In the week ending October 1, the advance figure for seasonally adjusted initial claims for unemployment insurance was 249,000, a decrease of 5,000 from the previous week’s unrevised level of 254,000, the Department of Labor (DOL) reported. The four-week moving average was 253,500, a decrease of 2,500 from the previous week’s unrevised average of 256,000. This is the lowest level for this average since December 8, 1973, when it was 252,250.

The average interest rate for a 30-year fixed-rate mortgage is 3.42%, unchanged from one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.72%, also unchanged. 

Thursday, the Dow closed 12.53 points (0.07%) lower at 18,268.50, the NASDAQ decreased 9.17 points (0.17%) to 5,306.85, and the S&P 500 increased by 1.04 (0.05%) to 2,160.77. The Russell 2000 was down 2.14 points (0.17%) at 1,246.23, and the Wilshire 5000 closed 11.34 points (0.05%) higher at 22,505.51.

On the NYSE, 3.1 billion shares traded, with a slight lead for declining issues. On the NASDAQ, 2.9 billion shares changed hands, with 3 decliners for every 2 advancers.

The price of the 10-year Treasury note decreased 10/32, bringing its yield up to 1.738%. The price of the 30-year Treasury bond fell 19/32, increasing its yield to 2.456%. 

ON THIS DATE: In 1765, nine American colonies sent a total of 28 delegates to New York City for the Stamp Act Congress. The delegates adopted the “Declaration of Rights and Grievances.” In 1777, during the American Revolution the second Battle of Saratoga began. In 1868, Cornell University was inaugurated in Ithaca, New York. In 1913, for the first time, Henry Ford’s entire Highland Park automobile factory was run on a continuously moving assembly line when the chassis was added to the process. In 1949, the German Democratic Republic (East Germany) was formed. In 1950, the U.S.-led U.N. forces crossed the 38th parallel and entered North Korea. In 1963, U.S. President John F. Kennedy signed a nuclear test ban treaty with Britain and the Soviet Union. In 1968, the Motion Picture Association of America adopted the film-rating system that ranged for “G” to “X.” In 1994, U.S. President Bill Clinton dispatched an aircraft carrier to the Persian Gulf when Iraqi troops were spotted moving toward Kuwait. The U.S. Army was also put on alert. In 1998, the U.S. government filed an antitrust suit that alleged Visa and MasterCard inhibit competition by preventing banks from offering other cards. In 2001, the U.S. and Great Britain began airstrikes in Afghanistan in response to that state’s support of terrorism and Osama bin Laden. The act was the first military action taken in response to the terrorist attacks on the U.S. on September 11, 2001. In 2003, in California, Arnold Schwarzenegger was elected governor in the recall election of Governor Gray Davis. In 2003, Randy Quaid received a star on the Hollywood Walk of Fame. In 2004, Billy Bob Thornton got a star on the Hollywood Walk of Fame.

And now it’s time for FRIDAY FILES! 

In Philadelphia, Pennsylvania, motorists reported they saw a man pedaling down the middle of a road on a big-wheeled tricycle. One motorist told a local TV station the tricycle was holding up traffic as cars gingerly drove around the pedaling man. Police are trying to figure out who the man is, what he was up to and whether he might be cited for the incident.

In Reading, Ohio, a woman made an excuse for being late for work that put her in hot water. The 18-year-old said someone dressed like a clown jumped a fence, waved a knife at her and cut her thumb. According to a local news station, police say investigators found inconsistencies in her story and charged her with making a false alarm, a misdemeanor.

In Harrison Township, New Jersey, a woman had something other than grief on her mind after her boyfriend was struck and killed by a car. According to the local ABC News station, the woman had been allowed to sit in the ambulance “in order to grieve the loss of her boyfriend and stay out of the inclement weather.” The medic contacted police later in the day after realizing her wallet was missing from her purse, which was located in the center console of the ambulance she was working in. The woman was arrested and allegedly admitted to stealing the wallet. It was returned to the medic, though it was missing $120 in cash.

Have a wonderful weekend!