| The KUIK Morning Market Report for Thursday, January 17: | |||||||
| Markets opened up this morning. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 41 | points | 13,551 | 6:57 AM | ||
| S&P500 | Up | 0.3% | percent | 1,477 | 4.52 | points | |
| Nasdaq Composite | Up | 0.4% | percent | 3,130 | 1.47 | points | |
| 30 Year Treasury | Up | 4 | Basis Points | 3.06 | Annual Yield | ||
| The Labor Department reports initial applications for unemployment benefits sank by 37,000 to a seasonally adjusted 335,000 in the week ended Jan. 12. Economists expected a drop to 368,000 from last week’s revised 372,000. January claims can be volatile because of holidays and seasonal hiring patterns, and analysts usually discount the report until the end of the month. | |||||||
| The Commerce Department reports construction on new homes jumped in December to the highest rate in more than four years, with gains across the country. In a sign of an improving housing market, starts rose 12.1% in December to a seasonally adjusted annual rate of 954,000 the highest level since June 2008. | |||||||
| Bank of America’s fourth-quarter profit dropped 63% as the bank took billions in charges related to a dispute with Fannie Mae (FNMA) and a foreclosure settlement, while revenue also dropped. In settlements announced last week, Bank of America agreed to pay $11.6 billion to Fannie Mae for buying back loans and $2.5 billion in pretax charges for foreclosure reviews | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/initial-jobless-claims-fall-37000-to-335000-2013-01-17 | |||||||
| http://www.marketwatch.com/story/housing-starts-jump-in-december-2013-01-17 | |||||||
| http://www.marketwatch.com/story/bank-of-america-net-sinks-63-billions-in-charges-2013-01-17 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Morning-Market-Report.mp3 | ||||||