The KUIK Morning Market Report for Thursday, January 18:
Markets are down slightly.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(19)
points
26,096
7:09 AM
S&P500
Down
0.0%
percent
2,802
(0.75)
Nasdaq Composite
Down
-0.2%
percent
7,285
(8.63)
30 Year Treasury
Up
3
Basis Points
2.88
Annual Yield
The Labor Department reports initial claims for unemployment benefits fell by 41,000 to 220,000 in the week ended January 13, for the biggest one-week drop since 2009. New claims touched the lowest level since February 1973.Continuing claims rose by 76,000 to 1.95 million the week before.
The Commerce Department reports construction on new homes fell 8.2% in December to 1.19 million annually. Economists expected 1.28 million. Single-family starts dropped 11.8%, but construction on buildings with five or more units rose 2.6%. Permits were flat at 1.30 million.
The Philadelphia Fed said its manufacturing index fell to five-month low of 22.2 in January. Any reading above zero indicates improving conditions. Confidence is still strong, but is returning to more normal levels after a big run up in 2017. New-orders fell but shipments rose.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
