| The KUIK Market Update for Thursday, June 20: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (201) | points | 14,912 | 7:53 AM | ||
| S&P500 | Down | -1.38% | percent | 1,606 | (22.51) | points | |
| Nasdaq Composite | Down | -1.17% | percent | 3,402 | (40.00) | points | |
| 30 Year Treasury | Up | 4 | Basis Points | 3.45 | Annual Yield | ||
| U.S. stocks are down sharply. Asian and European stocks, gold, and bonds fell as well after the Federal Reserve signaled its bond buying could be scaled back later this year. | |||||||
| The Labor Department reported that new claims for unemployment climbed by 18,000 to a seasonally adjusted 354,000 in the week ended June 15. Economists surveyed by MarketWatch expected a rise to 340,000 from a revised 336,000 the week before. | |||||||
| Markit reported the U.S. preliminary manufacturing purchasing managers’ index dropped slightly to 52.2 from 52.3 in May. New orders improved in June, but employment grew at the slowest rate in the recovery. | |||||||
| The Philadelphia Federal Reserve reports manufacturing activity in the Philadelphia region jumped in June to its highest level since April 2011. The bank’s business condition index rose to 12.5 in June from negative 5.2 in May. The size of the jump was unexpected. Economists polled by MarketWatch expected only a negative 1.0. Any number above zero indicates a majority of companies are expanding. The index for new orders rose to 16.6 in June from negative 7.9 in May. Shipments also moved higher. The employment indexes showed modest improvement. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-stocks-fall-sharply-on-fed-tapering-worry-2013-06-20 | |||||||
| http://www.marketwatch.com/story/more-workers-seek-unemployment-benefits-2013-06-20 | |||||||
| http://www.marketwatch.com/story/us-june-flash-factory-pmi-little-changed-2013-06-20 | |||||||
| http://www.marketwatch.com/story/philly-fed-hits-highest-level-since-april-2011-2013-06-20?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||