The KUIK Morning Market Report for Thursday, March 30:
Markets are flat.
Index
Direction
Change
Units
Time
Dow
Up
10
points
20,670
6:52 AM
S&P500
Up
0.0%
percent
2,362
Nasdaq Composite
Up
0.1%
percent
5,905
30 Year Treasury
Up
1
Basis Points
3.00
Annual Yield
The Labor Department reports new applications for unemployment benefits last week rose by 3,000 to 258,000. Economists expected 247,000. New claims have been below the key 300,000 level for 108 straight weeks. Continuing claims rose by 65,000 to 2.1 million. Two weeks ago they fell below 2 million for the first time since 2000.
The Commerce Department reports gross domestic product grew at a 2.1% annual pace in the fourth quarter. That was a bit stronger than the previously reported 1.9% due to higher spending on gasoline and travel-related services. Most of the revision was due to consumer spending which was raised to 3.5% from 3%. Corporate profits also are up. Adjusted-pretax profits rose at a 0.5% annual pace in the fourth quarter after a nearly 6% gain in the third.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
