The KUIK Morning Market Report for Wednesday, November 23:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(2)
points
19,021
7:05 AM
S&P500
Down
-0.3%
percent
2,197
Nasdaq Composite
Down
-0.5%
percent
5,362
30 Year Treasury
Up
4
Basis Points
3.05
Annual Yield
The Labor Department reports new applications for unemployment benefits last week rose by 18,000 to 251,000. Economists expected ony 248,000. Most of the increase was in California and Illinois. Initial claims fell to a 43-year low the week before. Continuing claims climbed 60,000 to 2.43 million the week ended November 12. The previous week the fell below 2 million for the first time since 2000.
The Commerce Department reports order for durable goods were up 4.8% in October, mostly due to stronger demand for commercial aircraft. That was the the fourth monthly increase in a row. Economists expected only a 3.3% gain. New orders Boeing helped 94.1% spike in new orders for passenger planes. Demand for new cars and trucks fell 0.6%. If the aircraft and auto industries are left out, orders for durable goods increased only 1% in October. Orders for core capital-goods which measure business investment rose 0.4% in October after a big drop in September but they are 4% lower compared to a year ago.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
