| The KUIK Morning Market Report for Thursday, August 28: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (70) | points | 17,052 | 7:11 AM | ||
| S&P500 | Down | -0.3% | percent | 1,994 | (5.87) | ||
| Nasdaq Composite | Down | -0.3% | percent | 4,556 | (13.99) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.07 | Annual Yield | ||
| Initial claims for unemployment benefits edged down by 1,000 to 298,000 in the week ended August 23 and remain near an eight-year low, according to the Labor Department. Economists expected 300,000 on a seasonally adjusted basis. Continuing claims increased by 25,000 to a seasonally adjusted 2.53 million in the week ended August 16. | |||||||
| The National Association of Realtors reports pending home sales rose 3.3% in July to reach the highest level in 11 months. Low mortgage rates, moderating home-price growth, and more homes for sale are all supporting deals. But weakness earlier in the year could drag 2014’s total sales of existing homes below 2013’s. In July, pendings were down 2.1% from a year earlier. | |||||||
| The average rate for a 30-year fixed-rate mortgage remained at 4.10% in the week that ended today, at the lowest rate since late October, according to Freddie Mac FMCC, -A year ago, the 30-year rate was at 4.51%. The average rate for the 15-year fixed-rate mortgage rose to 3.25% in the latest week up from 3.23% last week. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-remain-low-at-298000-2014-08-28 | |||||||
| http://www.marketwatch.com/story/pending-home-sales-climb-33-in-july-to-reach-11-month-high-2014-08-28-9915958?link=MW_Nav_EP | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-remains-at-10-month-low-2014-08-28 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||