| The KUIK Morning Market Report for Thursday, November 19: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (10) | points | 17,729 | 7:05 AM | ||
| S&P500 | Up | 0.0% | percent | 2,084 | 0.85 | ||
| Nasdaq Composite | Up | 0.1% | percent | 5,079 | 3.84 | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.00 | Annual Yield | ||
| The Labor Department reports new applications for unemployment benefits for the wek ended November 14 fell by 5,000 to 271,000. Economists expected 270,000. Continuing claims fell by 2,000 to 2.18 million the week ended November 7. | |||||||
| The Wall Street Journal reports that mobile payments company Square priced its initial public offering at $9 a share, below the initial target price $11 to $13. Square is expected to sell 31 million shares. That price would put the company’s valuation at slightly less than $3 billion, approximately half of the $6 billion valuation from its last private funding round, which included investment from the government of Singapore. Square’s IPO is seen as a test for the “unicorns, ” startup tech companies privately valued at over $1 billion, which have yet to go public. | |||||||
| The Philadelphia Fed manufacturing index showed some improvement, rising to 1.9 in November after being negative for two months. Economists expected zero where readings below zero indicates deteriorating conditions. New orders and shipments both remained negative although they showed some improvement. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-drop-5000-to-271000-2015-11-19 | |||||||
| http://www.marketwatch.com/story/square-ipo-pricing-is-a-warning-to-unicorn-startups-2015-11-18 | |||||||
| http://www.marketwatch.com/story/philly-fed-survey-shows-activity-improved-in-november-after-two-negative-readings-2015-11-19 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||