| The KUIK Morning Market Report for Monday, February 9: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (47) | points | 17,777 | 7:04 AM | ||
| S&P500 | Down | -0.1% | percent | 2,053 | (2.65) | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,739 | (5.00) | ||
| 30 Year Treasury | Down | (3) | Basis Points | 2.49 | Annual Yield | ||
| A decision Friday prohibits U.S. commonwealth Puerto Rico from enforcing its Recovery Act, a Federal judge ruled that the law, whcih was passed in June 2014, is pre-empted by federal bankruptcy code and void under the U.S. Constitution’s supremacy clause. Creditors holding almost $2 billion in debt from the island’s cash-strapped power utility had asked the U.S. District Court for Puerto Rico to block the law, arguing that only Congress is allowed to create bankruptcy rules. The Puerto Rico Electric Power Authority appointed a chief restructuring officer last September. | |||||||
| European Union foreign ministers, citing momentum behind a new peace initiative betwen Ukraine and Russia today are waiting until February 16 to impose sanctions against a new group of individuals and companies in Russia and eastern Ukraine. The EU had been set to add 19 people and nine entities to its targeted sanctions list. But following hopeful reports from the France and Germany who are leading the peace initiateve, foreign ministers agreed to adopt the measure but delay its use. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/ruling-throw-puerto-ricos-effort-to-remake-finances-into-doubt-2015-02-09 | |||||||
| http://www.marketwatch.com/story/eu-delays-new-russia-sanctions-to-give-peace-effort-a-chance-2015-02-09 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||