| The KUIK Market Update for Monday, July 8: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | ||
| Dow | Up | 115 | points | 15,251 | 7:50 AM | ||
| S&P500 | Up | 0.69% | percent | 1,643 | |||
| Nasdaq Composite | Up | 0.28% | percent | 3,489 | |||
| 30 Year Treasury | Down | (3) | Basis Points | 3.64 | Annual Yield | ||
| Tech stocks started the week on an upbeat note, with Dell among the advancers. Dell shares rose 2.2%, to $13.32, after the investment advisory firm ISS recommended Dell’s shareholders vote to approve a $24.4 billion plan led by Chief Executive Michael Dell to take the PC company private. Other gains came from Microsoft, Facebook, and Priceline.com. | |||||||
| Intel leads a downswing in the chip sector this morning following a bearish note on the group from Citigroup. In a report, analyst Glen Yeung cut his estimates on Intel and took Qualcomm off the broker’s Top Pick’s list, citing saturation in the high-end smartphone market. Regarding Intel, Yeung wrote that despite the company’s efforts to get into more mobile products, “we find it difficult to believe Intel shares will breakout to the upside in light of the poor PC environment and negative estimate revisions,” maintaining a hold rating on the stock. Intel shares are down 2.8% while AMD is offl 1.8% and Qualcomm down by 0.7%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/dell-leads-tech-gains-facebook-microsoft-advance-2013-07-08?dist=markets | |||||||
| http://www.marketwatch.com/story/intel-leads-chip-stocks-down-on-bearish-citi-note-2013-07-08?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||