| The KUIK Market Update for Monday, September 16: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 153 | points | 15,528 | 8:01 AM | ||
| S&P500 | Up | 0.78% | percent | 1,701 | 13.19 | ||
| Nasdaq Composite | Up | 0.28% | percent | 3,732 | 10.31 | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.80 | Annual Yield | ||
| Marketwatch reports U.S. Treasurys rallied, sending yields lower, and the stock market has rallied, after former Treasury Secretary Lawrence Summers pulled out of the running for the chairmanship of the Federal Reserve, stoking expectations the central bank will be slower to wind down its program of bond purchases. | |||||||
| Standard & Poors lowered its outlook on Chicago to negative from stable, citing risks involved in how the city will address its upcoming large pension payments. Chicago’s overall unfunded liability of the four plans is $19.4 billion as of 2012, up from $11.9 billion in 2009. The plans altogether are only 35% funded. S&P affirmed Chicago’s rating A-plus. It said the city has weak budgetary performance as well as weak debt and weak contingent liabilities position. However, Chicago benefits from a broad and diverse economy, given its status as a major regional economic center, and has adequate budget flexibility. | |||||||
| October crude oil fell 1.6%, to $106.52 a barrel in electronic trading on Globex as a deal to prevent a strike on Syria reduced worries about disruptions in oil supplies from the Middle East. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-yields-tumble-as-summers-exits-fed-race-2013-09-16 | |||||||
| http://www.marketwatch.com/story/industrial-production-rises-04-in-august-2013-09-16 | |||||||
| http://www.marketwatch.com/story/oil-falls-on-syria-deal-shrugging-off-weak-dollar-2013-09-16?dist=lcountdown | |||||||
| For today’s Morning Market Report click to listen-> | |||||||