| The KUIK Market Update for Tuesday, September 16: | |||||||
| Markets are flat. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (10) | points | 17,022 | 8:04 AM | ||
| S&P500 | Up | 0.1% | percent | 1,986 | 1.54 | ||
| Nasdaq Composite | Down | -0.2% | percent | 4,512 | (6.78) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.34 | Annual Yield | ||
| The California Public Employees’ Retirement System known as Calpers announced yesterday that it will sell its entire $4 billion investment in hedge funds over the next year to simplify its assets and reduce costs. Calpers manages $289 billion in investments and benefits for 1.6 million current and retired public employees. It is a big indicator of investment trends at other big institutional investors. | |||||||
| Interest rates are going up, according to the Bank of America Merrill Lynch Fund Manager Survey for September. 48% of the fund managers polled, believe the Fed will tighten interest rates for the first time in nine years in the second quarter of 2015. That’s up from 38% last month. 86% of the respondents see the dollar strengthening further against the euro and yen. | |||||||
| The Census Bureau reports the poverty rate fell in 2013, for the first drop since 2006. The official poverty rate fell to 14.5%, down from 15% in 2013, with 45.3 million people living at or below the poverty line. The weighted average poverty threshold for a family of four in 2013 was $23,834. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/calpers-to-exit-hedge-funds-2014-09-15-181035034 | |||||||
| http://www.marketwatch.com/story/investors-banking-on-spring-rate-hike-merrill-survey-2014-09-16 | |||||||
| http://www.marketwatch.com/story/poverty-rate-declined-last-year-for-first-time-since-2006-2014-09-16 | |||||||
| For today’s Market Update Report click to listen-> | |||||||