| The KUIK Market Update for Thursday, August 21: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 70 | points | 17,049 | 7:50 AM | ||
| S&P500 | Up | 0.2% | percent | 1,991 | 4.65 | ||
| Nasdaq Composite | Down | 0.0% | percent | 4,526 | (0.17) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.21 | Annual Yield | ||
| The Labor Department report new applications for unemployment benefits fell by 14,000 to 298,000 in the week that ended August 16. Economists expected 300,000. Continuing claims fell by 49,000 to a seasonally adjusted 2.5 million in the week ended August 9th. | |||||||
| Freddie Mac reports the average rate for a 30-year fixed-rate mortgage fell to 4.10% in the week that ended today. That’s the lowest rate since late October 2013, down from 4.12% last week. A year ago, the 30-year rate was at 4.58%. The average rate for the 15-year fixed-rate mortgage fell to 3.23% down from 3.24% last week. | |||||||
| The August reading of the Philadelphia Fed index jumped to 28 up from 23.9 in July, for the highest level since March 2011. Economists expected 18. Readings above zero indicates improving conditions. The gains for index came despite slowdowns in both new orders and shipments. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-fall-by-14000-to-298000-2014-08-21-891301 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-declines-to-410-2014-08-21-9915957 | |||||||
| http://www.marketwatch.com/story/aug-philly-fed-index-hits-28-best-reading-since-march-2011-2014-08-21 | |||||||
| For today’s Market Update Report click to listen-> | |||||||