| The KUIK Morning Market Report for Thursday, May 22: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 14 | points | 16,547 | 6:54 AM | ||
| S&P500 | Up | 0.2% | percent | 1,892 | 3.71 | ||
| Nasdaq Composite | Up | 0.4% | percent | 4,149 | 17.39 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.41 | Annual Yield | ||
| The Labor Department reports the number of people who applied for new unemployment benefits climbed by 28,000 to 326,000 in the week ended May 17, wiping out the prior week’s drop. The level of claims is near near a post-recession low, a sign that companies are cutting the fewest workers since the recession ended in mid-2009. Economists expected 315,000 on a seasonally adjusted basis. Continuing claims decreased by 13,000 to a seasonally adjusted 2.65 million in the week ended May 10. | |||||||
| HSBC said the preliminary version of its monthly China Purchasing Managers’ Index rose to a five-month high of 49.7 from a final reading of 48.1 in April. The output subindex hit a four-month high of 50.3 up from 47.9 in April. Above 50 indicates growth. New export orders and overall new orders had gains, though the employment component of the report showed a faster decline. The results sent most major Asia stock indexes sharply higher, as well as giving a boost to the Australian dollar, which is sensitive to the economic outlook of Australia’s top trading partner. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-climb-28000-to-326000-2014-05-22 | |||||||
| http://www.marketwatch.com/story/china-manufacturing-data-blows-past-forecasts-2014-05-22 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||