| The KUIK Market Update for Thursday, November 7: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (21) | points | 15,724 | 7:57 AM | ||
| S&P500 | Down | -0.45% | percent | 1,763 | (7.89) | ||
| Nasdaq Composite | Down | -1.01% | percent | 3,892 | (39.88) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.75 | Annual Yield | ||
| The Commerce Department reports goss domestic product rose at an annual rate of 2.8% in the third quarter, up from 2.5% in the second quarter. Economists expected a 2.3% increase. However the pickup was helped by a buildup in business inventories that could decline in the final months of the year. Growth is forecast to be around 2% in the fourth quarter, held down in part by October’s government shutdown. | |||||||
| The Labor Department reported new applications for unemployment benefits fell by 9,000 to 336,000 in the week ended Nov. 2. Economists surveyed by MarketWatch expected 335,000 on a seasonally adjusted basis. Initial claims from two weeks ago were revised up to 345,000 from an initial 340,000, based on more complete state data. Processing problems in California reportedly have been cleared up and did not affect the claims report. | |||||||
| The average rate for the 30-year fixed-rate mortgage rose to 4.16% in the week that ended Nov. 7 from 4.10% in the week before, according to Freddie Mac. A year earlier, the rate was 3.40%. Meanwhile, the 15-year fixed-rate mortgage rose to 3.27% in the latest week from 3.20% the week before. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-economy-grew-28-in-third-quarter-2013-11-07 | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-drop-9000-to-336000-2013-11-07 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-416-2013-11-07-109134 | |||||||
| For today’s Market Update Report click to listen-> | |||||||