| The KUIK Morning Market Report for Monday, March 25: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 45 | points | 14,558 | 7:10 AM | ||
| S&P500 | Up | 0.50% | percent | 1,565 | 7.81 | points | |
| Nasdaq Composite | Up | 0.55% | percent | 3,263 | 18.00 | points | |
| 30 Year Treasury | Up | 3 | Basis Points | 3.17 | 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. | |||||||
| European stocks staged a relief rally Monday, with banks leading, on the Cyrus news. The Stoxx Europe 600 index rose 1% to 296.82, climbing back after a 1.1% loss from last week. | |||||||
| 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/banks-drive-gains-for-europe-after-cyprus-deal-2013-03-25 | |||||||
| For today’s Morning Market Report click to listen-> |
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