| The KUIK Morning Market Report for Thursday, December 19: | |||||||
| Markets are down after yesterday’s big up day. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (26) | points | 16,145 | 6:59 AM | ||
| S&P500 | Down | -0.30% | percent | 1,805 | (5.42) | ||
| Nasdaq Composite | Down | -0.34% | percent | 4,056 | (13.82) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.89 | Annual Yield | ||
| Yesterday, the Federal Reserve voted to cut $10 billion a month from its $85 billion bond-buying program, starting in January. The central bank also indicated it will keep the key fed funds rate near zero well past the time that the unemployment rate declines below 6.5%. Markets had a strong move, with the Dow ending up 293 points. | |||||||
| The Labor Department reports initial claims for unemployment benefits climbed by 10,000 to 379,000 in the week ended Dec. 14. That’s the highest level since late March, but it could be typical holiday-season ups and downs. Economists expected a drop to a seasonally adjusted 338,000. Continuing claims–people already receiving benefits rose 94,000 to a seasonally adjusted 2.9 million in the week ended Dec. 7. | |||||||
| That Federal Reserve announcement and sellingin Asia. February gold fell 2.6%, at $1,202.10 an ounce in early Europe trading. The contract hit a low of $1,198 an ounce, trading under that key $1,200 level for the first time since June. March silver was hit even harder, down 3.9%, to $19.28 an ounce. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/fed-cuts-bond-buying-program-to-75-billion-2013-12-18 | |||||||
| http://www.marketwatch.com/story/jobless-claims-rise-to-highest-level-since-march-2013-12-19 | |||||||
| http://www.marketwatch.com/story/gold-dips-as-feds-taper-starts-to-sink-in-2013-12-18 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||