The KUIK Market Update for Thursday, February 25:
Markets are mixed.
Index Direction Change Units Time
Dow Up 13 points 16,498 6:00 PM
S&P500 Down -0.1% percent 1,928
Nasdaq Composite Down -0.3% percent 4,530
30 Year Treasury Down (1) Basis Points 2.59 Annual Yield
Crude inventory rose by 3.5 million barrels last week to a new weekly high of 507.6 million barrels, according to the U.S. Energy Information Administration. Gasoline stocks showed a surprise decline of 2.2 million barrels. April crude is off 1.4% to $31.69 a barrel on the New York Merc.
In China, the Shanghai Composite fell 6.4% to 2,741.25, itsworst%age drop since Jan. 26. It is down 47% since its high last summer.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.62% for the week ending February 25, down from last week’s 3.65%. A year ago it was 3.80%. The 15-year fixed averaged 2.93% down from last weeks when it averaged 2.95%. A year ago ait was 3.07%.
The Labor Department reports new applications for unemployment benefits rose by 10,000 to 270,000 the week ended February 20. Continuing claims fell by 19,000 to 2.25 million the week ended February 13.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/crude-oil-steady-as-investors-weigh-latest-inventory-build-2016-02-25
http://www.marketwatch.com/story/asian-stocks-mixed-as-china-prepares-for-g20-2016-02-24
http://freddiemac.mwnewsroom.com/press-releases/fixed-mortgage-rates-resume-decline-otcqb-fmcc-1245937
http://www.marketwatch.com/story/jobless-claims-climb-10000-to-272000-2016-02-25
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