The KUIK Morning Market Report for Thursday, October 19:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(86)
points
23,071
6:59 AM
S&P500
Down
-0.5%
percent
2,549
(11.93)
Nasdaq Composite
Down
-0.9%
percent
6,563
(61.12)
30 Year Treasury
Down
(4)
Basis Points
2.81
Annual Yield
The Labor Department reports new claims for unemployment benefits fell by 22,000 to 222,000 last week. That’s the lowest number since March 1973 and well the 244,000 expected by economists. Continuing claims fell by 16,000 to 1.89 million. That’s also a 44-year low. The 4.2% unemployment rate is the lowest since 2000. and the biggest complaint among business owners is a shortage of skilled workers to fill a record number of job openings.
The Philadelphia Fed manufacturing index hit a 5-month high in October. Its rose 4.1 points to 27.9, the strongest reading since May. Any reading over zero signals improving conditions. Economists expectd 20.2. Overall conditions improved, but some details softened. New-orders and shipments both fell but number of employees and average workweek were up.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
