Posted: Aug 25, 2013 2:45 PM by William Joy, KOMU 8 Reporter
Updated: Aug 25, 2013 7:49 PM
COLUMBIA -The S&P 500, NASDAQ and Wilshire 5000 all snapped two-week losing streaks this week.
The three indexes were up .5 percent, 1.5 percent and .7 percent respectively. The Wilshire 5000 isn't as commonly used, but is a great index to look at because it includes all actively traded stocks in the US. The Dow Jones Industrial Average slipped .47 percent for the week.
On Thursday, trading of the NASDAQ flat-lined when trading stopped because of a technical glitch. Two of the reasons for gains this week were a 9 percent boost from Facebook after reports showed an increase in mobile usage and another 9 percent jump, this one from Microsoft, when CEO Steve Balmer announced Friday he'll be retiring within 12 months. Balmer is only Microsoft's second CEO since its founding, when Bill Gates was at the reigns of the company.
The closely watched housing market got some big news this week.
Commerce Department numbers showed a 13.4 percent decrease in new home sales for July, which is the biggest drop in three years. Analysts say rising mortgage rates are the biggest reason for the decline in sales. The current average rate for a 30-year loan is 4.58 percent, the highest in two years. On the other hand, existing home sales went up 6.5 percent. The difference between the two is mainly because existing home sales are closed contracts and don't represent the recent rise in rates.
Locally, the Federal Housing Finance Agency's House Price Index showed a 1.51 percent gain in Columbia MSA housing prices for the second quarter of the year, which was close to Missouri's 1.55 percent increase, but below the national average of 2.1 percent. In the past year, Missouri's prices have gone up 3.25 percent, which ranks 36 in the nation, and Columbia's have increased 2.49 percent. You can view the full report here.
The big reports to watch this week are the Consumer Confidence Index that comes out on Tuesday and looks at the spending and saving habits of consumers. On Thursday the Second Quarter GDP estimate comes out, which gives a very broad outlook on the economy and could dictate how soon the Federal Reserve tapers off its pumping of money into the economy through quantitative easing. Analysts think a number over 2.5 percent could mean that starts sooner than later. The same day we'll get a look at how many people are filing for unemployment insurance for the first time when initial jobless claims come out, and Friday, the Bureau of Economic Analysis releases personal income, which is important because more income could drive the spending and home buying numbers higher.
Posted 4:19 AM 11/28/2015 by The Associated Press
JEFFERSON CITY, Mo. (AP) — The Governor's Mansion is about to look a little more festive.
The Christmas trees that will adorn the Jefferson City mansion are arriving Monday morning. The outside tree is a 30-foot Norway spruce that came from the yard (More)
Posted 2:58 PM 11/27/2015 by Nick Komisar & Amy Money, KOMU 8 Reporters
COLUMBIA - The moment the MU football team announced on Twitter that it wasn't going to play until former UM Systems President Tim Wolfe resigned, the Concerned Student 1950 movement was thrust into the national spotlight. A photo was tweeted by some members of the team locking arms, with (More)
Posted 1:52 PM 11/27/2015 by The Associated Press
BRANSON (AP) — Authorities say deputies have killed a man who shot his wife and pointed a handgun at the deputies.
KOLR-TV reports that 58-year-old Rick Gullickson was killed early Friday at a home in southern Stone County. The Stone County Sheriff's Department said (More)
Adv. - more news below
Posted 1:18 PM 11/27/2015 by The Associated Press
HANNIBAL (AP) — Mark Twain's 180th birthday is being celebrated this weekend in his boyhood hometown.
The Hannibal Courier-Post reports that a mustache competition and a masquerade mask art show are among the activities planned for Saturday at the Mark Twain Boyhood (More)
Posted 1:14 PM 11/27/2015 by The Associated Press
WEST PLAINS (AP) — A south-central Missouri man has been charged in a deadly crash.
The West Plains Daily Quill reports that 33-year-old Kevin Matthew Stephens, of Pomona, is jailed in Howell County on an involuntary manslaughter charge. No attorney is listed for (More)
Posted 10:29 AM 11/27/2015 by The Associated Press
JEFFERSON CITY (AP) — Local elected officials and state lawmakers are praising Gov. Jay Nixon for calling for settlement money to be spent in areas damaged by lead mining.
Nixon this week directed the state Department of Natural Resources to identify restoration (More)
Posted 10:11 AM 11/27/2015 by Ashton Day, KOMU 8 Digital Producer
JEFFERSON CITY - Despite the rain, Missouri State Parks and the Missouri Department of Natural Resources are encouraging Missourians to spend Black Friday outdoors.
Missouri State Parks is waiving all camping fees the evening of Nov. 27. The campsites will be first come, first (More)
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Posted 8:40 AM 11/27/2015 by The Associated Press
ST. LOUIS (AP) — The $380-million Gateway Arch grounds overhaul in St. Louis has opened its first renovated park.
The Arch and its grounds are undergoing a $380-million renovation, which includes a planned 46,000-square-foot expansion of the visitor center and a redesigned Museum of (More)
Posted 8:36 AM 11/27/2015 by The Associated Press
FESTUS (AP) — Administrators of a thrift store in suburban St. Louis are trying to reunite someone with $1,200 in cash that officials said appears to have been accidentally included in donated items.
As the interim (More)