| The KUIK Market Update for Thursday, February 21: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (60) | points | 13,868 | 7:57 AM | ||
| S&P500 | Down | -0.52% | percent | 1,504 | (7.83) | points | |
| Nasdaq Composite | Down | -0.63% | percent | 3,144 | (19.95) | points | |
| 30 Year Treasury | Down | (5) | Basis Points | 3.16 | Annual Yield | ||
| Initial jobless claims rose 20,000 to a seasonally adjusted 362,000 in the week ended Feb.16, according to the Labor Department. Economists surveyed by MarketWatch forecast claims to rise to 351,000 from a revised 342,000 in the prior week. The monthly average of jobless claims, a more accurate number that smooths out weekly volatility, rose by 8,000 to 360,750. That’s the highest level since the first week of January. | |||||||
| Marketwatch reports prices for consumer goods and services were unchanged in January for the second month in a row, as higher costs for housing, clothes and airline fares were offset by a seasonally adjusted decline in energy expenses. Economists expected a .1 percent increase. | |||||||
| The downturn in Europe increased in February, with the preliminary composite purchasing-managers’ index dropping to a two-month low of 47.3 from a January reading of 48.6, according to Markit. A reading of less than 50 indicates contraction. Economists surveyed by Dow Jones forecast 48.5. The region is on course for a fourth consecutive quarter of contraction in the first three months of 2013, although the decline appears likely to be less severe than the 0.6% drop in gross domestic product seen in the fourth quarter of 2012. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-climb-20000-to-362000-2013-02-21?link=MW_pulse | |||||||
| http://www.marketwatch.com/story/consumer-inflation-unchanged-in-january-2013-02-21 | |||||||
| http://www.marketwatch.com/story/euro-zone-feb-pmi-signals-steeper-downturn-2013-02-21?dist=lcountdown | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||