The KUIK Market Update for Thursday, February 4:
Markets are up.
Index Direction Change Units Time
Dow Up 83 points 16,417 7:33 AM
S&P500 Up 0.6% percent 1,924
Nasdaq Composite Up 0.7% percent 4,537
30 Year Treasury Up 2 Basis Points 2.72 Annual Yield
European Central Bank President Mario Draghi hit back at a warning from Germany’s Bundesbank that the ECB shouldn’t overreact to a sharp drop in oil prices, underlining his readiness to launch additional stimulus to shore up ultralow inflation. In a speech in Frankfurt, Draghi warned that central banks “cannot be relaxed” in the face shocks to commodity prices.
New claims for unemployment benefits rose by 8,000 a seasonally adjusted 285,000 in the week ended January 30, according to the Labor Department. Economists expected 280,000. Continuing claims increased by 18,000 to 2.26 million the week ended January 23.
30-year fixed-rate mortgage averaged 3.72% for the week ending February 4, according to Freddie Mac down from last week when it averaged 3.79%. A year ago it was 3.59%. The 15-yearfixed 3.01% down from 3.07%. A year ago it was 2.92%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/draghi-warns-of-risk-of-not-acting-on-inflation-2016-02-04-54851538
http://www.marketwatch.com/story/jobless-claims-rise-8000-to-285000-but-still-very-low-2016-02-04
http://freddiemac.mwnewsroom.com/press-releases/lower-than-expected-mortgage-rates-offer-refinance-otcqb-fmcc-1242376
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