| The KUIK Market Update for Thursday, May 16: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 5 | points | 15,271 | 7:54 AM | ||
| S&P500 | Down | -0.06% | percent | 1,658 | (1.04) | points | |
| Nasdaq Composite | Up | 0.19% | percent | 3,478 | 23.82 | points | |
| 30 Year Treasury | Down | (7) | Basis Points | 3.09 | Annual Yield | ||
| The Labor Department reports initial jobless claims climbed by 32,000 to a seasonally adjusted 360,000 in the week ended May 11. Economists surveyed by MarketWatch expected only 330,000. | |||||||
| Housing starts fell 16.5% in April to a seasonally adjusted annual rate of 853,000 the lowest level since November after a big drop in apartment starts, according to the Commerce Department. Starts for single-family homes declined 2.1% in April to a seasonally adjusted annual rate of 610,000, while starts for structures with at least five units dropped 37.8% to a rate of 234,000. | |||||||
| More signs of a manufacturing slowdown. The Philadelphia Federal Reserve’s index of business conditions turned negative in May for the first time since February, falling to -5.2 from 1.3 in the prior month. Economists polled by MarketWatch had expected the index to improve to 2.0.. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-jump-to-six-week-high-2013-05-16 | |||||||
| http://www.marketwatch.com/story/april-home-construction-falls-to-six-month-low-2013-05-16 | |||||||
| http://www.marketwatch.com/story/philadelphia-manufacturers-struggle-to-grow-2013-05-16?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||