| The KUIK Morning Market Report for Thursday, June 5: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 21 | points | 16,759 | 7:03 AM | ||
| S&P500 | Up | 0.0% | percent | 1,928 | 0.23 | ||
| Nasdaq Composite | Up | 0.1% | percent | 4,257 | 4.88 | ||
| 30 Year Treasury | Up | 1 | Basis Points | 3.46 | Annual Yield | ||
| The European Central bank cut its main lending rate to 0.15%, a new low, down from the 0.25% held since November, and lowered its rate on emergency overnight loans by 35 basis points to 0.40%. The ECB also dropped the rate on bank deposits parked overnight with the central bank to minus 0.1%,charging commercial banks for keeping their money at the ECB. That rate had been at zero for nearly two years. The rate cuts were expected by economists. A negative deposit rate could spur banks to lend some of their excess cash to other banks and ultimately find its way to the euro-zone economy, which relies more on bank lending than the stock market to fund investment and hiring. | |||||||
| Initial jobless claims climbed by 8,000 to 312,000 in the week ended May 31, according to the Labor Department . Economists expected a seasonally adjusted 311,000. Continuing claims fell by 20,000 to 2.60 million in the week ended May 24. That’s the fewest since October 2007. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/ecb-cuts-rates-installs-negative-deposit-rate-2014-06-05-7485590 | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-rise-8000-to-312000-2014-06-05-8913030 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||