Market Report: Stocks Rise and Housing Declines

6 years 6 months 3 days 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
COLUMBIA – Columbia hosted its first affordable housing summit Thursday night. The summit offered residents a chance to learn... More >>
6 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 8:27:00 PM CST February 27, 2020 in News
COLUMBIA - For the last month, Stephens College has been collecting items for Rainbow House in Columbia, and they'll finally... More >>
8 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 5:56:00 PM CST February 27, 2020 in News
COLUMBIA - Columbia Police responded to a report of a strong-arm robbery that occurred in the parking lot at Sam's... More >>
9 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 5:14:00 PM CST February 27, 2020 in News
JEFFERSON CITY - The opioid crisis throughout the United States can not be solved overnight. However, Missouri lawmakers are taking... More >>
10 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 4:33:00 PM CST February 27, 2020 in News
WASHINGTON D.C. - The U.S. House of Representatives has just approved a bill that would expand opportunities for veterans to... More >>
10 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 4:24:00 PM CST February 27, 2020 in A Brighter Tomorrow
RUSSELLVILLE - The Cole County Prosecutor and Cole County Sheriff's Office announced on Thursday the name of the man charged... More >>
11 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 3:24:00 PM CST February 27, 2020 in News
(CNN) -- Children's lives may not be as hard as adults' lives, but sometimes their moodiness and sadness are more... More >>
12 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 2:34:08 PM CST February 27, 2020 in A Brighter Tomorrow
COLUMBIA – Business owners say fears stemming from misinformation about the coronavirus are causing their business to unfairly take a... More >>
13 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 1:33:00 PM CST February 27, 2020 in News
RUSSELLVILLE - The Cole County Prosecutor and Cole County Sheriff will hold a press conference Thursday afternoon with a break... More >>
13 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 1:01:00 PM CST February 27, 2020 in News
SEDALIA - Prosecutors have filed charges against two men in connection with a February 22 shooting that left one man... More >>
16 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 10:29:00 AM CST February 27, 2020 in News
LAKE OF THE OZARKS - The Missouri State Highway Patrol is asking for assistance in an ongoing sexual assault investigation.... More >>
16 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 9:52:00 AM CST February 27, 2020 in News
MARYLAND HEIGHTS, Mo. (AP) — Authorities say a part-time janitor has been charged with first-degree murder after shooting and killing... More >>
20 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 6:13:00 AM CST February 27, 2020 in News
COLUMBIA - Columbia is a college town full of apartments and townhouses, but it wants to start giving low-income families... More >>
21 hours ago Thursday, February 27 2020 Feb 27, 2020 Thursday, February 27, 2020 5:30:00 AM CST February 27, 2020 in News
(CNN) -- The Centers for Disease Control and Prevention announced an investigation into a multi-state E. coli outbreak they believe... More >>
1 day ago Wednesday, February 26 2020 Feb 26, 2020 Wednesday, February 26, 2020 10:51:00 PM CST February 26, 2020 in News
KANSAS CITY, Mo. (AP) — An FBI agent shot someone inside a central Kansas City apartment building Wednesday but few... More >>
1 day ago Wednesday, February 26 2020 Feb 26, 2020 Wednesday, February 26, 2020 10:41:00 PM CST February 26, 2020 in News
JEFFERSON CITY- State lawmakers are considering multiple bills that would legalize sports betting in the State of Missouri. Americans... More >>
1 day ago Wednesday, February 26 2020 Feb 26, 2020 Wednesday, February 26, 2020 8:10:00 PM CST February 26, 2020 in News
JEFFERSON CITY - This week state lawmakers are focusing and fighting on bills about the inclusion of the LGTBQ community.... More >>
1 day ago Wednesday, February 26 2020 Feb 26, 2020 Wednesday, February 26, 2020 7:53:00 PM CST February 26, 2020 in News
ROCHEPORT - Missouri State Highway Patrol responded to a crash Wednesday morning on the Missouri River Bridge near Rocheport. ... More >>
1 day ago Wednesday, February 26 2020 Feb 26, 2020 Wednesday, February 26, 2020 6:34:00 PM CST February 26, 2020 in News
Columbia, MO
Broken Clouds 30°
3am 28°
4am 27°
5am 27°
6am 28°