| The KUIK Market Update for Thursday, December 19: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (25) | points | 16,143 | 7:41 AM | ||
| S&P500 | Down | -0.34% | percent | 1,805 | (6.09) | ||
| Nasdaq Composite | Down | -0.40% | percent | 4,054 | (16.27) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.90 | 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%. | |||||||
| 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. | |||||||
| The National Association of Realtors reports sales of existing homes slumped 4.3% in November, a third month of declines, to a seasonally adjusted annual rate of 4.9 million, on higher mortgage rates and low inventory. | |||||||
| The average rate for a 30-year fixed-rate mortgage rose to 4.47% in the week that ended Dec. 19 from 4.42% the week before according to Freddie Mac. A year ago, the 30-year rate was at 3.37%. The average for the 15-year fixed rose to 3.51% from 3.43%. | |||||||
| 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/existing-home-sales-fall-43-in-november-2013-12-19 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-447-2013-12-19-1091011 | |||||||
| For today’s Market Update Report click to listen-> | |||||||