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The KUIK Morning Market Report for Thursday, February 1: |
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Markets are flat. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Down |
(3) |
points |
26,146 |
7:15 AM |
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S&P500 |
Down |
0.0% |
percent |
2,822 |
(1.99) |
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Nasdaq Composite |
Down |
0.0% |
percent |
7,411 |
(2.34) |
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30 Year Treasury |
Up |
1 |
Basis Points |
2.95 |
Annual Yield |
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Former Fed Chairman Alan Greenspan, who warned of “irrational exuberance” during the dot-com bubble of the 1990s, said Wednesday that Wall Street is in another bubble. Two, in fact, in both stock and bonds. In an interview on Bloomberg TV he said "At the end of the day, the bond market bubble will eventually be the critical issue. For the short term it’s not too bad, But we’re working…toward a major increase in long-term interest rates, and that has a very important impact..on the whole structure of the economy.” |
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The Labor Department repots new applications for unemployment benerefts fell by 1000 to 230,000 the week ended January 27. Economists expected 240,000. Continuing claims rose by 13,000 to 1.95 million the week before. |
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Freddie Mac reports mortgage rates are up. The 30-year fixed-rate mortgage averaged 4.22% this week up from last week’s 4.15%. A year ago it was 4.19%. The 15-year fixed averaged 3.68% up from 3.62%. A year ago it was 3.41%. |
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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. |
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www.marketwatch.com/story/alan-greenspan-says-there-are-two-bubbles-in-stocks-and-bonds-2018-01-31 |
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www.marketwatch.com/story/jobless-claims-fall-slightly-to-230000-layoffs-extremely-low-2018-02-01 |
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freddiemac.mwnewsroom.com/press-releases/rates-continue-to-rise-otcqb-fmcc-1328096 |
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For today’s Morning Market Report click to listen-> |
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