| The KUIK Morning Market Report for Monday, October 14: | |||||||
| Markets have started the week on the down side. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (65) | points | 15,173 | 7:06 AM | ||
| S&P500 | Down | -0.53% | percent | 1,694 | (8.97) | ||
| Nasdaq Composite | Down | -0.42% | percent | 3,776 | (15.95) | ||
| 30 Year Treasury | Up | 1 | Basis Points | 3.75 | Annual Yield | ||
| Three American were awarded the Nobel Prize in economics today by the The Royal Swedish Academy of Sciences in Stockholm. Eugene Fama and Lars Peter Hansen of the University of Chicago and Robert Shiller of Yale, were honored for their work on analysis of asset prices. Fama’s work on efficient markets let to the creation of index funds, Hansen developed a widely used econometric tool. Shiller did pioneering work on behavior finance, showng that stock prices can move for irrational reasons. | |||||||
| Goldman Sachs chief economist Jan Hatzius in a research notes says that the shutdown could cut GDP by .5% growth to 2%. | |||||||
| As the search for a way to end the partial federal shutdown and avoid a debt crisis shifted to the Senate, Democrats stated that one of their priorities was to diminish the next years round of sequester cuts. Many Republicans, including Senate Minority Leader Mitch McConnell (R., Ky.), oppose reducing those cuts. That sets up another clash almost as intense as the one that caused budget talks between House Republicans and President Barack Obama to collapse Friday. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-trio-wins-nobel-prize-in-economics-2013-10-14 | |||||||
| http://blogs.marketwatch.com/capitolreport/2013/10/14/goldmans-jan-hatzius-shutdown-could-cut-gdp-growth-to-2/ | |||||||
| http://www.marketwatch.com/story/new-front-opens-in-us-budget-battle-2013-10-14 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||