| The KUIK Morning Market Report for Friday, March 21: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 71 | points | 16,403 | 7:06 AM | ||
| S&P500 | Up | 0.43% | percent | 1,880 | 8.07 | ||
| Nasdaq Composite | Down | -0.16% | percent | 4,313 | (6.74) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.65 | Annual Yield | ||
| Nike shares are down 4% to $76.06. the company generates more than half of its sales outside of North America. On yesterday’s earnings call it said a stronger dollar will continue to hurt its results this quarter. Foreign currencies “headwinds have been a significant drag on (per-share profit) growth this year and we expect to face ongoing pressures in the” fourth quarter and into next year, said Chief Financial Officer Don Blair. Nike’s sales in the fiscal third quarter ended Feb. 28 rose 13% to $7 billion, but they would have been up 14% without the currency impact. | |||||||
| Fitch Ratings affirmed the U.S.’s AAA long-term foreign and local currency credit ratings with a stable outlook on Friday, a move that removed the negative outlook that had been in place since October 2013. “The federal debt limit was suspended in mid-February in a timely manner and in a way that avoided casting uncertainty over the full faith and credit of the US, in contrast to the crises in August 2011 and October 2013,” said Fitch in a statement. Fitch said U.S. gross general government debt should peak at 100% of GDP in 2014 before falling slightly for four years. That’s below the 110% threshold previously identified as incompatible with a AAA rating. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/investing/stock/nke | |||||||
| http://www.marketwatch.com/story/fitch-affirms-us-aaa-ratings-outlook-stable-2014-03-21 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||