The KUIK Morning Market Report for Thursday, May 11:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(38)
points
20,904
7:04 AM
S&P500
Down
-0.7%
percent
2,384
(15.48)
Nasdaq Composite
Down
-0.8%
percent
6,083
(45.99)
30 Year Treasury
Up
1
Basis Points
3.05
Annual Yield
The federal government ran a budget surplus of $182.4 billion in April, up $76.4 billion from the same month last year, the Treasury Department said Wednesday. Total receipts were up 4% from April 2016. Receipts were boosted by a change in corporate tax filing deadlines from mid-March to mid-April. Spending decreased by 18% from the same month last year. April is usually a surplus month because the government receives tax payments ahead of the tax-filing deadline. Through the first seven months of the fiscal year, the government is running a deficit of $344.4 billion, down 2.4% from the same period a year ago.
The jobless claims report showed the number of people receiving benefits after an initial week of unemployment aid fell 61,000 to 1.91 million in the week ended April 29. That was the lowest level of so-called continuing claims since November 1988.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
