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The KUIK Market Update for Thursday, March 8: |
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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 |
11 |
points |
24,812 |
8:11 AM |
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S&P500 |
Up |
0.2% |
percent |
2,732 |
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Nasdaq Composite |
Up |
0.3% |
percent |
7,416 |
3.00 |
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30 Year Treasury |
Down |
(3) |
Basis Points |
3.12 |
Annual Yield |
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The Labor Department reports initial claims for unemployment benefits rose by 21,000 to 231,000 the week ended March 3. That’s the highest level in six weeks. Continuing claims, fell by 65,000 to 1.87 million the week before. |
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Freddie Mac reports the 30-year fixed-rate mortgage averaged 4.46% this week, up from 4.43% last week. A year ago it was 4.21%. The 15-year fixed averaged 3.94% up from 3.90%. A year ago it was 3.42%. |
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The Securities and Exchange Commission charged Merrill Lynch with failing to perform required gatekeeping functions in the unregistered sales of securities on behalf of a China-based issuer. The order found the Bank of America unit sold nearly 3 million shares of Longtop Financial Technological Limited’s securities despite red flags indicating that the sales could be part of an unlawful unregistered distribution. Merrill Lynch didn’t admit or deny findings and paid a $1.25 million penalty and more than $154,000 in disgorgement and prejudgment interest. |
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Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK. |
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freddiemac.mwnewsroom.com/press-releases/mortgage-rates-push-higher-otcqb-fmcc-1328567 |
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For today’s Market Update Report click to listen-> |
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