Morning Market Report 8/7/2014 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, August 7:
Markets are up.
Index	Direction	Change	Units	Time	Change
Dow	Up	49	points	16,492	7:02 AM
S&P500	Up	0.3%	percent	1,926	5.56
Nasdaq Composite	Up	0.4%	percent	4,372	17.38
30 Year Treasury	Down	(1)	Basis Points	3.27	Annual Yield
The Labor Department reports that initial claims for unemployment benefits fell by Initial jobless claims fell by 14,000 to 289,000 in the week ended August 2. Continuing claims fell 24,000 to a seasonally adjusted 2.52 million in the week ended July 26.
Russia has retaliated over sanctions. It has banned a wide range of food imports from Europe, Canada, Australia and the US including fruit, vegetables, meat, and dairy products. The ban will have a limited impact on most of Russia’s population, which relies mainly on domestic foods and imports from other former Soviet countries. The ban will hit farmers in Eastern Europe, but will have little impact on the EU’s economy.
Dennis Lockhart, the president of the Atlanta Fed said yesterday that he thinks the economy has the capacity to achieve a 3% growth rate. In an interview on CNBC he said he does not think it is structurally slower than it has been in the past and he sees the first increase in interest rates sometime after mid-2015.
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-below-300000-again-2014-08-07
http://www.marketwatch.com/story/russia-retaliates-with-bans-on-food-imports-from-eu-us-2014-08-07
http://www.marketwatch.com/story/feds-lockhart-economy-isnt-structurally-slower-2014-08-06
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