| The KUIK Market Update for Monday, March 25: | |||||||
| Markets opened strongly but have now given back their gains. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (17) | points | 14,495 | 7:42 AM | ||
| S&P500 | Up | 0.11% | percent | 1,559 | 1.70 | points | |
| Nasdaq Composite | Up | 0.09% | percent | 3,248 | 2.85 | points | |
| 30 Year Treasury | Up | 2 | Basis Points | 3.16 | Annual Yield | ||
| Cyprus got its bailout. The cash-strapped island nation struck a bargain with the European Central Bank, the European Commission, and the International Monetary Fund to securing 10 billion euros ($13 billion) in financing to save its banks. Uninsured accounts larger than 100,000 euros will take a 40% haircut. As part of the agreement, there will be a deep restructuring of the two largest banks as well as a downsizing of the overall banking sector. Russians have $31 billion in deposits in Cyprus. | |||||||
| The Securities and Exchange Commission has approved Nasdaq’s plan to distribute $62 million to those hurt by the botched initial public offering of Facebook. Facebook did its IPO last May 18. It had a delayed debut after the Nasdaq experienced technical problems while trying to get trade confirmations to brokers. | |||||||
| April gold fell nearly 0.9%, to $1,592.30 an ounce after settling at $1,606.10 an ounce on Friday. News of the Cyprus deal push traders toward riskier assets.. Gold hasn’t closed below the $1,600 level since March 15. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/cyprus-lenders-agree-bailout-deal-reports-2013-03-24 | |||||||
| http://www.marketwatch.com/story/sec-approves-nasdaqs-facebook-compensation-plan-2013-03-25-91032836 | |||||||
| http://www.marketwatch.com/story/gold-under-1600-for-first-time-in-over-a-week-2013-03-25?link=MW_Nav_EP | |||||||
| For today’s Morning Market Report click to listen-> | |||||||