| The KUIK Market Update for Monday, June 10: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 13 | points | 15,262 | 7:53 AM | ||
| S&P500 | Up | 0.18% | percent | 1,646 | 2.95 | points | |
| Nasdaq Composite | Up | 0.32% | percent | 3,480 | 11.15 | points | |
| 30 Year Treasury | Up | 5 | Basis Points | 3.37 | Annual Yield | ||
| Standard & Poor’s revised its long-term outlook on its U.S. credit rating to stable from negative. S&P downgraded the government debt rating to AA+ from its top rating of AAA in 2011. The rating agency cited economic strength and the dollar’s status as a reserve currency as the primary drivers of the outlook revision. S&P said the country has less than a one-in-three chance of another downgrade in the near-term. | |||||||
| The Conference Board’s Employment trends index edged up to 111.76 from 111.11 in April. Although that’s 3% higher compared to a year ago, the index is still well below its pre-recession peak of nearly 125. In a statement, the Conference Board’s chief economist said that taken together with other recent indicators of economic activity, the index is suggesting that a significant improvement in employment growth is unlikely this summer. | |||||||
| The dollar strengthened and gold dropped on that credit upgrade from S&P. August gold dropped $ 1.50 to $1,381.50 an ounce on the New York Merc. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/sp-revises-us-outlook-to-stable-from-negative-2013-06-10 | |||||||
| http://www.marketwatch.com/story/us-hiring-trends-index-rises-slightly-in-may-2013-06-10 | |||||||
| http://www.marketwatch.com/story/gold-edges-lower-after-sp-revises-us-outlook-2013-06-10?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||