Market Update Report 5/6/2013

The KUIK Market Update for Monday, May 6:
Markets are mixed this morning.
Index Direction Change Units Last Time Change
Dow Up                       26 points             14,948 8:05 AM
S&P500 Up 0.02% percent               1,615               0.33 points
Nasdaq Composite Up 0.18% percent               3,385               6.17 points
30 Year Treasury Down                      (0) Basis Points               2.96 Annual Yield
Intel was upgraded by RBC Capital to outperform from sector perform, which cited the chip giant’s potential in mobile and the “all-time low sentiment in PCs.”  Shares of Intel rose about 1% to $24.15 at the opening bell. Last week, Intel named Brian Krzanich as its new chief executive officer.
Changes to the mortgage markets are coming.  The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac won’t be able to buy interest-only   loans, loans with 40-year terms, or those with points and fees in excess of the thresholds established by the Consumer Financial Protection Bureau’s   “qualified mortgage” rule.  The changes take effect January 10, 2014.
Crude-oil futures inched lower, pulling back after last week’s nearly 3% gain but finding support on Middle East violence.  June Crude fell 0.4%, to $95.28 a barrel on the New York Merc.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://stream.marketwatch.com/story/markets/SS-4-4/SS-4-29828/
http://www.marketwatch.com/story/fhfa-to-limit-fannie-freddie-to-qualified-loans-2013-05-06
http://www.marketwatch.com/story/oil-prices-extend-rally-trade-above-96-2013-05-06
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