| The KUIK Market Update for Thursday, May 1: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (5) | points | 16,575 | 7:47 AM | ||
| S&P500 | Up | 0.0% | percent | 1,885 | 0.64 | ||
| Nasdaq Composite | Up | 0.4% | percent | 4,131 | 16.64 | ||
| 30 Year Treasury | Down | (3) | Basis Points | 3.43 | Annual Yield | ||
| The Labor Department reported the number of initial claims in the week ending April 26 rose 14,000 to 344,000, which is the highest level since the end of February. That was a surprise. Wall Street expected claims to fall to 320,000. | |||||||
| The average rate for a 30-year fixed-rate mortgage fell to 4.29% in the week that ended May 1 down from 4.33% last week, according to Freddie Mac. A year ago, the 30-year rate was at 3.35%. The average rate for the 15-year fixed fell to 3.38% from 3.39% last week. | |||||||
| The Institute for Supply Management said its manufacturing index rose to 54.9% last month from 53.7% in March, marking the highest level since December. That was higher than the 54.4% forecast of economists. Readings over 50% indicate more companies are expanding instead of contracting. The employment gauge jumped 3.6 points to 54.7% – also the highest level since December. The ISM’s new-orders index was flat at still-strong 55.1%, while production dipped to 55.7% from 55.9%. Seventeen of the 18 industries tracked by ISM reported growth last month. The only one to record a decline were makers of nonmetallic mineral products. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-jump-for-second-week-2014-05-01 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-declines-to-429-2014-05-01-1091018 | |||||||
| http://www.marketwatch.com/story/ism-manufacturing-index-climbs-to-549-in-april-from-537-2014-05-01 | |||||||
| For today’s Market Update Report click to listen-> | |||||||