| The KUIK Market Update for Thursday, October 10: | |||||||
| Markets are up strongly. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 211 | points | 15,011 | 7:57 AM | ||
| S&P500 | Up | 1.38% | percent | 1,679 | 22.91 | ||
| Nasdaq Composite | Up | 1.58% | percent | 3,736 | 58.02 | ||
| 30 Year Treasury | Up | 6 | Basis Points | 3.79 | Annual Yield | ||
| Top House Republicans head to the White House today at 8:00 am Pacific time to discuss the issues underlying the standoff that has resulted in the nine-day partial government shutdown and the debt ceiling. The White House said the session isn’t a negotiation, in keeping with Obama’s demand that lawmakers raise the debt ceiling and fully reopen the government without conditions before policy talks are held. But the meeting may allow House Republicans to say they had a policy conversation with the president, which is a condition of resolving the impasse. | |||||||
| The Labor Department reports initial claims for unemployment benefits jumped by 66,000 to a seasonally adjusted 374,000 in the seven days ended Oct. 5, marking the biggest one-week spike since last November. Economists expected a rise to 312,000 from 308,000 the week before. About half of the increase is due to computer problems in California. California’s switchover to a new computer system in early September has resulted in delays in sifting through applications. Some states also reported higher layoffs in private-sector industries such as defense that rely on federal contracts. That accounted for about 15,000 of the new claims. The latest claims report does not include furloughed government employees. They file applications through a separate program and do not show up in the Labor Department’s main claims report. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/white-house-set-to-meet-gop-heads-in-standoff-thaw-2013-10-10 | |||||||
| http://www.marketwatch.com/story/jobless-claims-surge-to-six-month-high-2013-10-10?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||