The KUIK Market Update for Thursday, December 17:
Markets are down.
Index Direction Change Units Time
Dow Down (109) points 17,638 8:06 AM
S&P500 Down -0.8% percent 2,057
Nasdaq Composite Down -0.5% percent 5,044
30 Year Treasury Down (4) Basis Points 2.96 Annual Yield
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.97% in the week ending December 17, up from last week’s 3.95%. A year ago it was 3.80%. The 15-year fixed averaged 3.22%, up from last week’s 3.19%. A year ago it was 3.09%.
The Commerce Department reports the U.S. current-account deficit, which measures the nation’s debt to other countries, rose 11.7% in the third quarter to the highest level since 2008. The deficit increased to a seasonally adjusted $124.1 billion from a revised $111.1 billion in the second. It’s the biggest gap since the fourth quarter of 2008 and stemmed mostly from higher payments to foreigners on U.S. investments and other income transfers. The trade deficit was little changed. As a percentage of the U.S. economy, it was 2.7% of gross domestic product, up from 2.5% in the prior quarter. That’s the highest percentage in three years.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-move-higher-otcqb-fmcc-1235929
http://www.marketwatch.com/story/us-current-account-deficit-hits-highest-level-since-2008-2015-12-17
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