| The KUIK Morning Market Report for Wednesday, March 12: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (67) | points | 16,285 | 7:01 AM | ||
| S&P500 | Down | -0.52% | percent | 1,858 | (9.65) | ||
| Nasdaq Composite | Down | -0.56% | percent | 4,283 | (24.10) | ||
| 30 Year Treasury | Down | (5) | Basis Points | 3.66 | Annual Yield | ||
| Common shares of Fannie Mae and Freddie Mac dropped in early trading, extending yesterday’s drop, when investors sold stock after senators released a blueprint for winding down the federally controlled mortgage buyers. Common shares of Fannie were recently off 17%, while shares of Freddie are down 18%. | |||||||
| The Wall Street Journal reports that PresidentObama is expected to order a rule change this week that would require employers to pay overtime to a larger number of salaried workers. Currently, many businesses aren’t required to pay overtime to certain salaried workers if they earn more than $24,000 a yea, a level set in 2004. The White House is expected to direct the Labor Department to raise that salary threshold, though it is unclear by how much. | |||||||
| April crude oil fell 1.8%, to $98.28 a barrel in electronic trading. The American Petroleum Institute said there was an increase of 2.6 million barrels in U.S. crude supplies for the week ended March 7. Analysts expected an increase of 2.3 million barrels. Inventory figures from the U.S. Energy Information Administration are due later today. Driving the decline is Chinese data showing exports unexpectedly fell 18% last month from the year-earlier period, resulting in a nearly $23 billion February trade deficit. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/fannie-freddie-common-shares-extend-plunge-2014-03-12 | |||||||
| http://www.marketwatch.com/story/obama-plans-to-expand-overtime-eligibility-2014-03-12 | |||||||
| http://www.marketwatch.com/story/crude-falls-on-stronger-than-expected-us-inventories-2014-03-12?link=MW_Nav_EP | |||||||
| For today’s Morning Market Report click to listen-> | |||||||