| The KUIK Morning Market Report for Wednesday, April 8: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 83 | points | 17,960 | 7:02 AM | ||
| S&P500 | Up | 0.4% | percent | 2,085 | 8.63 | ||
| Nasdaq Composite | Up | 0.7% | percent | 4,943 | 32.99 | ||
| 30 Year Treasury | Unchanged | – | Basis Points | 2.53 | Annual Yield | ||
| Investors are looking to minutes of the Federal Open Market Committee’s last meeting, due at 11 am Pacific time, to shed light on the timing and subsequent pace of interest-rate increases. Fed Governor Jerome Powell said today that hidden slack in the labor market justifies a gradual approach to monetary policy tightening after an initial interest-rate increase, which he expects later this year. | |||||||
| Shares of Apple are off 0.4% to $125.45. Societe Generale downgraded the company, citing concerns over smartphone selling prices and the negative effects of a stronge dollar. Analyst Andy Perkins cut his rating to hold, after being at buy for the last 10 months, but kept his stock price target at $130. He estimates that average selling prices of iPhones declined to $651 each during the March quarter from $687 in the December quarter, as the number of iPhone 6 and iPhone 6 Plus models declined as a percentage of total units sold. Perkins expects sales of the Apple Watch to represent just 1.7% of total sales for fiscal 2015, compared with 63% for handsets. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/articles/2015-04-08/u-s-index-futures-rise-before-fed-minutes-amid-earnings-season | |||||||
| http://www.marketwatch.com/story/apples-stock-slips-after-societe-generale-downgrade-2015-04-08 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||