Morning Market Report 6/30/2014

June 30, 2014
The KUIK Morning Market Report for Monday, June 30:
Markets are down.
Index Direction Change Units Time Change
Dow Down                    (27) points           16,825 7:00 AM
S&P500 Up 0.0% percent             1,962             0.88
Nasdaq Composite Up 0.2% percent             4,404             6.45
30 Year Treasury Down                      (1) Basis Points               3.36 Annual Yield
Inflation in Europe is stable at 0.5% in June unchanged from  May, but missing forecasts  0.6% reading ahead of Thursday’s European Central Bank meeting. The weak inflation was due to food, alcohol and tobacco prices, which fell 0.2% in June, compared with a rise of 0.1% in May. Prices were flat in the industrial-goods sector compared with a year ago. The euro was unchanged after the release.
Japan’s industrial production rose 0.5% in May swinging up from a 2.8% drop in April. Economists expected a 0.9% gain. Transport equipment and autos led the gain, followed by textiles and electronics. Expectations among Japan’s manufacturers also improved. For July, they predict production to  return to growth, at 1.5%. The Japanese yen strengthened slightly after the data was released.
The Supreme Court watchers are waiting on the Hobby Lobby decision, which is expected today. It may be the most politically important ruling of the year. The Hobby Lobby chain is seeking a religious exemption from having to pay for insurance that covers contraception for its employees, as required by Obamacare.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/euro-zone-inflation-unchanged-at-05-in-june-2014-06-30
http://www.marketwatch.com/story/japan-industrial-output-rebounds-but-misses-forecast-2014-06-29
http://live.wsj.com/video/jerry-seib-bracing-for-the-hobby-lobby-decision-2014-06-29/D849AC39-B73E-4EC9-A9A3-7459EE676B9F.html#!D849AC39-B73E-4EC9-A9A3-7459EE676B9F
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