| The KUIK Market Update for Thursday, February 7: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (97) | points | 13,889 | 8:10 AM | ||
| S&P500 | Down | -0.61% | percent | 1,503 | (9.26) | points | |
| Nasdaq Composite | Down | -0.73% | percent | 3,145 | (23.05) | points | |
| 30 Year Treasury | Down | (1) | Basis Points | 3.17 | Annual Yield | ||
| The number of Americans losing their jobs every week has remained steady over the past six months. Initial jobless claims fell by 5,000 to a seasonally adjusted 366,000 in the week ended Feb. 2, according to the Labor Department. Economists surveyed by MarketWatch forecast a drop to 360,000. Claims from two weeks ago were revised up to 371,000 from an initial reading of 368,000. | |||||||
| The Labor Department also reported that productivity fell at a 2.0% annual rate in the October-to-December period, according to the agency’s preliminary assessment. The decline is the sharpest in almost two years and partly reverses a revised 3.2% gain in the third quarter. | |||||||
| Bloomberg reports European Central Bank President Mario Draghi signaled policy makers are concerned that the euro’s strength will hamper their efforts to pull the economy out of recession. “The exchange rate is not a policy target, but it is important for growth and price stability,” Draghi said at a press conference in Frankfurt today after the ECB kept its benchmark rate at a record low of 0.75 percent. “We want to see if the appreciation is sustained, and if it alters our assessment of the risks to price stability.” The comments pushed the currency down more than a cent against the dollar. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-edge-down-to-366000-2013-02-07 | |||||||
| http://www.marketwatch.com/story/us-productivity-sinks-2-in-fourth-quarter-2013-02-07 | |||||||
| http://www.bloomberg.com/news/2013-02-07/draghi-says-low-rates-should-fuel-economic-recovery-this-year.html | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||