| The KUIK Morning Market Report for Thursday, May 23: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (107) | points | 15,200 | 6:56 AM | ||
| S&P500 | Down | -1.0% | percent | 1,638 | (16.92) | points | |
| Nasdaq Composite | Down | -1.0% | percent | 3,429 | 33.72 | points | |
| 30 Year Treasury | Down | (3) | Basis Points | 3.18 | Annual Yield | ||
| US stocks are down after Japanese stocks led an Asian selloff on fears the Federa Reserve is tapering off on its bond buying program combined with an unexpected contraction in Chinese manufacturing. The Nikkei Stock Average closed down 7.3% with large volatility and share volume, its worst single-day loss since March 2011. | |||||||
| HSBC said its preliminary Purchasing Managers’ Index for May fell to a seven-month low of 49.6, down from April’s final reading of 50.4. Below 50 signals contraction. | |||||||
| Initial jobless claims dropped by 23,000 to a seasonally adjusted 340,000 in the week ended May 18, accoridng to the Labor Department. Economists polled by MarketWatch expected 343,000 down from a revised 363,000 the week before. | |||||||
| Zillow reports the number of owners who owed more on a home than the property was worth fell to about 13 million in the first quarter from 15.7 million in the 1st quarter of 2012. On a percentage basis, 25.4% of all homeowners with a mortgage had negative equity in the first quarter, down from 31.4%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/stock-futures-slide-rattled-by-fed-china-data-2013-05-23?dist=beforebell | |||||||
| http://www.marketwatch.com/story/china-manufacturing-swings-to-contraction-hsbc-2013-05-22?dist=beforebell | |||||||
| http://www.marketwatch.com/story/jobless-claims-sink-by-23000-to-340000-2013-05-23?dist=beforebell | |||||||
| For today’s Morning Market Report click to listen-> | |||||||