Market Update Report 1/25/2018

The KUIK Market Update for Thursday, January 25:

Markets are up.

Index

Direction

Change

Units

Index

Time

Change

Dow Jones Industrial Average

Up

                    94

 points

          26,346

7:34 AM

S&P500

Up

0.1%

percent

            2,839

      1.80

Nasdaq Composite

Up

0.0%

percent

            7,416

      1.57

30 Year Treasury

Down

                     (2)

Basis Points

              2.92

Annual Yield

The Labor Department reports initial claims for unemployment benefits rose by 17,000 to 233,000 the week ended January 20.  That was below the 240,000 expected by economists, but above the 216,000 the prior week, which was the lowest number since January 1973. Continuing claims fell by 28,000 to 1.94 million in the week ended Jan. 13.

Freddie Mac reports mortgage rates have hit a 10-month high. The 30-year fixed-rate mortgage averaged 4.15% this week, up from last week’s 4.04%. A year ago it averaged 4.19%. The 15-year fixed was 3.62% up from 3.49%. A year ago it was 3.40%.

The Commerce Department reports new-home sales were a 625,000 seasonally adjusted annual rate in December. Economists expected a 680,000 annual rate. November was revised downward and  December rate was 9.3% below that, but 14.1% higher than a year ago. The median price was $335,400, 2.5% higher than a year ago. At the current pace, it would take 5.7 months to exhaust available inventory.

For a free Social Security and Retirement Analysis go to brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK.

www.marketwatch.com/story/us-jobless-claims-rise-one-week-after-dropping-to-45-year-low-2018-01-25

freddiemac.mwnewsroom.com/press-releases/mortgage-rates-jump-again-otcqb-fmcc-1327925

www.marketwatch.com/story/new-home-sales-droop-in-december-but-cap-a-strong-2017-2018-01-25

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