The KUIK Morning Market Report for Thursday, August 10:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
10
points
22,026
7:20 AM
S&P500
Down
-0.7%
percent
2,456
(18.41)
Nasdaq Composite
Down
-1.1%
percent
6,280
(72.27)
30 Year Treasury
Down
(2)
Basis Points
2.80
Annual Yield
The Labor Department reports new applications for unemployment benefits rose by 3,000 to 244,000 in the week that ended August 5. Economists expected 242,000. Continuing claims fell by 16,000 to 1.95 million in the week that ended July 29.
The Labor Department also reports U.S. wholesale prices declined in July for the first time since August 2016 with the producer-price index down 0.1%. The core rate, which excludes the volatile categories of food, energy and trade, was flat. Economists expected a 0.1% gain. Over the past year producer prices slowed to 1.9% annually down from a high of 2.5% in April. July was the slowest annual rate since January.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.90% down from last week’s 3.93%. A year ago it was 3.45%. The 15-year fixed averaged 3.18%, same as last week. A year ago it was 2.76%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
