| The KUIK Morning Market Report for Monday, July 8: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | ||
| Dow | Up | 102 | points | 15,238 | 6:59 AM | ||
| S&P500 | Up | 0.59% | percent | 1,642 | |||
| Nasdaq Composite | Up | 0.29% | percent | 3,489 | |||
| 30 Year Treasury | Down | (2) | Basis Points | 3.65 | Annual Yield | ||
| Citigroup cut its economic growth forecasts for China, citing downside risks to growth from “policy missteps.” The brokerage cut China’s gross domestic product growth to 7.4% from 7.6% in 2013, and to 7.1% from 7.3% in 2014. In a note, it said “The recent episode in the interbank market highlights the lack of communication with the market and possibly coordination between government agencies.” | |||||||
| 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. | |||||||
| The ICE dollar index which measures the U.S. unit against six other major currencies, is at 84.328. That’s just below a three-year high, as investors keep a close eye on bond yields and expectations the Federal Reserve will begin to slow stimulus to the economy later this year. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/citi-cuts-china-gdp-growth-view-for-2013-2014-2013-07-08 | |||||||
| http://www.marketwatch.com/story/dell-leads-tech-gains-facebook-microsoft-advance-2013-07-08?dist=markets | |||||||
| http://www.marketwatch.com/story/dollar-index-holds-3-year-high-on-stimulus-view-2013-07-07?dist=markets | |||||||
| For today’s Morning Market Report click to listen-> | |||||||