Market Update Report 1/16/2014

The KUIK Market Update for Thursday, January 16:
Markets are down.
Index Direction Change Units Last Time Change
Dow Down                    (76) points           16,403 7:51 AM
S&P500 Down -0.33% percent             1,842            (6.12)
Nasdaq Composite Down -0.10% percent             4,211            (4.27)
30 Year Treasury Down                      (2) Basis Points               3.78 Annual Yield
The Labor Department reports initial jobless claims dipped by 2,000 to 326,000 in the week ended Jan. 11 for the smallest number in six weeks.  Economists expected a seasonally adjusted 330,000.  Ccontinuing claims, those already receiving benefits rose by 174,000 to a seasonally adjusted 3.03 million in the week ended Jan 4.
The Philadelphia Fed’s manufacturing index edged up to a reading of 9.4 in January from a downwardly revised 6.4 reading in December. Economists expected of 8.9. The index has positive for eight straight months. The new-orders component fell,  while shipments rose slightly. Inventories took deep dive to negative 19.6 from positive 16 in December. 
The average rate for a 30-year fixed-rate mortgage fell to 4.41% in the week that ended Jan. 16, hitting the lowest level since late November, down from 4.51% the week before, according to Freddie Mac. A year ago, the 30-year rate was at 3.38%. The average rate for the 15-year fixed fell to 3.45% from 3.56%. 
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/us-jobless-claims-fall-to-six-week-low-2014-01-16
http://www.marketwatch.com/story/philly-fed-manufacturing-index-picks-up-in-january-2014-01-16
http://www.marketwatch.com/story/30-year-mortgage-rate-drops-to-441-2014-01-16-109105
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