Market Update Report 9/20/2013

The KUIK Market Update for Friday, September 20:
Markets are mixed.
Index Direction Change Units Last Time Change
Dow Down                    (23) points           15,615 7:43 AM
S&P500 Unchanged 0.00% percent             1,722             0.04
Nasdaq Composite Up 0.24% percent             3,799             9.19
30 Year Treasury Down                      (1) Basis Points               3.79 Annual Yield
Retail gasoline prices fell below $3.50 a gallon for the first time in more than two months,  according to AAA.  Prices have dropped because of less worries about a military strike on Syria and a switchover to less-expensive winter gasoline blends. U.S. stockpiles of gasoline are running 10% higher than a year ago.
The Federal Reserve could begin to slow asset purchases at its October meeting depending on economic data, said St. Louis Fed President James Bullard today Bloomberg Television. 
The House yesterday narrowly passed a bill to cut spending on food stamps, setting up a battle with the Senate, which backs far smaller cuts. The 217-210 vote fell along party lines, with no Democrats backing the measure and only 15 Republicans opposing it. The bill would cut nearly $40 billion over 10 years, or about 5% in expected spending, from the Supplemental Nutrition Assistance Program.  The Senate has called for a cut of about $4 billion to the programs over 10 years. About 48 million Americans received food-stamp benefits last year. 
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://blogs.marketwatch.com/energy-ticker/2013/09/19/retail-gas-drops-under-3-50-for-first-time-in-two-months/
http://www.marketwatch.com/story/bullard-taper-possible-in-october-2013-09-20
http://www.marketwatch.com/story/food-stamp-vote-sets-up-showdown-in-congress-2013-09-20
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