| The KUIK Market Update for Friday, November 16: | |||||||
| Markets are down this morning. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (43) | points | 12,499 | 7:55 AM | ||
| S&P500 | Down | -0.3% | percent | – | N/A | points | |
| Nasdaq Composite | Down | -0.2% | percent | 1,350 | (3.55) | points | |
| 30 Year Treasury | Down | (1) | Basis Points | 2.72 | Annual Yield | ||
| Hostess the maker of Wonder bread and Twinkies, said it will fire more than 18,000 workers and liquidate after a strike stopped operations. Hostess closed three of its 36 plants permanently Nov. 12. The wind-down will close the remaining 33 bakeries and 565 distribution centers. | |||||||
| China may have a bad loan problem. Non-performing loan increased by 22.4 billion yuan ($3.6 billion) in the 3rd quarter, lifting the total pool of bad loans among China’s biggest banks to 478.8 billion yuan, according to figures released Friday by the China Banking Regulatory Commission. About 0.95% of loans issued by the major banks are now classified as non-performing, slightly higher than 0.94% in the 2nd quarter. But economists at Also Sprach Analyst said that the troubled-loan problem dogging Chinese banks is likely much larger than official figures indicate, and China could be setting up for a debt crisis. | |||||||
| Good news for Nike shareholders. The board of Nike yesterday approved a 2-for-1 stock split on both its Class A and Class B common shares. It’s payable in the form of a 100% stock dividend Dec. 24 to stockholders of record as of Dec. 10. The board also declared a post-split quarterly cash dividend of 21 cents a share, thus marking the 11th consecutive year in which Nike has hiked its dividend. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2012-11-16/twinkie-maker-hostess-to-shut-down-after-strike.html | |||||||
| http://blogs.marketwatch.com/thetell/2012/11/16/china-may-be-hiding-bad-loans-just-as-japan-did/ | |||||||
| http://www.marketwatch.com/story/stocks-to-watch-friday-nike-schiff-starbucks-2012-11-16 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||
| Shortlink-> | |||||||