| The KUIK Morning Market Report for Thursday, November 7: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 22 | points | 15,771 | 7:01 AM | ||
| S&P500 | Down | -0.07% | percent | 1,769 | (1.19) | ||
| Nasdaq Composite | Down | -0.35% | percent | 3,918 | (13.68) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.76 | 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. | |||||||
| U.S. stock futures rallied this morning after the European Central Bank surprised many market watchers by lowering interest rates. The euro tumbled against the dollar after the ECB cut rates by quarter of a percentage point to a record low of 0.25%. | |||||||
| 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. | |||||||
| 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/stock-futures-flat-ecb-gdp-and-twitter-on-tap-2013-11-07 | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-drop-9000-to-336000-2013-11-07 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||