| The KUIK Market Update for Thursday, May 15: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (133) | points | 16,481 | 7:47 AM | ||
| S&P500 | Down | -0.9% | percent | 1,871 | (17.14) | ||
| Nasdaq Composite | Down | -1.0% | percent | 4,061 | (39.91) | ||
| 30 Year Treasury | Down | (5) | Basis Points | 3.33 | Annual Yield | ||
| Initial jobless claims declined by 24,000 to a seasonally adjusted 297,000 in the week ended May 10, according to the Labor Department. Economists expected 321,000. That was the second straight week of decline, touching the lowest level since May 2007, but may have been affected by the Easter Holiday. | |||||||
| Proposed legislation that would wind down federally controlled mortgage giants Fannie Mae and Freddie Mac does not have enough support in Congress will just be a “first step” in Congress’s work on housing-finance reform, the chief of the Senate Committee on Banking, Housing, and Urban Affairs said today. “This is not the final product,” said Sen. Tim Johnson, Democrat from South Dakota. The committe will work to improve the bill and attract additional support. The bill likely has enough votes to pass in committee, but too for the entire Senate to consider the legislation. | |||||||
| Home builders are the most pessimistic they’ve been in a year, with makers of new single-family homes reporting fewer sales. The housing-market index for builder confidence declined to 45 this month — the lowest reading since May 2013 — from 46 in April, according to the National Association of Home Builders. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-fall-to-lowest-level-since-2007-2014-05-15 | |||||||
| http://www.marketwatch.com/story/housing-reform-bill-has-insufficient-support-senate-panel-chief-2014-05-15?link=MW_Nav_EP | |||||||
| http://www.marketwatch.com/story/home-builders-most-pessimistic-in-a-year-2014-05-15 | |||||||
| For today’s Market Update Report click to listen-> | |||||||