| The KUIK Morning Market Report for Monday, December 2: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (31) | points | 16,054 | 7:06 AM | ||
| S&P500 | Down | -0.05% | percent | 1,805 | (0.88) | ||
| Nasdaq Composite | Down | -0.05% | percent | 4,058 | (2.21) | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.83 | Annual Yield | ||
| Markit reports U.S. manufacturing accelerated to a ten-month high in November, according to the final purchasing managers index. The manufacturing PMI rose to 54.7, above the initial estimate of 54.3 and better than October’s 51.8. Output, new orders, new export orders, backlogs, output prices, and quantity of purchases all saw accelerating growth. | |||||||
| The U.S. Supreme Court stayed out of the multibillion-dollar fight over Internet sales taxes, leaving intact a New York law that forces Amazon.com to collect money from customers in that state. The justices today rejected appeals by Amazon and Internet retailer, Overstock.com which said New York is violating the Constitution by demanding tax collection from companies that don’t have facilities in the state. New York’s top court upheld the state law. | |||||||
| Bank of America said it reached a settlement with Freddie Mac to resolve claims stemming from residential mortgage loans the bank sold to Freddie. The bank plans to pay Freddie Mac about $404 million to resolve all outstanding and potential mortgage repurchase and other claims related to loans sold to Freddie from 2000 to 2009, and to compensate Freddie for some past losses and potential future losses. The payments are fully covered by existing reserves, the bank said. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-manufacturing-pmi-reaches-10-month-high-2013-12-02 | |||||||
| http://www.bloomberg.com/news/2013-12-02/amazon-rejected-by-u-s-high-court-on-new-york-sales-tax.html | |||||||
| http://www.marketwatch.com/story/b-of-a-in-404-mln-settlement-with-freddie-mac-2013-12-02 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||