| The KUIK Market Update for Tuesday, September 3: | |||||||
| Markets are up on the delay of military action in Syria but are down from their opening highs. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 92 | points | 14,904 | 7:40 AM | ||
| S&P500 | Up | 0.95% | percent | 1,649 | 15.58 | ||
| Nasdaq Composite | Up | 1.13% | percent | 3,630 | 40.48 | ||
| 30 Year Treasury | Up | 14 | Basis Points | 3.81 | Annual Yield | ||
| Microsoft is buying most of Nokia. The companies said yesterday that Microsoft will pay 3.79 billion euros ($5 billion) to buy “substantially all” of the Nokia business, which includes its smartphone operations. Microsoft will also pay 1.65 billion euros to license Nokia’s patents. Stephen Elop, Nokia’s CEO, and several other executives are joining Microsoft as part of the deal. Elop previously workded for Microsoft. His name is being circulated as possible successor to Steve Ballmer’s who recently announced thathe will retire as CEO within a year, or when the next CEO is chosen. | |||||||
| The Institute for Supply Management index rose to 55.7% from 55.4% in July, the highest reading in two years. Economists expected a dip to 54.1%. Reading over 50 indicate more manufacturers are expanding instead of contracting. The ISM’s new-orders gauge surged to 63.2% from 58.3%, but the production index fell to 62.4% from 65% and the employment gauge slipped 1.1 percentage points to 53.3% | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/microsoft-agrees-to-buy-nokias-devices-unit-2013-09-03?siteId= | |||||||
| http://www.marketwatch.com/story/august-ism-manufacturing-index-rises-to-557-2013-09-03?dist=lcountdown | |||||||
| For today’s Morning Market Report click to listen-> | |||||||