| The KUIK Market Update for Thursday, February 28: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (16) | points | 14,060 | 7:52 AM | ||
| S&P500 | Up | 0.01% | percent | 1,516 | 0.12 | points | |
| Nasdaq Composite | Up | 0.17% | percent | 3,168 | 5.47 | points | |
| 30 Year Treasury | Down | (2) | Basis Points | 3.09 | Annual Yield | ||
| Low and slow is the way to go. The Commerce Department reports the gross domestic product–the nation’s entire output of goods and services, expanded at just an annual 0.1% pace in the fourth quarter. Initially the government said the economy contracted by 0.1%. | |||||||
| Initials claims for unemployment benefits dropped 22,000 to 344,000 in the week ended Feb. 23, according to the Labor Department. Economists surveyed by MarketWatch had expected 362,000. | |||||||
| Marketwatch reports federal regulators today gave details of a $9.3 billion settlement with 13 banks over foreclosure abuses stemming from robo-signing. The largest banks will pay the most. Bank of America Corp. will provide $1.1 billion into a fund to be used to provide cash payments to troubled borrowers and $1.8 billion in other assistance to homeowners, such as modifications to mortgages or cuts to the amount borrowers owe. Wells Fargo $766 million into the fund and $1.2 billion in other assistance while J.P. Morgan Chase will pay $753 million into the fund and $1.2 billion in other assistance. The cash being paid due by Jan. 7, 2015. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/economy-grew-just-barely-in-fourth-quarter-2013-02-28 | |||||||
| http://www.marketwatch.com/story/jobless-claims-drop-22000-2013-02-28 | |||||||
| http://www.marketwatch.com/story/us-breaks-down-93-bln-in-robo-settlement-fees-2013-02-28 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||