The KUIK Morning Market Report for Thursday, January 21:
Markets are mixed.
Index Direction Change Units Time
Dow Up 26 points 15,794 7:03 AM
S&P500 Up 0.1% percent 1,862
Nasdaq Composite Down 0.0% percent 4,471
30 Year Treasury Down (1) Basis Points 2.75 Annual Yield
The Labor Department reports that new claims for unemployment benefits climbed by a seasonally adjusted 10,000 to 293,000 in the week ended January 16. That’s the highest level since July. Continuing claims fell by 56,000 to 2.21 million the week ended January 9.
The Philadelphia Fed’s manufacturing index was negative in January for the fifth month in a row but there was some improvement. The index rose to negative 3.5 from negative 10.2, eonomists expected a negative 6 and the index of new orders rose 10 points to negative 1.4.
Crude oil is down 0.3% to $28.35 a barrel. Investors are waiting for an update later today on U.S. oil stockpiles from the Energy Information Administration. It is expected to report an increase in supply from last week.
The Shanghai Composite Index fell 3.2%. The People’s Bank of China added the most cash in four years to the country’s financial system. The move is seen as a bid to stave off capital flight before the weeklong Lunar New Year holiday that starts in early February
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-jump-again-to-7-month-high-2016-01-21
http://www.marketwatch.com/story/philly-fed-index-stays-negative-in-january-for-fifth-month-2016-01-21
http://www.marketwatch.com/story/wall-street-braces-for-another-volatile-day-as-dow-futures-leap-and-fall-2016-01-21
http://www.marketwatch.com/story/wall-street-braces-for-another-volatile-day-as-dow-futures-leap-and-fall-2016-01-21
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