The Labor Department reports new claims for unemployment benefits jumped by 13,000 to 248,000 this week. Economists expected only 239,000. Continuing claims fell by 9,000 to 1.92 million. They’ve been under 2 million for seven straight weeks.
Freddie Mac Reports the 30-year fixed-rate mortgage averaged 3.94% this week, down from last week’s 3.95%. A year ago it was 3.66%. The 15-year fixed averaged 3.19%, the same as last week. A year ago it was 2.92%.
The Institute for Supply Management said its manufacturing index edged up a 0.1 o 54.9%. Economists expected 55%. Readings above 50% indicate expansion. New-orders were up will prices fell. Overseas readings from Markit on its manufacturing Purchasing Manager Indices are strong. Brazil is at a four-year high; the eurozone hit a six-year high; Canada is near six-year peak, and Britain is near a three-year high.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
