “a man trying and failing to undertake simple parental or household tasks,” says a new 64-page report. One showing a woman alone cleaning up a mess that her family made would also probably ring alarm bells. The ASA said it has received complaints about the public about these kinds of ads, but has been unable to act as they do not violate current standards. Its new rules under development, would take effect next year. In the meantime, the plan has polarized Britons, with some praising the initiative as others blast it.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/health-care-overhaul-seems-sunk-as-two-more-republicans-oppose-senate-bill-2017-07-17
http://www.marketwatch.com/story/brits-get-ready-to-ban-sexist-ads-2017-07-18
For today’s Market Update Report click to listen->