The KUIK Morning Market Report for Thursday, September 21:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(25)
points
22,387
7:09 AM
S&P500
Down
-0.3%
percent
2,501
(7.44)
Nasdaq Composite
Down
-0.6%
percent
6,418
(37.67)
30 Year Treasury
Down
(3)
Basis Points
2.79
Annual Yield
Manufacturing conditions in the mid-Atlantic region accelerated in September and suggest an economy picking up steam, according to The Philadelphia Fed. It said its manufacturing index rose to a three-month high of 23.8, up from 18.9 in August. Economists expected 18. Any reading above zero indicates improving conditions. General activity, new orders, and shipments all increased.
Initial claims for unemployment benefits for the week ended September 16 fell by 23,000 to 259,000, according to the Labor Department. Last week claims hit a two-year high after hurricane Harvey. continuing claims, rose by 44,000 to 1.98 million the week ended September 9.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.83% this week, up from last week’s 3.78%. A year ago it was 3.48%. The 15-year fixed averaged 3.13%, up from 3.08%. A year ago it averaged 2.76%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
