| The KUIK Morning Market Report for Thursday, July 23: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (52) | points | 17,804 | 6:52 AM | ||
| S&P500 | Down | -0.1% | percent | 2,112 | (1.92) | ||
| Nasdaq Composite | Up | 0.1% | percent | 5,177 | 5.05 | ||
| 30 Year Treasury | Unchanged | – | Basis Points | 3.04 | Annual Yield | ||
| New applications for unemployment benefits declined by 26,000 to 255,000 in the week ended July 18. That’s the lowest level since 1973 and under the key 300,000 level since late February, the longest run in 15 years. Continuing claims felld by 9,000 to 2.2 million in the week ended July 11. | |||||||
| Qualcomm announced yesterday that it would consider changes to its corporate structure and cut $1.4 billion in spending. Moving to fix problems that caused 47% drop in its fiscal third-quarter profit. The company will review seperating businesses and will cut 15% of its full-time headcount and significantly reduce its temporary workforce. It also plans to cut $300 million in annual share-based compensation grants. | |||||||
| The Social Security disability-insurance program will be able to pay only 81% of benefits starting in late 2016 unless Congress acts to replenish the fund, according to its annual report. In the past, Congress has diverted tax revenue from Social Security’s main retirement program to allocate more revenue to disability benefits. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-plunge-to-lowest-level-since-1973-2015-07-23 | |||||||
| http://www.marketwatch.com/story/qualcomm-to-cut-15-of-workforce-2015-07-22 | |||||||
| http://www.marketwatch.com/story/social-security-disability-insurance-program-faces-2016-financing-shortfall-2015-07-22 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||