| The KUIK Morning Market Report for Thursday, October 23: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 196 | points | 16,657 | 6:57 AM | ||
| S&P500 | Up | 1.0% | percent | 1,945 | 18.22 | ||
| Nasdaq Composite | Up | 1.1% | percent | 4,429 | 46.25 | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.03 | 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. | |||||||
| According to RealtyTrac, 15% of all U.S. properties that is 8.1 million homes with a mortgage are seriously underwater, where owner owes at least 25% more than the market value of the property. That’s down from 17% of mortgaged properties in the second quarter of this year and the lowest rate since the company began tracking negative equity in the first quarter of 2012. The highest percentage of homes that are seriously underwater were those bought during the housing bubble in 2006 (40% of homes bought then areunderwater), and 2007 (35%). The bad news is that the rate of decline in negative equity is slowing as home price appreciation is slowing, and the negative equity is more of a problem for low priced homes. | |||||||
| 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/15-of-homes-still-seriously-underwater-2014-10-23 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||