| The KUIK Market Update for Thursday, October 24: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 73 | points | 15,487 | 8:07 AM | ||
| S&P500 | Up | 0.20% | percent | 1,750 | 3.44 | ||
| Nasdaq Composite | Up | 0.36% | percent | 3,921 | 14.21 | ||
| 30 Year Treasury | Up | 1 | Basis Points | 3.60 | Annual Yield | ||
| The Labor Department reported Initial claims for unemployment benefits fell by 12,000 to 350,000 in the week ended Oct. 19. Economists expected claims to fall to a seasonally adjusted 337,000. Applications fell for the third straight week, but the level of initial claims remained elevated because of ongoing computer problems in California that are keeping many applications from being processed on time. | |||||||
| The Wall Street Journal reports a jury yesterday found Bank of America liable for fraud related to loans its Countrywide Financial unit sold to Fannie Mae and Freddie Mac in a program called the “Hustle” in 2007 and 2008. The program lasted several months and ended before the BofA bought Countrywide in 2008. The decision in this civil case marks the first time a bank has been found liable for fraud for its dealings during the mortgage boom. Bank of America is the second-largest U.S. bank by assets. | |||||||
| Marketwatch reports the Obama administration will delay enforcement of the Affordable Care Act’s health insurance individual mandate, extending how long Americans may go uninsured before facing a penalty under the law. The action would move the date that individuals would be required to have insurance from January 1 to March 31, 2014 | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-drop-12000-to-350000-2013-10-24-9103733 | |||||||
| http://online.wsj.com/news/articles/SB10001424052702303615304579153900661389242?mod=mktw | |||||||
| http://www.marketwatch.com/story/obamacare-mandate-may-be-delayed-2013-10-23?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||