The KUIK Morning Market Report for Thursday, March 23:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(10)
points
20,651
6:52 AM
S&P500
Down
-0.1%
percent
2,347
Nasdaq Composite
Down
-0.2%
percent
5,812
30 Year Treasury
Up
1
Basis Points
3.02
Annual Yield
The Labor Department reports new applications for unemployment benefits jumped jumped by 15,000 to 258,000 last week. That matched a two-month high. Economists expected 240,000. New jobless claims bottomed out at 210,000 the week of February 25 for the lowest level since December 6, 1969. Continuing claims fell 39,000 to 2 million the week ended March 11.
U.S. stock markets have become a less attractive place for companies to raise money and regulators could intervene to improve the trend. Jay Clayton is President Trump’s choice to lead the Securities and Exchange Commission. He will say that at his confirmation hearing today, according to his prepared remarks. In his testimony, Clayton notices the drop in the number of initial public offerings as some of the biggest tech companies such as Uber Technologies Inc. have chosen to stay private longer.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
