| The KUIK Market Update for Monday, March 4: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (31) | points | 14,058 | 7:47 AM | ||
| S&P500 | Down | -0.14% | percent | 1,516 | (2.07) | points | |
| Nasdaq Composite | Down | -0.20% | percent | 3,163 | (6.38) | points | |
| 30 Year Treasury | Down | (1) | Basis Points | 3.06 | Annual Yield | ||
| China is hurting. The Shanghai Composite Index sank 3.7% for its worst percentage drop since August 2011, while the Shenzhen Composite Index fell 3.5%, for its steepest fall since July. The drop came after Beijing imposed measured to cool home prices and hurt Hong Kong developers. The drop came after the State Council, China’s cabinet, on Friday announced restrictions, including higher down-payments and mortgage rates on second homes in cities that have seen steep rises in property prices. The policy moves also include a 20% capital gains tax on existing-home sales. | |||||||
| President Barack Obama on Monday announced a trio of appointments to head federal agencies, naming Sylvia Mathews Burwell to lead the White House’s Office of Management and Budget; Ernest Moniz to head the Energy Department; and Gina McCarthy to lead the Environmental Protection Agency. Burwell currently heads Wal-Mart’s charitable organization; Moniz is a physicist at the Massachusetts Institute of Technology; and McCarthy now serves as head of the EPA’s air and radiation office. All three posts require Senate confirmation. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/japan-stocks-surge-as-asia-shares-sink-2013-03-03 | |||||||
| http://www.marketwatch.com/story/obama-names-energy-budget-epa-chiefs-2013-03-04 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||