Market Update Report 4/24/2014

April 24, 2014
The KUIK Market Update for Thursday, April 24:
Markets are mixed.
Index Direction Change Units Last Time Change
Dow Down                    (15) points           16,487 7:56 AM
S&P500 Up 0.0% percent             1,876             0.11
Nasdaq Composite Up 0.1% percent             4,132             4.78
30 Year Treasury Up                       1 Basis Points               3.48 Annual Yield
Initial jobless claims jumped by 24,000 to a seasonally adjusted 329,000 in the seven days ended April 19, according to the Labor Department. That’s the highest level since the end of March.  Economists expected a rise to 315,000 from last week’s revised 305,000.  Continuing claims decreased by 61,000 to a seasonally adjusted 2.68 million in the week ended April 10. That’s the lowest level since December 2007
The average rate for a 30-year fixed-rate mortgage rose to 4.33% in the week ended April 24 from 4.27% the week before, according to Freddie Mac. A year ago, the 30-year rate was at 3.40%. The average rate for the 15-year fixed-rate  rose to 3.39% from 3.33%.
 Russian stocks fell, taking global markets with them on tensions between Russia and Ukraine. Extending earlier losses, Russia’s blue-chip MICEX index dropped 2.5% to 1,295.66. Media reported Russia’s defense minister Sergey Shoigu as saying his country has begun extensive military exercises in the Ukrainian border area. That comes after earlier reports of least five pro-Russian activists have been killed in clashes with Ukrainian forces as Kiev resumed its “anti-terrorist” operation in the east of the country.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-jump-24000-to-329000-2014-04-24-81034625
http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-433-2014-04-24-109102
http://www.marketwatch.com/story/russian-stocks-slide-as-ukraine-tensions-escalate-2014-04-24?dist=markets
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