| The KUIK Market Update for Thursday, September 26: | |||||||
| Markets are up but down from their highs. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 25 | points | 15,299 | 8:02 AM | ||
| S&P500 | Up | 0.14% | percent | 1,695 | 2.29 | ||
| Nasdaq Composite | Up | 0.43% | percent | 3,777 | 16.18 | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.68 | Annual Yield | ||
| The Labor Department reports initial claims for unemploymnet dropped by 5,000 to a seasonally adjusted 305,000 in the week ended Sept. 21. Economists expected a rise to 327,000. In early September, the number of people applying for unemployment benefits fell below 300,000 for the first time since mid-2007. The drop is due to computer problems in California that delayed claims processing. Because of the backlog, this week the governor of California ordered the state to pay benefits to applicants even before it was determined if they were eligible. The state told the Labor Department that it hs cleared the backlog. | |||||||
| Sales contracts on existing homes fell 1.6% in August — a third month of declines — led by drops in three of four U.S. regions, according to the National Association of Realtors. The drop is due to higher interest rates and prices. Despite the drop, the pending-home sales gauge in August was up 5.8% from August of 2012. Pending home sales in August fell 3.5% in the South, 1.6% in the West and 1.4% in the Midwest, but rose 4% in the Northeast. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-fall-by-5000-to-305000-2013-09-26-81035554 | |||||||
| http://www.marketwatch.com/story/pending-home-sales-fall-16-in-august-2013-09-26-1091014?dist=lcountdown | |||||||
| For today’s Morning Market Report click to listen-> | |||||||