The KUIK Morning Market Report for Thursday, October 26:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
98
points
23,428
7:15 AM
S&P500
Up
0.2%
percent
2,561
4.14
Nasdaq Composite
Down
-0.2%
percent
6,553
(11.29)
30 Year Treasury
Unchanged
–
Basis Points
2.95
Annual Yield
The Labor Department reports new claims for unemployment benefits rose by 10,000 to 233,000 the week ended October 21. That matched expectations. Continuing claims fell by 3,000 to 1.89 million. "The increases in claims in Texas and Florida because of Hurricanes Harvey and Irma appear to have largely run their course and claims are back to around where they were two months ago,” says Jim O’Sullvan, chief U.S. economist at High Frequency Economics.
The pending-home sales index from the National Association of Realtors for September was 106, unchanged from the downwardly-revised August. That missed consensus estimates for a 0.4% increase. The index forecasts future sales by tracking real estate transactions in which a contract has been signed, but the deal has not yet closed. Pending sales in the Northeast were up 1.2%, up 1.4% in the Midwest, up 1.9% here in the West, but down 2.3% in the South. Contract signings are lower compared to a year ago in all regions.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
