Morning Market Report 9/26/2013 – Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, September 26:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	81	points	15,356	7:00 AM
S&P500	Up	0.52%	percent	1,702		8.83
Nasdaq Composite	Up	0.76%	percent	3,790		28.50
30 Year Treasury	Up	4	Basis Points	3.69	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 assuming that California would catch up on processing its backlog. In early September, the number of people applying for unemployment benefits fell below 300,000 for the first time since mid-2007. The surprise drop mainly stemmed from computer glitches in California that delayed the processing of some claims. 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 its backlog has been all cleared up, though it may take several weeks to know for sure.

The U.S. economy grew 2.5% in the second quarter, according to the government’s third and final review of gross domestic product. Economists expected GDP to be revised up to 2.7%. Consumer spending was unchanged at 1.8%. U.S. growth is projected to slow to a rate of 1.9% in the third quarter, according to the latest MarketWatch poll of economists





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/us-gdp-growth-in-2nd-quarter-unchanged-at-25-2013-09-26



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