Market Report: Stocks Rise and Housing Declines

4 years 1 month 3 weeks ago Sunday, August 25 2013 Aug 25, 2013 Sunday, August 25, 2013 2:45:00 PM CDT August 25, 2013 in News
By: William Joy, KOMU 8 Reporter
loading

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.

 

More News

Grid
List
TONGANOXIE, Kan. (AP) — Authorities have arrested a man and found three sisters whose disappearance in August from their Kansas... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 10:09:53 AM CDT October 17, 2017 in News
ST. LOUIS (AP) — A man has been charged with shooting a St. Louis police detective in the shoulder last... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 10:02:35 AM CDT October 17, 2017 in News
SPRINGFIELD (AP) — Authorities say deputies have shot and wounded a man after he pointed a gun at them in... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 9:55:26 AM CDT October 17, 2017 in News
COLUMBIA (AP) — The University of Missouri is hiring the top Missouri state senator's chief of staff to be the... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 9:50:49 AM CDT October 17, 2017 in News
JEFFERSON CITY, Mo. (AP) — The Missouri House Ethics Committee is reviewing a complaint against a lawmaker who called for... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 9:44:07 AM CDT October 17, 2017 in News
JEFFERSON CITY (AP) — Missouri Gov. Eric Greitens is headed to the United Kingdom and Switzerland on his second trade... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 9:36:53 AM CDT October 17, 2017 in News
CARUTHERSVILLE (AP) — Authorities are searching for two inmates who escaped Sunday from the Pemiscot County jail. The St.... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 9:31:27 AM CDT October 17, 2017 in News
O'FALLON (AP) — Authorities say a school bus and car have collided in suburban St. Louis, sending five students and... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 9:23:00 AM CDT October 17, 2017 in News
KANSAS CITY (AP) — Police records show there has been an unprecedented spike in gun thefts in Kansas City, Missouri.... More >>
2 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 9:17:12 AM CDT October 17, 2017 in News
COLUMBIA - The Boone County Sherrif's Department will conduct DWI saturation patrols from October 16 to October 23. Deputies... More >>
5 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 7:00:00 AM CDT October 17, 2017 in News
JEFFERSON CITY - Jefferson City inspectors have issued more than 3,000 property violations so far in 2017, and a new... More >>
8 hours ago Tuesday, October 17 2017 Oct 17, 2017 Tuesday, October 17, 2017 3:31:00 AM CDT October 17, 2017 in News
COLUMBIA- A semi truck crashed over a guard rail on U-63 by E. Friendship Church Rd. late Monday night. ... More >>
12 hours ago Monday, October 16 2017 Oct 16, 2017 Monday, October 16, 2017 11:57:00 PM CDT October 16, 2017 in News
COLUMBIA - A crash on Highway 63 South left two drivers in the hospital Monday night. The crash happened... More >>
12 hours ago Monday, October 16 2017 Oct 16, 2017 Monday, October 16, 2017 11:50:00 PM CDT October 16, 2017 in News
COLUMBIA – City council members approved the construction of two new roundabouts near Mill Creek Elementary School following a public... More >>
15 hours ago Monday, October 16 2017 Oct 16, 2017 Monday, October 16, 2017 8:20:00 PM CDT October 16, 2017 in News
COLUMBIA - An unnamed organization reported to the Better Business Bureau that it lost more than $3,000 from a phishing... More >>
15 hours ago Monday, October 16 2017 Oct 16, 2017 Monday, October 16, 2017 8:16:00 PM CDT October 16, 2017 in News
JEFFERSON CITY - The Missouri Department of Transportation and Missouri Coalition for Roadway Safety are challenging drivers this week to... More >>
16 hours ago Monday, October 16 2017 Oct 16, 2017 Monday, October 16, 2017 8:00:00 PM CDT October 16, 2017 in News
JEFFERSON CITY (AP) — Missouri's U.S. senators are pitching the Kansas City and St. Louis metropolitan areas as potential sites... More >>
16 hours ago Monday, October 16 2017 Oct 16, 2017 Monday, October 16, 2017 7:32:00 PM CDT October 16, 2017 in News
COLUMBIA - Race Matters, Friends is currently seeking out volunteers to sit in on, take notes on and observe court... More >>
16 hours ago Monday, October 16 2017 Oct 16, 2017 Monday, October 16, 2017 7:27:00 PM CDT October 16, 2017 in News
Columbia, MO
Broken Clouds 64°
1pm 68°
2pm 70°
3pm 70°
4pm 70°

Select a station to view its upcoming schedule:

Coming Up Next

12:00p
KOMU 8 News @ Noon
12:30p
Inside Edition
1:00p
Days of Our Lives
12:00p
Jerry Springer
1:00p
Maury
2:00p
Maury

Tonight's Schedule

7:00p
The Voice
8:00p
This Is Us
9:01p
Law & Order True Crime: The Menendez Murders
7:00p
The Flash
8:00p
DC's Legends of Tomorrow
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld