| The KUIK Market Update for Wednesday, January 9: | |||||||
| Markets are up at this hour. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 70 | points | 13,399 | 8:05 AM | ||
| S&P500 | Up | 0.4% | percent | 1,463 | 5.75 | points | |
| Nasdaq Composite | Up | 0.5% | percent | 3,106 | 15.35 | points | |
| 30 Year Treasury | Down | (0) | Basis Points | 3.07 | Annual Yield | ||
| U.S. consumers debt in November for auto purchases and student loans, but didn’t put much on their credit cards. Consumer credit rose by a seasonally adjusted $16.1 billion in November, marking the second straight big gain according to the Federal Reserve. In October, consumers racked up $14.0 billion in additional debt. Adding debt is a sign of optimism about the economy. | |||||||
| Tech stocks edged higher led by social networkers LinkedIn and Facebook. Facebook yesterday sent invites to the media for an event at its headquarters sparking speculation about a major announcement. Shares of LinkedIn also jumped more than 1% after the professional networking site announced it has more than 200 million members. | |||||||
| Bloomberg announced that Morgan Stanley, the sixth-largest U.S. bank by assets, plans to eliminate about 1,600 jobs which is 6% of its workforce from its investment bank and support staff in coming weeks. Half the losses will be in the US and the other half will be in its international division. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/americans-add-debt-but-not-with-credit-card-2013-01-08 | |||||||
| http://www.marketwatch.com/markets?link=MW_Nav_MA | |||||||
| http://www.bloomberg.com/news/2013-01-09/morgan-stanley-said-to-plan-1-600-investment-banking-job-cuts.html | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||