The KUIK Morning Market Report for Thursday, July 20:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(9)
points
21,631
7:03 AM
S&P500
Up
0.1%
percent
2,476
2.37
Nasdaq Composite
Up
0.1%
percent
6,390
4.85
30 Year Treasury
Down
(3)
Basis Points
2.82
Annual Yield
The Labor Department reports new claims for unemployment benefits fell by 15,000 to a seasonally adjusted 233,000 last week. Continuing claims increased by 28,000 to 1.98 million the week ended July 8.
The Philadelphia Federal Reserve said its manufacturing survey in July fell to 19.5 from 27.6 in June. Any reading above zero indicates improving conditions. Economists expected 22. The indexes for activity, new orders, shipments, employment, and work hours were all positive but fell from June. A report from the New York Fed released earlier this week also showed a deceleration in July. The drops come when manufacturing is recovering, but mostly because of gains in the oil and gas sector. Industrial production in June rose for the fifth consecutive month, according to separate data from the Fed.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
