| The KUIK Morning Market Report for Tuesday, September 16: | |||||||
| Markets are flat. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (4) | points | 17,027 | 7:09 AM | ||
| S&P500 | Up | 0.1% | percent | 1,987 | 2.52 | ||
| Nasdaq Composite | Up | 0.1% | percent | 4,521 | 2.19 | ||
| 30 Year Treasury | Down | (0) | 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 as part of an effort to simplify its assets and reduce costs. Calpers manages investments and benefits for 1.6 million current and retired police officers, firefighters and other public employees. It is a big indicator of investment trends at other public plans. Any shift it makes will influence others because of its size and history as an early adopter of alternatives to stocks and bonds. | |||||||
| 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 next year. That’s up from 38% last month. 86% of the respondents see the dollar strengthening further against the euro and yen. | |||||||
| China attracted $7.2 billion of foreign direct investment in August, the commerce ministry said, down 14% from a year earlier, its lowest level since July 2010. This was the third consecutive monthly drop and indicates growing weakness in the Chinese economy. | |||||||
| 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/china-foreign-direct-investment-at-four-year-low-2014-09-16-24854552 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||