The Labor Department reports new claims for unemployment benefits increased by 2,000 to 234,000 the week that ended August 19. It hit a six month low ithe week before. Economists expected 238,000. Continuing claims were changed at 1.95 million August 12.
Freddie Mac reports interest rates have hit the lows for 2017. The 30-year fixed-rate mortgage averaged 3.86% this week, down from last week’s 3.89%. A year ago it was 3.43%. The 15-year fixed averaged 3.16%, same as last week. A year ago it was 2.74%.
The Jackson Hole symposium hosted by the Kansas City Federal Reserve Bank, titled “Fostering a Dynamic Global Economy,” kicks off ontoday and runs through Saturday, with European Central Bank President Mario Draghi and Federal Reserve Chairman Janet Yellen set to speak tomorrow. Traders will be watching for any signals on the path for policy as Draghi contends with signs of improvement in the eurozone economy and Yellen aims to normalize the interest-rate regime in the U.S.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
