The KUIK Closing Market Report for Thursday, May 11:
Markets were down.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(23)
points
20,919
8:24 PM
S&P500
Down
-0.2%
percent
2,394
(5.19)
Nasdaq Composite
Down
-0.2%
percent
6,116
(13.18)
30 Year Treasury
Unchanged
–
basis points
3.04
Annual Yield
The four-week moving average of continuing jobless claims fell to the lowest level for this average since February 1974. Federal Reserve officials believe the labor market is close to full employment, and have said they need to raise interest rates gradually to protect the economy from overheating.The market expects the central bank to raise interest rates for the second time this year at its meeting in mid-June. The government on Thursday also reported a sharp increase in wholesale prices in April.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
