| The KUIK Morning Market Report for Wednesday, June 11: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (70) | points | 16,876 | 7:14 AM | ||
| S&P500 | Down | -0.3% | percent | 1,945 | (5.59) | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,333 | (4.78) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.45 | Annual Yield | ||
| House Majority Leader Eric Cantor lost his re-election bid, falling to Tea Party challenger David Brat in a Virginia Republican primary in one of the biggest upsets in modern congressional history. Cantor is the second-ranking House Republican and was considered the frontrunner to become the next House speaker. Brat teaches economics at Randolph-Macon College in Ashland, Virginia, and had campaigned saying Cantor was part of the Washington establishment. As a result of Cantor’s loss, immigration reform is probably dead in both parties. | |||||||
| The World Bank forecast in a report that the global economy will expand at 2.8 percent this year, down from a January projection of 3.2 percent. The lender predicted slower growth for the U.S., China, Russia, India and Brazil. It left the estimate for world growth in 2015 unchanged at 3.4 percent. | |||||||
| Regulators from the European Union announced a formal investigation into the tax affairs of Apple and Starbucks over concerns multinational companies are enjoying better tax breaks than allowed under EU law. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2014-06-11/house-majority-leader-cantor-loses-to-tea-party-opponent.html | |||||||
| http://www.bloomberg.com/news/2014-06-11/u-s-stock-futures-decline-on-world-bank-growth-forecast.html | |||||||
| http://www.marketwatch.com/story/stock-futures-dip-as-world-bank-cuts-global-forecast-2014-06-11?dist=markets | |||||||
| For today’s Morning Market Report click to listen-> | |||||||