| The KUIK Market Update for Tuesday, May 20: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (29) | points | 16,482 | 8:03 AM | ||
| S&P500 | Down | -0.2% | percent | 1,882 | (2.91) | ||
| Nasdaq Composite | Down | -0.3% | percent | 4,113 | (12.48) | ||
| 30 Year Treasury | Up | 0 | Basis Points | 3.39 | Annual Yield | ||
| Responding to Washington’s accusations that members of the Chinese military hacked into U.S. companies’ computers, China said it has been the victim of massive cyber attacks from the U.S. over the past two months. U.S. prosecutors yesterday publicly accused five Chinese army officers in Shanghai of hacking into several U.S. companies in key industries including nuclear power, solar power, and metals and stealing business secrets. The alleged victims included Alcoa , U.S. Steel, Westinghouse, SolarWorld, Allegheny Technologies, and the United Steelworkers union. | |||||||
| Credit Suisse became the first financial institution in more than a decade to plead guilty to a crime yesterday when the Swiss bank admitted it conspired to aid tax evasion and agreed to pay $2.6 billion to settle a long-running probe by the U.S. Justice Department. | |||||||
| Under the category of “Things Could be Worse” $4.5 billion, is the amount that a Russian oligarch, Dmitry Rybolovlev, has been ordered to pay to his ex-wife in what her lawyer called the “most expensive divorce in history.” Rybolovlev’s lawyer said he plans to fight the judgement that was handed down in Switzerland and make public yesterday. The order comes after a six-year court battle between Rybolovlev and his ex-wife. The two had been married for 23 years. Next time, he’ll probably get a prenup. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/williams-says-first-rate-hike-likely-second-half-2015-2014-05-19 | |||||||
| http://www.marketwatch.com/story/china-on-hacking-we-are-victims-of-us-cyber-attacks-2014-05-20 | |||||||
| http://blogs.marketwatch.com/themargin/2014/05/20/cash-or-check-russian-oligarch-ordered-to-pay-4-5-billion-in-worlds-most-expensive-divorce/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||