| The KUIK Market Update for Thursday, May 28: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (81) | points | 18,082 | 7:52 AM | ||
| S&P500 | Down | -0.4% | percent | 2,115 | (8.71) | ||
| Nasdaq Composite | Down | -0.3% | percent | 5,090 | (16.79) | ||
| 30 Year Treasury | Unchanged | – | Basis Points | 2.88 | Annual Yield | ||
| The Labor Department reports that initial claims for unemployment benefits in the week ended May 23 rose by 7,000 to a seasonally adjusted 282,000. That’s the highest level in five weeks, but still near a 15-year low. Continuing claims rose by 11,000 to 2.2 million. | |||||||
| Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.87% for the week ending May 28, up from last week’s 3.84%. A year ago it averaged 4.12%. The 15-year fixed week averaged 3.11%, up from last week’s 3.05%. A year ago it averaged 3.21%. | |||||||
| Chip maker Avago Technologies agreed to buy Broadcom for $17 billion in cash and $20 billion of its stoock, the latest in a wave of deals for the companies that supply parts for smartphones and tablets. Avago is the former semiconductor unit of Hewlett-Packard. It makes chips for wireless-communications and corporate-data-storage markets. Based in San Jose, Calif., and Singapore, it reported $4.3 billion in sales in the 12 months ended Nov. 2. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/layoffs-are-rare-jobless-claims-data-suggest-2015-05-28 | |||||||
| http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-reach-2015-high-otcqb-fmcc-1197665 | |||||||
| http://www.marketwatch.com/story/avago-to-buy-broadcom-for-37-billion-2015-05-28?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||