| The KUIK Morning Market Report for Monday, October 20: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (71) | points | 16,310 | 6:58 AM | ||
| S&P500 | Up | 0.1% | percent | 1,889 | 2.34 | ||
| Nasdaq Composite | Up | 0.3% | percent | 4,271 | 12.49 | ||
| 30 Year Treasury | Down | (2) | Basis Points | 2.95 | Annual Yield | ||
| IBM posted sharply lower earnings in its third quarter as sales fell across several divisions and the tech giant unveiled a deal to transfer its semiconductor operations to Globalfoundries. This is the 10th quarter that IBM has not increased revenues. Under the deal with Globalfoundries, IBM will pay the company $1.5 billion to take over chip manufacturing, and it will continue to produce processors used in IBM systems. IBM is off 7% to $169.46 a share. | |||||||
| Dallas Federal Reserve President Richard Fisher said today that he will support ending the central bank’s bond-buying program on schedule next week. In an interview on CNBC, Fisher said he was not troubled by last week’s market volatility and did not think inflation was trending lower. | |||||||
| The European Central Bank said today it has started buying covered bonds as part of a stimulus program to boost the eurozone’s flagging economy. Covered bonds are backed by a pool of loans such as residential mortgages, and are considered the safest type of debt that banks sell. The program is part of a package of stimulus measures announced in September that included interest rate cuts to fresh record lows and planned purchases of asset-backed securities. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/ibm-to-transfer-chip-ops-as-revenue-drops-again-2014-10-20-74852644 | |||||||
| http://www.marketwatch.com/story/feds-fisher-supports-ending-qe3-next-week-2014-10-20 | |||||||
| http://www.marketwatch.com/story/ecb-starts-buying-covered-bonds-as-part-of-stimulus-plan-2014-10-20 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||