The KUIK Morning Market Report for Thursday, October 27:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
3
points
18,202
7:09 AM
S&P500
Up
0.0%
percent
2,140
Nasdaq Composite
Up
0.1%
percent
5,256
30 Year Treasury
Up
6
Basis Points
2.60
Annual Yield
The Labor Department reports new applications for unemployment benefits fill by 3,000 to 258,000 last week. Economists expected 255,000. Continuing claims fell by 15,000 to 2.04 million in the week ended October 15.
Orders for durable goods made in the U.S. fell 0.12% in September. . Economists expected a 0.1% increase. The drop was the first in three months, and was due to a 45% drop in orders for large military goods such as fighter jets. Excluding defense spending, orders rose a solid 0.7%. Autos were up 1.2% and commercial aircraft were up 12.5%. Boeing almost doubled its orders last month. Business investment though posted the biggest drop in seven months.
The National Association of Realtors’ pending home sales index hit 110.0 in September up 1.5% from August, due to surging demand in the West and South. The index is 2.4% higher than year ago, and the monthly gain beat the 1.0% expected by economists. Here in the West, pendings are up 4.7% for the month and 4.0% over the past year. The index forecasts future sales by tracking real estate transactions in which a contract has been signed, but the deal has not yet closed.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
