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The KUIK Market Update for Thursday, February 22: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Up |
224 |
points |
25,022 |
8:07 AM |
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S&P500 |
Up |
0.7% |
percent |
2,720 |
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Nasdaq Composite |
Up |
0.6% |
percent |
7,261 |
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30 Year Treasury |
Down |
(3) |
Basis Points |
3.19 |
Annual Yield |
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The Labor Department reports that initial claims for uemployment benefits fell by 7,000 to 222,000 the week ended February 17, for the second lowest level since the end of the 2009 recession. Economists expected 230,000. Continuing claims fell by by 73,000 to 1.88 million the week before. |
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Freddie Mac reports mortgage rates keep moving up. The 30-year fixed-rate mortgage averaged 4.40% this week, up from last week’s 4.38%. A year ago it was 4.16%. The 15-year fixed averaged 3.85% up from 3.84%. A year ago it was 3.37%. |
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The Conference Board’s leading economic index jumped 1% in January, for the fourth straight gain and the biggest monthly rise in three months. Building permits and the financial subcomponents were the main drivers of the strong gain, as 8 of the 10 indicators were positive. "The leading indicators reflect an economy with widespread strengths coming from financial conditions, manufacturing, residential construction, and labor markets," said Ataman Ozyildirim, director of business cycles and growth research. |
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Sign up for a Social Security and Retirement Analysis at brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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freddiemac.mwnewsroom.com/press-releases/mortgage-rates-continue-upward-climb-otcqb-fmcc-1328429 |
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For today’s Market Update Report click to listen-> |
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