| The KUIK Market Update for Thursday, July 24: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 5 | points | 17,092 | 7:58 AM | ||
| S&P500 | Up | 0.1% | percent | 1,988 | 1.11 | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,470 | (3.59) | ||
| 30 Year Treasury | Up | 5 | Basis Points | 3.30 | Annual Yield | ||
| The Labor Department reports initial claims for unemployment benefits fell by 19,000 to 284,000 in the week end July 19. That is the lowest level since February 2006,. Economists expected 310,000. but they added a note of caution , saying that there may be seasonal adjustment problems because of temporary shutdowns in the auto industry and elsewhere. Continuing claims for the week ended July 12 dropped by 8,000 to a seasonally adjusted 2.5 million — the lowest level since June 2007. | |||||||
| Freddie Mac reports the 30-year fixed-rate mortgage averaged 4.13% in the week ending July 24, unchanged on the week and just above the low of the year. The 30-year hit a 2014 low of 4.12% in the week ending July 3. The 15-year fixed-rate mortgage averaged 3.26%, up from 3.23%. | |||||||
| The Commerce Department reports that sales of new single-family homes fell 8.1% in June to a seasonally adjusted annual rate of 406,000, with drops across the country. June’s result missed expectations. Economists forecast a rate of 475,000, down from an original estimate of 504,000 for May that was revised downward to 442,000. New-home sales in June were down 11.5% from a year earlier. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-lowest-in-more-than-eight-years-2014-07-24 | |||||||
| http://www.marketwatch.com/story/30-year-fixed-rate-mortgage-stays-at-413-freddie-mac-2014-07-24 | |||||||
| http://www.marketwatch.com/story/new-home-sales-hit-three-month-low-2014-07-24?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||