| The KUIK Morning Market Report for Thursday, May 8: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 59 | points | 16,578 | 7:05 AM | ||
| S&P500 | Up | 0.4% | percent | 1,886 | 7.69 | ||
| Nasdaq Composite | Up | 0.5% | percent | 4,087 | 19.63 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.40 | Annual Yield | ||
| The Labor Department reports the number of people who applied for unemployment benefits last week fell by 26,000 to 319,000 for the lowest level in a month. Economists expected a seasonally adjusted 325,000. However claims often see-saw in April because of Easter and spring break. The average of new claims over the past month rose by 4,500 to almost 325,000. | |||||||
| The euro swung to a loss against the U.S. dollar after European Central Bank President Mario Draghi said he would be “comfortable” easing monetary policy further in June, if needed. In a news conference, Draghi said the strengthening of the exchange rate is cause for “serious concern” in the context of low inflation. | |||||||
| Shares of Tesla Motors are down almost 9%. Yesterday the electric car maker reported first-quarter earnings that beat Wall Street expectations but cast doubt on its near-term outlook. Tesla posted a fiscal first-quarter net loss of $50 million, or 40 cents a share, compared with break-even per-share results a year ago. Analysts had expected the company to earn 8 cents a share on $684 million in sales. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-drop-26000-to-319000-2014-05-08 | |||||||
| http://www.marketwatch.com/story/euro-gains-ahead-of-ecb-decision-draghi-comments-2014-05-08 | |||||||
| http://www.marketwatch.com/story/tesla-continues-to-slump-on-worries-about-outlook-2014-05-08?link=MW_Nav_MA | |||||||
| For today’s Morning Market Report click to listen-> | |||||||