The KUIK Morning Market Report for Thursday, August 3:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
4
points
22,020
7:23 AM
S&P500
Down
-0.2%
percent
2,473
(4.68)
Nasdaq Composite
Down
-0.3%
percent
6,345
(17.90)
30 Year Treasury
Down
(2)
Basis Points
2.83
Annual Yield
The Institute for Supply Management said its nonmanufacturing index fell to 53.9% in July from 57.4% in June. Economists polled by MarketWatch expected a reading of 56.9%. Reading above 50% indicate improving conditions. But that is the weakest rate of growth for the service sector in 11 months.
The Labor Department reports new claims for unemployment benefits last week fell by 5,000 to 240,000. Continuing claims rose by 3,000 to 1.97 million and have been under 2 million for 17 straight weeks,
Freddie Mac reports mortgage rates are steady. 30-year fixed-rate mortgage averaged 3.93% this week, up from last week’s 3.92%. A year ago it was 3.43%. The 15-year fixed averaged 3.18% down from 3.20%. A year ago it was 2.74%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
