The KUIK Morning Market Report for Thursday, June 29:
Markets are down
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(59)
points
21,397
7:22 AM
S&P500
Down
-0.4%
percent
2,432
(8.99)
Nasdaq Composite
Down
-1.0%
percent
6,172
(62.07)
30 Year Treasury
Up
5
Basis Points
2.82
Annual Yield
The Labor Department reports new applications for unemployment benefits rose by 2000 to a seasonally adjusted 244,000 the week ended June 24. That matched expectations. New applications have been under 300,000 for 121 straight weeks. Continuing claims rose by 6,000 to 1,948,000 the week ended June 17. Continuing claims have been under 2 million for the 11th straight week. The unemployment rate is 4.3%.
The Commerce Department revised first quarter Gross Domestic Product upward to a 1.4% annual pace. That better than the previously reported 1.2% rate and double the original 0.7% estimate. The improvment is due mostly to stronger exports and an increase in consumers spending on health care and financial services. Exports rose at a 7% rate compared to an earlier 5.8% estimate. Imports were revised to 4% from 3.8%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
