The KUIK Market Update for Thursday, December 31:
Markets are down.
Index Direction Change Units Time
Dow Down (109) points 17,495 7:21 AM
S&P500 Down -0.6% percent 2,051
Nasdaq Composite Down -0.7% percent 5,033
30 Year Treasury Down (2) Basis Points 3.02 Annual Yield
The Labor Department reports new applications for U.S. unemployment benefits jumped by 20,000 to 287,000 the week ended December26. This is the largest weekly increase since February and claims are at their highest level since July 4. Economists expected only 275,000 new claims. Continuing claims rose by 3,000 to almost 2.2 million, the week ended December 19.
Freddie Mac reports the 30-year fixed-rate mortgageaveraged 4.01% for the week ending December 31, up from last week’s 3.96%. A year ago it was 3.87%. The 15-year fixed averaged 3.24%, up from 3.22% last week. A year ago it was 3.15%.
February gold is up 0.2%, to $1061.70 an ounce after ending yesterday at its lowest level in two weeks. It’s one track to end the week down 1.5%, a 0.5% drop for December, and down 10.5% for the year, according to FactSet.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-jump-20000-to-287000-2015-12-31
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-top-four-percent-otcqb-fmcc-1237146
http://www.marketwatch.com/story/gold-futures-lower-eyeing-weekly-monthly-yearly-loss-2015-12-31
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