Market Update Report 3/1/2018

The KUIK Market Update for Thursday, March 1:

Markets are mixed.

Index

Direction

Change

Units

Index

Time

Change

Dow Jones Industrial Average

Up

                    24

 points

          25,053

8:00 AM

S&P500

Up

0.1%

percent

            2,716

      3.00

Nasdaq Composite

Down

-0.1%

percent

            7,268

     (1.00)

30 Year Treasury

Up

                      1

Basis Points

              3.12

3.14

The Labor Department reports new claims for unemployment benefts fell by 10,000 to 210,000 the week ended February  24. That is the lowest number since December 1969. Economists expected 226,000. Continuing claims, increased by 57,000 to 1.93 million the week before. This is the strongest labor market since the end of the dotcom boom in 2000.

Freddie Mac report the 30-year fixed-rate mortgage averaged 4.43% this week, up from last week’s 4.40%. A year ago is was 4.10%. The 15-year fixed was 3.90%, up from 3.85%. A year ago it was 3.32%.

The Institute for Supply Management said its manufacturing index rose to 60.8% in February, up from 59.1% in January, to reach the highest level since May 2004. Economists expected 59%. Readings above 50% indicate improving conditions.  Employment had the biggest rise.  New orders and production  fell slightly but were still very strong.

Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK.

www.marketwatch.com/story/us-jobless-claims-plunge-to-49-year-low-of-210000-2018-03-01

freddiemac.mwnewsroom.com/press-releases/fixed-rate-mortgage-rates-rise-for-eighth-consecut-otcqb-fmcc-1328514

www.marketwatch.com/story/ism-manufacturing-gauge-hits-new-13-year-high-2018-03-01

For today’s Market Update Report click to listen->