| The KUIK Morning Market Report for Wednesday, July 23: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (31) | points | 17,082 | 7:07 AM | ||
| S&P500 | Up | 0.0% | percent | 1,984 | 0.63 | ||
| Nasdaq Composite | Up | 0.2% | percent | 4,464 | 8.03 | ||
| 30 Year Treasury | Down | (0) | Basis Points | 3.25 | Annual Yield | ||
| Saudi Arabia announced yesterday it will open it stock market to foreign investors as it lures investment capital to its $745 billion economy. The country’s benchmark Tadawul All Share Index climbed to a six-year high after the Riyadh-based Capital Market Authority said it will open the stock market to foreigners in 2015, and publish the rules for participation next month. It is part of the Saudi government’s $130 billion spending plan to boost non-energy industries. | |||||||
| Mild gains from tech bellwethers Apple and Microsoft stand out today following mostly upbeat reaction to the companies’ latest earnings results. Apple rose 71 cents a share to $95.50 and Microsoft was up by 17 cents a share to trade at $45.03. Facebook Inc. , which reports second-quarter results after Wednesday’s market close, edged up by 56 cents a share to $69.81.The Philadelphia Semiconductor Index is off by 1.2%. In chip news, Broadcom announced it is laying off 2,500 employees and exiting the baseband chips for mobile devices business. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2014-07-22/saudi-to-open-up-531-billion-stock-market-to-foreigners.html | |||||||
| http://www.marketwatch.com/story/apple-microsoft-facebook-see-mild-gains-early-2014-07-23?dist=markets | |||||||
| For today’s Morning Market Report click to listen-> | |||||||