| The KUIK Morning Market Report for Friday, May 10: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 2 | points | 15,084 | 6:59 AM | ||
| S&P500 | Up | 0.19% | percent | 1,630 | 3.02 | points | |
| Nasdaq Composite | Up | 0.42% | percent | 3,423 | 14.23 | points | |
| 30 Year Treasury | Up | 5 | Basis Points | 3.05 | Annual Yield | ||
| Federal Reserve Chairman Ben Bernanke on Friday said the U.S. central bank is closely monitoring the risks from excessive risk-taking with interest rates so low. Bernanke identified “reaching for yield” as well as the threat of a run in money-market funds and the possibility that short-term wholesale markets could dry up in a crisis. | |||||||
| European stock markets were on track to reach fresh 2013 highs, keying off gains in Asia, where Japanese shares jumped after the U.S. dollar climbed above the 100-yen level for the first time in four years. The Stoxx Europe 600 index traded 0.3% higher at 304.63, putting it on track for a fourth straight gain. | |||||||
| Treasury Secretary Jack Lew said in an interview that the debt ceiling will not be hit until September, though Congress shouldn’t relax. Ahead of a meeting in London of Group of Seven central bank governors and finance ministers, Lew said the U.S. economy is growing, and while this is encouraging, it was still “not sufficient”. He has a particular concern over the disparity between long and short-term unemployment. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/bernanke-fed-monitoring-reaching-for-yield-2013-05-10 | |||||||
| http://www.marketwatch.com/story/europe-stocks-nudge-fourth-day-of-gains-2013-05-10 | |||||||
| http://www.marketwatch.com/story/treasurys-lew-debt-ceiling-safe-until-sept-2013-05-10 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||