| This is Bill Roller of BR Capital with the KUIK Closing Market Report for Wednesday, August 1. | |||||||
| Markets were off today. | |||||||
| Direction | Change | Units | Last | Time | |||
| Dow | Down | (33) | points | 12,976 | 2:54 PM | ||
| S&P500 | Down | -0.3% | percent | 1,375 | |||
| Nasdaq Composite | Down | -0.7% | percent | 2,920 | |||
| 30 Year Treasury | Up | 3.7 | basis points | 2.61 | |||
| A cautious Federal Reserve said that the economy was weaker but took no new action to stimulate demand. The lack of policy action was a surprise. Analysts had expected the Fed to push out its pledge to hold its benchmark federal funds rate exceptionally low. Instead, the Fed repeated that it would likely hold that rate steady until late 2014. | |||||||
| All is not bad in social media. Yelp’s stock was up 16% after the online business reviews site reported a narrower-than-forecast loss on a 67% jump in sales. | |||||||
| Always serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/fed-stands-pat-as-it-frets-weaker-economy-2012-08-01?dist=afterbell | |||||||
| http://www.marketwatch.com/story/yelp-expected-to-highlight-after-hours-trades-2012-08-01?dist=afterbell | |||||||
| For today’s Closing Market Report click to listen-> | https://beaconrwa.com/audio/Closing-Market-Report.mp3 | ||||||
| Short Link> | |||||||