Morning Market Report 10/31/2013

The KUIK Morning Market Report for Thursday, October 31:
Markets are down.
Index Direction Change Units Last Time Change
Dow Down                    (39) points           15,580 6:57 AM
S&P500 Down -0.24% percent             1,759            (4.25)
Nasdaq Composite Down -0.38% percent             3,916           (14.90)
30 Year Treasury Down                      (0) Basis Points               3.63 Annual Yield
The Labor Department reports initial claims for unemployment benefits fell  by 10,000 to a seasonally adjusted 340,000 in the week ended Oct. 26.  Economists polled by MarketWatch expected a rop to 337,000 from an unrevised 350,000 the week before.  Claims are eleveated because computer problems in California suspended thousands of applications over the past two months. 
The Chicago purchasing managers index unexpected rose to 65.9% in October, to mark the best performance since March 2011.  Economists expected a drop to 54.5% from 55.7% in September. A reading above 50 indicates expansion. The details were also strong. The production, new orders and order backlog indexes posted double-digit gains. Companies were unaffected by the government shutdown, according to the release. The gain in the index is the biggest in 30 years.
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-10000-to-340000-2013-10-31-81035726
http://www.marketwatch.com/story/chicago-pmi-jumps-to-659-in-october-2013-10-31
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