| The KUIK Morning Market Report for Monday, January 13: | |||||||
| Markets are down slightly. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (5) | points | 16,428 | 7:07 AM | ||
| S&P500 | Down | -0.03% | percent | 1,842 | (0.62) | ||
| Nasdaq Composite | Down | -0.02% | percent | 4,174 | (0.84) | ||
| 30 Year Treasury | Down | (0) | Basis Points | 3.79 | Annual Yield | ||
| A Goldman Sachs analyst says stocks are looking overvalued. David Kostin writes that the current price-to-earnings multiple on the S&P 500 is about as high as it can get unde rcurrent conditions, both as measured by the index (15.9 times) and the median stock (16.8 times). Since stocks surged higher in 2013, Kostin doesn’t see the ratio widening to 17 or 18 times, as “many investors expect”. Rather, a continued rally in stocks will hinge on profit growth. When inflation is considered, the S&P500 looks slightly overvalued and he believes it will only have a 3% gain by the end of the year. | |||||||
| February crude fell 0.7%, to $92.08 a barrel on the New York Merc. Iran and six world powers agreed on steps to implement the agreement to cap Tehran’s nuclear program in return for easing sanctions against Iran, following up on an agreement reached in late November. | |||||||
| It’s a heady time for marijuana supporters, as 20 states have relaxed laws relating to it’s medical or recreational use. But the New York Times reports that banks are wary of opening accounts for the legal dispensers. Using a credit card to buy pot, on the other hand, is doable according to the Wall Street Journal. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://blogs.marketwatch.com/thetell/2014/01/13/goldmans-kostin-stocks-are-starting-to-look-overvalued/ | |||||||
| http://www.marketwatch.com/story/oil-slips-but-natural-gas-surges-2014-01-13?dist=markets | |||||||
| http://blogs.marketwatch.com/thetell/2014/01/13/financial-news-roundup-banks-dont-want-marijuana-money-even-the-legal-kind/ | |||||||
| For today’s Morning Market Report click to listen-> | |||||||