The KUIK Morning Market Report for Thursday, March 1:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(28)
points
25,001
7:14 AM
S&P500
Down
-0.1%
percent
2,711
Nasdaq Composite
Down
-0.2%
percent
7,257
3.00
30 Year Treasury
Down
(1)
Basis Points
3.12
Annual Yield
The Labor Department reports new claims for unemployment benefts by 10,000 to 210,000 the week ended February24. That is the lowest number since December 1969. Economists expected 226,000. Continuing claims, increased by 57,000 to 1.93 million the week before. This is the strongest labor market since the end of the dotcom boom in 2000.
The Federal Reserve’s preferred Personal Consumption Expenditures inflation index rose 0.4% in January, but the yearly increase was flat at 1.7% for the third month in a row. The Core PCE which strips out food and energy climbed 0.3%.Inflation has been rising gradually over the past few years, but it’s still below the Fed’s 2% target.
Freddie Mac report the 30-year fixed-rate mortgage 4.43% this week, up from last week’s when it averaged 4.40%. A year ago is ws 4.10%. The 15-year fixed was 3.90%, up from 3.85%. A year ago it was 3.32%.
Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK.
