| The KUIK Market Update for Thursday, November 5: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (74) | points | 17,793 | 8:08 AM | ||
| S&P500 | Down | -0.4% | percent | 2,093 | (9.05) | ||
| Nasdaq Composite | Down | -0.7% | percent | 5,109 | (33.27) | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.01 | Annual Yield | ||
| The Labor Department reports new claims for unemployment benefits for the week ending October 31 rose by 16,000 to a seasonally adjusted 276,000. The last time jobless claims were higher was at the end of August. Continuing claims rose by 17,000 to 2.16 million for the week ended October 24. | |||||||
| Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.87% for the week ending November 5, up from last week’s 3.76%. A year ago it was 4.02%. The 15-year averaged 3.09% with aup from last week’s 2.98%. A year ago it was 3.21%. | |||||||
| Fannie Mae said profit was halved in the third quarter, as declines in long-term interest rates hurt the value of the mortgage-finance company’s derivatives. It expects to send the U.S. Treasury $2.2 billion in December. The company reported a profit of $1.96 billion for the third quarter, down from $3.91 billion a year earlier. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-match-highest-level-in-two-months-2015-11-05 | |||||||
| http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-move-higher-otcqb-fmcc-1227055 | |||||||
| For today’s Market Update Report click to listen-> | |||||||