| The KUIK Morning Market Report for Thursday, January 29: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 23 | points | 17,214 | 7:11 AM | ||
| S&P500 | Down | -0.2% | percent | 1,999 | (3.02) | ||
| Nasdaq Composite | Down | -0.3% | percent | 4,623 | (15.22) | ||
| 30 Year Treasury | Up | 2 | Basis Points | 2.32 | Annual Yield | ||
| The Labor Department reports initial claims for unemployment benefits fell to 265,000 in the week ended January 24 down from a revised 308,000. That was the biggest drop since November 2012 and larger than the 296,000 expected by economists. It was also the lowest number since April 2000. Continuing claims fell by 71,000 to 2.39 million in the week ended January 17. | |||||||
| The Hill reports President Obama will tell House Democrats on Thursday that his proposed budget will “fully reverse” the automatic spending cuts to the domestic budget and offer a similar increase in Pentagon spending. Obama will propose infrastructure, health and manufacturing programs that will be “fully paid for with cuts to inefficient spending programs and closing tax loopholes,” a White House official told the Hill. Obama will also ratchet up pressure on Republicans to pass a “clean” bill funding the Department of Homeland Security through the remainder of the fiscal year. He will release his proposed fiscal 2016 budget on Monday. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-drop-to-14-year-low-2015-01-29 | |||||||
| http://www.marketwatch.com/story/obama-to-call-for-reversal-of-sequester-cuts-2015-01-29 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||