Morning Market Report 7/15/2014

July 15, 2014
The KUIK Morning Market Report for Tuesday, July 15:
Markets are up.
Index Direction Change Units Time Change
Dow Up                     41 points           17,096 6:35 AM
S&P500 Up 0.2% percent             1,980             3.13
Nasdaq Composite Up 0.1% percent             4,446             6.07
30 Year Treasury Up                       4 Basis Points               3.38 Annual Yield
The Federal Reserve Bank of New York reports the Empire State manufacturing survey climbed to 25.6 in July, up from 19.3 in June, the highest level since April 2010.  Economists expected 17.3, and readings above zero mean conditions are improving.
June retail sales were soft according to the Commerce Department.  Alhtough slightly better than April and May, they rose by a seasonally adjusted 0.2%, or by 0.4% excluding autos. Economists expected sales to rise by 0.6% overall and by 0.6% minus autos.
European stock markets fell, giving back some of yesterday’s gains, after ZEW data showed German investor confidence fell for a seventh straight month, raising concerns about the country’s economic growth.
Bloomberg reports that Microsoft  could announce the biggest round of job cuts in five years, possibly as soon as this week. The moves come as Microsoft works to integrate Nokia’s handset unit, which it acquired last year, with job cuts expected to affect both Nokia and overlapping units of Microsof.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/empire-state-index-reaches-four-year-high-in-july-2014-07-15?dist=beforebell
http://www.marketwatch.com/story/retail-sales-rise-at-slowest-pace-in-5-months-2014-07-15?dist=beforebell
http://www.marketwatch.com/story/european-stocks-slip-ahead-of-german-zew-uk-inflation-2014-07-15?dist=beforebell
http://www.marketwatch.com/story/microsoft-planning-major-job-cuts-over-nokia-integration-report-2014-07-15?dist=beforebell
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