Morning Market Report 10/16/2013 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Wednesday, October 16:

Markets are up on the lack of a shutdown and debt deal.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	172	points	15,339	7:06 AM
S&P500	Up	0.98%	percent	1,715		16.69
Nasdaq Composite	Up	0.90%	percent	3,828		34.18
30 Year Treasury	Up	2	Basis Points	3.80	Annual Yield

Senate leaders restarted talks last night to reopen the government and lift the U.S. debt ceiling after House Republicans’ plans to vote on their proposal fell apart.

Intel surprised investors yesterday with better-than-expected earnings for the third quarter. The company forecast low growth for the fourth quarter, despite new PC devices using the updated Windows 8.1 operating system that are launching in the period. While Intel is growing its data center business and working to get more of its chips into smartphones and tablets, the company still depends on PC sales to drive more than 60% of its revenue base. Many analysts had been expecting a weaker forecast, given the challenging PC market. Intel has pushed out volume production using 14-nanometer technology to the first quarter of 2014. CEO Brian Krzanich on the said thatr was due to “defect density issue” that is now fixed.

For the quarter ended Sept. 28, Intel reported net income of $2.95 billion, and 58 cents per share, compared with net income of $2.97 billion, and 58 cents per share, for the same period last year. Revenue was largely flat at $13.5 billion. Analysts expected revenue of 13.5 billion and 53 cents a share. INTC is up 9 cents to $23.49 a share.



Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/house-republicans-work-on-debt-budget-plan-2013-10-15
http://www.marketwatch.com/story/intel-beats-earnings-target-on-flat-sales-2013-10-15?link=mw_storieslike



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