| The KUIK Market Update for Thursday, September 24: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (258) | points | 16,022 | 7:46 AM | ||
| S&P500 | Down | -1.4% | percent | 1,911 | (27.61) | ||
| Nasdaq Composite | Down | -1.6% | percent | 4,676 | (76.80) | ||
| 30 Year Treasury | Down | (6) | Basis Points | 2.88 | Annual Yield | ||
| New applications for unemployment benefits increasedby 3,000 to 267,000 in the week ended September 19 according to the Labor Department. Economists expected a rise to 275,000. Claims had fallen by 17,000 in the prior two weeks. Continuing jobless claims fell by 1,000 to 2.24 million in the week ended Sept. 12. | |||||||
| Caterpillar shares are off 6.3% and that is hurting the Dow. Today the company announced a restructuring program that will eliminate 10,000 jobs by the end of 2018. The company is aiming to save $1.5 billion annually through measures that include layoffs of 4,000 to 5,000 people by the end of 2016 and plant closures. | |||||||
| Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.86% for the week ending September 24, down from last week’s 3.91%. A year ago it was 4.20%. The 15-year fixed averaged 3.08% down from last week’s 3.11%. A year ago it was 3.36%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-rise-3000-to-267000-2015-09-24-8913652?dist=beforebell | |||||||
| http://www.marketwatch.com/story/caterpillar-to-shed-10000-jobs-by-end-2018-in-restructuring-2015-09-24 | |||||||
| http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-move-lower-otcqb-fmcc-1219212 | |||||||
| For today’s Market Update Report click to listen-> | |||||||