| The KUIK Market Update for Wednesday, September 11: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 41 | points | 15,232 | 8:27 AM | ||
| S&P500 | Down | -0.09% | percent | 1,682 | (1.56) | ||
| Nasdaq Composite | Down | -0.39% | percent | 3,715 | (14.39) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.88 | Annual Yield | ||
| Apple shares fell 5.5% to $467 per share on rating downgrades from three Wall Street analysts. The company unveiled two new iPhone models yesterday, but analysts are concerned that the lower-priced model could be too expensive for a large volume of sales. | |||||||
| Today is the first day of the new Dow Jones Industrial Average. BankofAmerica, Alcoa, and Hewlett-Packard were removed, and replaced with Goldman Sachs, Visa and Nike. | |||||||
| Bloomberg reports a former Fed economist says there may another wave of productivity gains from the internet. The U.S. may be in “a pause period between the PC era and what comes next, with hand-held devices, massive connectivity and big data,” said Daniel Sichel, now a professor of economics at Wellesley College in Massachusetts. A second stage in innovation could lift the long-run trend growth rate of non-farm business productivity to about 2.5 percent. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/apple-shares-fall-as-analysts-react-to-new-iphones-2013-09-11 | |||||||
| http://www.marketwatch.com/story/getting-booted-from-dow-a-blessing-2013-09-10 | |||||||
| http://www.bloomberg.com/news/2013-09-11/talking-windmills-portend-gust-of-productivity-growth-in-u-s-.html | |||||||
| For today’s Morning Market Report click to listen-> | |||||||