| The KUIK Market Update for Thursday, May 22: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 26 | points | 16,559 | 8:01 AM | ||
| S&P500 | Up | 0.3% | percent | 1,893 | 5.35 | ||
| Nasdaq Composite | Up | 0.5% | percent | 4,154 | 22.37 | ||
| 30 Year Treasury | Up | 1 | Basis Points | 3.42 | Annual Yield | ||
| The Labor Department reports the number of people who applied for new unemployment benefits climbed by 28,000 to 326,000 in the week ended May 17, wiping out the prior week’s drop. The level of claims is near near a post-recession low, a sign that companies are cutting the fewest workers since the recession ended in mid-2009. Economists expected 315,000 on a seasonally adjusted basis. | |||||||
| Sales of existing homes rose 1.3% in April to a seasonally adjusted annual rate of 4.65 million, according to the National Association of Realtors . Economists expected 4.66 million, up from March’s 4.59 million. The median sales price of used homes hit $201,700 in April, up 5.2% from April of 2013, supported by low inventory. | |||||||
| The average rate for a 30-year fixed-rate mortgage fell to 4.14% in the week that ended today down form 4.2% last week according to Freddie Mac. This is the lowest rate since the end of October. A year ago, the 30-year rate was at 3.59%. The average rate for the 15-year fixed fell to 3.25% down from 3.29%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-climb-28000-to-326000-2014-05-22 | |||||||
| http://www.marketwatch.com/story/existing-home-sales-rise-13-in-april-2014-05-22 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-drops-to-414-2014-05-22-109105 | |||||||
| For today’s Market Update Report click to listen-> | |||||||