| The KUIK Market Update for Thursday, October 2: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (60) | points | 16,744 | 8:18 AM | ||
| S&P500 | Down | -0.5% | percent | 1,937 | (8.91) | ||
| Nasdaq Composite | Down | -0.5% | percent | 4,400 | (22.01) | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.13 | Annual Yield | ||
| The Labor Department reports the number of people applying for new unemployment benefits fell by 8,000 to 287,000 in the week ended September 27. Initial jobless claims have been below the key 300,000 mark for three straight weeks. Economists polled by MarketWatch expected a rise to a seasonally adjusted 298,000. Continuing claims decreased by 45,000 to a seasonally adjusted 2.39 million in the week ended Sept 20, smallest number since June 2006. | |||||||
| The Los Angeles Times reports federal bankruptcy law supersedes a California law requiring cities to fund employee pensions, U.S. Bankruptcy Judge Christopher Klein ruled yesterday. Klein found that Stockton, which filed for bankruptcy in 2012, could adjust pension payments to the giant CalPERS pension fund. | |||||||
| Crude Oil is down on news that Saudi Arabia cut its selling price, spooking the energy markets. Saudi Aramco, Saudi Arabia’s national petroleum company, yesterday cut its official selling price for crude oil to the U.S., Europe and Asia, with the largest cuts in Asia where oil producers are competing for market share. November crude is off 1.3%, to $89.56, On the New York Merc. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/initial-us-jobless-claims-drop-8000-to-287000-2014-10-02 | |||||||
| http://www.marketwatch.com/story/bankrupt-stockton-can-restructure-calpers-pension-payments-judge-rules-reports-2014-10-01?dist=lcountdown | |||||||
| http://www.marketwatch.com/column/futures-movers | |||||||
| For today’s Market Update Report click to listen-> | |||||||