| The KUIK Morning Market Report for Friday, August 23: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 9 | points | 14,973 | 6:58 AM | ||
| S&P500 | Up | 0.09% | percent | 1,658 | 1.45 | ||
| Nasdaq Composite | Up | 0.31% | percent | 3,650 | 11.35 | ||
| 30 Year Treasury | Down | (0) | Basis Points | 3.88 | Annual Yield | ||
| Microsoft announced this morning that Steve Ballmer plans to retire within the next 12 months, once the company finds a successor. Ballmer has led the software titan since founder Bill Gates stepped down in 2000. During that time, the size of the business has more than tripled, due mostly to growth of Windows and Office. Howevert the company’s revenue growth has stalled in the last two years, as PC sales have slipped globally due to the rising popularity of smartphones and tablets. Microsoft is up almost 7% to $34.59 a share. | |||||||
| The Federal Reserve is on track to pull back from its $85 billion-a-month asset purchase program by the end of the year, said John Williams, the president of the San Francisco Fed Bank today in an interview on CNBC. He declined to speculate at which meeting the first move would come he said it “depends on the data.” | |||||||
| October crude oil fell 0.3%, to $104.70 a barrel, partly erasing yesterday’s 1.1% rally above the $105 level on the New York Merc as the dollar moved higher on the Fed’s tapering talk. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/microsoft-ceo-steve-ballmer-to-retire-2013-08-23-91033834 | |||||||
| http://www.marketwatch.com/story/feds-williams-taper-on-track-by-year-end-2013-08-23 | |||||||
| http://www.marketwatch.com/story/oil-adds-to-gains-as-stocks-rally-2013-08-22 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||