| The KUIK Morning Market Report for Monday, September 29: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (133) | points | 16,980 | 7:04 AM | ||
| S&P500 | Down | -0.8% | percent | 1,968 | (14.90) | ||
| Nasdaq Composite | Down | -0.8% | percent | 4,478 | (34.02) | ||
| 30 Year Treasury | Down | (5) | Basis Points | 3.17 | Annual Yield | ||
| Lenovo Group expects to complete its $2.1 billion acquisition of IBM’s low-end server business this week. Lenovo bought IBM’s personal computer business in 2005, and is the world’s largest PC maker, after overtakingHewlett-Packard and Del. Lenovo is challenging them in the server market with the acquisition of IBM’s x86 server unit. The deal turns Lenovo into one of the major players in the $50 billion market. | |||||||
| Consumer spending increased by 0.5% in August after no change in July, indicating the economy grew at a moderate pace in the third quarter. Durable outlays were up 1.8% and service spending also rose 0.5%. Spending on nondurables dropped 0.3%. Incomes and money left over after taxes both increased by 0.3%. Economists forecast a seasonally adjusted 0.4% increase in spending and a 0.3% gain in income. Saving fell to 5.4% from a 20-month high of 5.6% in July. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/lenovo-set-to-close-21-billion-server-deal-with-ibm-2014-09-29 | |||||||
| http://www.marketwatch.com/story/us-consumer-spending-jumps-05-in-august-2014-09-29-8913010 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||