| The KUIK Market Update for Thursday, October 17: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (67) | points | 15,306 | 7:11 AM | ||
| S&P500 | Down | -0.15% | percent | 1,719 | (2.64) | ||
| Nasdaq Composite | Down | -0.25% | percent | 3,830 | (9.78) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.69 | Annual Yield | ||
| Chinese ratings agency Dagong downgraded its US credit rating today from A to A-, maintaining a negative outlook, despite Washington’s resolution of the debt ceiling deadlock, warning that the fundamentals for a potential default remained “unchanged”. The announcement comes after Congress passed and President Obama signed a bill that extends the nation’s borrowing authority and ends a two-week government shutdown. | |||||||
| The Labor Department reports new applications for unemployment benefits fell by 15,000 to 358,000 last week. Economists expected a drop to 335,000 from 373,000. The report does not include furloughed government employees, who can seek temporary benefits under a separate program. Jobless claims surged to a six-month high two weeks ago because of problems with California’s computer-systems and layoffs at government contractors. | |||||||
| The average rate for the 30-year fixed-rate mortgage rose to 4.28% this week from 4.23% last week according to Freddie Mac. A year ago, the rate was 3.37%. The average rate for the 15-year fixed-rate rose to 3.33% from 3.31% in last week. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.france24.com/en/20131017-chinese-agency-downgrades-us-credit-rating | |||||||
| http://www.marketwatch.com/story/us-jbbless-claims-drop-15000-to-358000-2013-10-17 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-428-2013-10-17-1091019 | |||||||
| For today’s Market Update Report click to listen-> | |||||||