| The KUIK Market Update for Thursday, May 8: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 65 | points | 16,584 | 7:57 AM | ||
| S&P500 | Up | 0.4% | percent | 1,885 | 7.28 | ||
| Nasdaq Composite | Up | 0.7% | percent | 4,097 | 29.61 | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.39 | Annual Yield | ||
| The Labor Department reports the number of people who applied for unemployment benefits last week fell by 26,000 to 319,000 for the lowest level in a month. Economists expected a seasonally adjusted 325,000. However claims often see-saw in April because of Easter and spring break. The average of new claims over the past month rose by 4,500 to almost 325,000. | |||||||
| Freddie Mac reports the average rate for a 30-year fixed-rate mortgage dropped to 4.21% in the week ended May 8 from 4.29% last week. This is the the lowest rate since November. A year ago, the 30-year was at 3.42%. The average rate for the 15-year fixed fell to 3.32%from 3.38%. | |||||||
| Treasury Secretary Jacob Lew will head to China next week for talks with senior Chinese government officials about bilateral and global economic issues. Lew is making a quick trip, holding the talks only on one day. He will discuss progress on China’s reform agenda, efforts to level the playing field for U.S. workers and firms, and preparations for the upcoming U.S.-China Strategic and Economic Dialogue. Lew has expressed concern about fall of China’s yuan against the dollar since the start of the year. | |||||||
| 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-26000-to-319000-2014-05-08 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-drops-to-421-2014-05-08-109106 | |||||||
| http://www.marketwatch.com/story/lew-to-travel-to-china-for-economic-talks-2014-05-08 | |||||||
| For today’s Market Update Report click to listen-> | |||||||