| The KUIK Morning Market Report for Wednesday, December 24: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 36 | points | 18,060 | 7:09 AM | ||
| S&P500 | Up | 0.1% | percent | 2,084 | 2.09 | ||
| Nasdaq Composite | Up | 0.2% | percent | 4,776 | 10.49 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 2.87 | Annual Yield | ||
| The Labor Department reports new claims for unemployment benefits fell by 9,000 to 280,000 in the week that ended December 20, only slightly above the 14-year low of 266,000 hit in October and below economists’ expectations of 290,00. Continuing claims rose by 25,000 to 2.4 million in the week that ended December 13. | |||||||
| Bloomberg reports offshore oil-drilling contractors, who last year were able to charge record rates for their vessels, are now under pressure to scrap old rigs The five-year low in oil prices is threatening an industry already dealing with a bunch of new vessels and weakening demand. More than 200 new rigs are scheduled to be delivered in the next six years. That’s a 25 percent jump from the number currently under contract. About 140 old rigs would need to be scrapped to make way for the new vessels scheduled for delivery by 2020. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-fall-to-seven-week-low-2014-12-24 | |||||||
| http://www.bloomberg.com/news/2014-12-23/oil-drillers-under-pressure-to-scrap-rigs-to-cope-with-downturn.html | |||||||
| For today’s Morning Market Report click to listen-> | |||||||