| The KUIK Market Update for Thursday, May 14: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 155 | points | 18,215 | 7:57 AM | ||
| S&P500 | Up | 0.7% | percent | 2,114 | 15.10 | ||
| Nasdaq Composite | Up | 0.9% | percent | 5,025 | 43.30 | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.03 | Annual Yield | ||
| The Labor Department reports new applications for unemployment benefits fell by by 1,000 to 264,000. Layoffs are at a 15-year low even though hiring has slowed a bit since the end of 2014. Economists expected claims to rise to a seasonally adjusted 275,000 in the week ended May 9 from an unrevised 265,000 in the week before. New claims have been less than 270,000 for three straight weeks, only the second time that’s happened since 1975. The last time was in the spring of 2000 at the end of the Internet boom. Continuing claims were unchanged at 2.23 million in the week ended May 2. | |||||||
| Freddie Mac reports mortgage rates are higher for the third consecutive week. The 30-year fixed rate mortgage averaged 3.85% for the week ended May 14 up from 3.8% last week. A year ago it was at 4.2%. The 15-year fixed average 3.07%, up from 3.02% last week. A year ago it was 3.29%. | |||||||
| Wal-Mart is taking on Amazon.com with plans to test an unlimited shipping service for $50 a year, according to The Wall Street Journal. The world’s biggest retailer will test the service on members this summer. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-dip-to-264000-remain-at-15-year-low-2015-05-14 | |||||||
| http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-higher-for-third-consecutive-week-otcqb-fmcc-1194942 | |||||||
| http://www.marketwatch.com/story/wal-mart-takes-on-amazon-with-plan-to-test-50-a-year-unlimited-shipping-service-2015-05-14?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||