| The KUIK Market Update for Thursday, May 7: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 33 | points | 17,876 | 8:12 AM | ||
| S&P500 | Up | 0.2% | percent | 2,084 | 3.92 | ||
| Nasdaq Composite | Up | 0.3% | percent | 4,933 | 13.60 | ||
| 30 Year Treasury | Down | (6) | Basis Points | 2.93 | Annual Yield | ||
| The number of new applications for unemployment benefits remains near a 15-year low, rising only 3,000 to 265,000 in the week ended May 2. Economists expected a seasonally adjusted 277,000 from 262,000 the week before. Continuing claims fell by 28,000 to 2.23 million to the lowest level since November 2000. | |||||||
| In a recent survey, Visa reports restaurant spending in April rose 9.5% from a year ago, and hotel spending increased 9.4%. Spending on household goods increased 5.1%, home improvement grew 4.8%, and clothing just 0.1%. With oil prices falling 30% over the last year, Visa said the average household savings was $50 to $75. 52% of those surveyed said they planned to save the money, while 24% will use it to pay down debt. Only 30% plan to spend the savings. | |||||||
| Freddie Mac reports the 30 fixed rate mortgage averaged 3.8% in the week ended May 7, up from 3.68% last week. A year ago it was 4.21%. The 15 year fixed averaged 3.02%, up from 2.94% last week. A year ago it was 3.32%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-rise-to-265000-but-still-near-15-year-low-2015-05-07 | |||||||
| http://www.marketwatch.com/story/americans-are-reluctant-to-spend-the-money-theyve-saved-on-gas-visa-survey-shows-2015-05-07 | |||||||
| http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-move-higher-otcqb-fmcc-1193376 | |||||||
| For today’s Market Update Report click to listen-> | |||||||