| The KUIK Market Update for Thursday, October 17: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (107) | points | 15,267 | 7:11 AM | ||
| S&P500 | Down | -0.15% | percent | 1,719 | (2.64) | ||
| Nasdaq Composite | Down | -0.25% | percent | 3,830 | (9.78) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.69 | Annual Yield | ||
| A Chinese ratings agency downgraded its US credit rating today despite Washington’s resolution of the debt ceiling deadlock, warning that the fundamentals for a potential default remained “unchanged”. Dagong lowered its ratings for US local and foreign currency credit from A to A-, maintaining a negative outlook, the agency said in a statement. The announcement comes after the US Congress passed and President Barack Obama signed a bill that extends the nation’s borrowing authority and ends a two-week government shutdown. | |||||||
| The Labor Department reports new applications for unemployment benefits fell by 15,000 to 358,000 last week. Economists expected a drop to 335,000 from 373,000. The report does not include furloughed government employees, who can seek temporary benefits under a separate program. Jobless claims surged to a six-month high two weeks ago because of California’s computer-system problems and private-sector layoffs at companies that rely on government contracts. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.france24.com/en/20131017-chinese-agency-downgrades-us-credit-rating | |||||||
| http://www.marketwatch.com/story/us-jbbless-claims-drop-15000-to-358000-2013-10-17 | |||||||
| For today’s Market Update Report click to listen-> | |||||||