| The KUIK Market Update for Thursday, October 23: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 256 | points | 16,717 | 8:07 AM | ||
| S&P500 | Up | 1.5% | percent | 1,955 | 28.18 | ||
| Nasdaq Composite | Up | 1.7% | percent | 4,458 | 75.06 | ||
| 30 Year Treasury | Up | 4 | Basis Points | 3.04 | Annual Yield | ||
| The Labor Department reports the number of new applications for unemployment benefits rose by 17,000 last week to 283,000. Economists expected 285,000. New claims have been below 300,000 for six straight weeks, the first time that’s happened since 2006. Continuing claimsfell by 38,000 to a seasonally adjusted 2.35 million in the week ended October 11. | |||||||
| The average rate for a 30-year fixed-rate mortgage fell to 3.92% in the week that ended October 23, hitting the lowest level since early June 2013, down from 3.97% last week according to Freddie Mac. A year ago it was 4.13%. The average rate for the 15-year fixed fell to 3.08% down from 3.18%. | |||||||
| The Conference Board’s leading economic index rose 0.8% in September, picking up after no change in August. In a statement, it said “The outlook for improving employment and further income growth are expected to support the moderate expansion in the U.S economy for the remainder of the year.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-stay-below-300000-for-sixth-week-2014-10-23 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-falls-to-392-2014-10-23-109104 | |||||||
| http://www.marketwatch.com/story/leading-indicators-climb-08-in-september-2014-10-23 | |||||||
| For today’s Market Update Report click to listen-> | |||||||