June 19, 2014

Morning Market Report 6/19/2014

The KUIK Morning Market Report for Thursday, June 19:
Markets are flat.
Index	Direction	Change	Units	Time	Change
Dow	Up	3.02	points	16,910	7:00 AM
S&P500	Up	0.1%	percent	1,958	1.17
Nasdaq Composite	Down	-0.1%	percent	4,360	(2.78)
30 Year Treasury	Down	(2)	Basis Points	3.40	Annual Yield
The Labor Department reports Initial jobless claims declined by 6,000 to 312,000 in the week ended June 14. Economists expected a seasonally adjusted 310,000. Continuing claims fell by 54,000 to a seasonally adjusted 2.56 million in the week ended June 7.
Chinese Premier Li Keqiang vowed that his nation’s economy will not suffer a hard landing according to the state-run Xinhua News Agency. Li said that the government was taking measures to ensure that gross domestic product grows no slower than an annual rate of 7.5% to ensure jobs are created.
Gold prices extended recent gains, aided by a weaker U.S. dollar after Federal Reserve Chaiman Janet Yellen signaled short-term rates will hold steady for a while longer. August gold is up 1.1%, to $1,287 an ounce. July silver is up 1.3%, to $20.02 an ounce. The dollar fell against other major currencies on the Fed’s chief remarks yesterday. While the Fed did see a slightly faster pace of interest-rate tightening, the market focused on Yellen’s remarks that the recent inflation data is “noisy,” and that there’s uncertainty around every forecast for rate hikes.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-fall-near-post-recession-low-2014-06-19
http://www.marketwatch.com/story/china-premier-vows-no-hard-landing-for-economy-2014-06-18
http://www.marketwatch.com/story/weaker-dollar-iraq-combine-to-boost-gold-2014-06-19?dist=markets
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