The KUIK Market Update for Thursday, September 14:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
9
points
22,167
8:09 AM
S&P500
Down
-0.1%
percent
2,497
(1.61)
Nasdaq Composite
Down
-0.2%
percent
6,450
(10.56)
30 Year Treasury
Down
(2)
Basis Points
2.78
Annual Yield
The Labor Department reports initial jobless claims for the week ended September 10 fell to 284,000 from 298,000. But the effects of Hurricane Irma could keep new claims at elevated levels over the next few weeks. Continuing claims fell by 7,000 to 1.94 million in the first week of September.
Freddie Mac reports mortgage rates are holding at the lows of 2017. The 30-year fixed-rate mortgage averaged 3.78% this week, the same as last week. A year ago it averaged 3.50%. The 15-year fixed was unchanged at 3.08%. A year ago it was 2.77%.
Senate Finance Committee Chairman Orrin Hatch ays he’d like to make tax cuts retroactive to the beginning of this year, and would cut the corporate rate to as low as 20% as lawmakers and the Trump administration work on a tax-reform package. The Republican from Utah also panned the idea of taxing 401(k) contributions to raise revenue.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
