The KUIK Morning Market Report for Friday, May 24: |
Markets are down. |
Index |
Direction |
Change |
Units |
Last |
Time |
Change |
|
Dow |
Down |
(59) |
points |
15,235 |
6:58 AM |
|
|
S&P500 |
Down |
-0.6% |
percent |
1,641 |
|
(9.54) |
points |
Nasdaq Composite |
Down |
-0.6% |
percent |
3,439 |
|
(20.00) |
points |
30 Year Treasury |
Down |
(2) |
Basis Points |
3.18 |
Annual Yield |
|
|
|
The Commerce Department reported orders for durable goods rose 3.3% in April to a seasonally adjusted $222.6 billion after a revised 5.9% drop in March. Economists polled by MarketWatch expected a 1.4% increase. If we leave out the volatile transportation sector, orders rose a smaller 1.3% but demand was still broad based. Almost every sector reported higher orders. |
Business confidence in Germany rose more than expected in May, with the Ifo business-climate index climbing to 105.7 points from 104.4 in April, German stocks moved slightly higher after the data, with the DAX 30 index up 0.2%. |
|
Tech stocks are mostly down this morning. Saleforce.com leading the drop despite an 8% jump in Pandora shares. Salesforce.com fell more than 7% at the open, after the cloud software company reported a deeper net loss for the first fiscal quarter, as higher expenses crimp profit margins. |
|
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. |
|
http://www.marketwatch.com/story/durable-goods-orders-snap-back-in-april-2013-05-24 |
http://www.marketwatch.com/story/german-business-confidence-rises-in-may-reports-2013-05-24 |
|
http://www.marketwatch.com/story/salesforcecom-leads-techs-down-pandora-jumps-2013-05-24 |
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For today’s Morning Market Report click to listen-> |
[audio https://beaconrwa.com/audio/Morning-Market-Report.mp3] |