| The KUIK Market Update for Monday, April 20: | |||||||
| Markets are up after Friday’s big selloff. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 248 | points | 18,073 | 7:58 AM | ||
| S&P500 | Up | 1.0% | percent | 2,102 | 20.90 | ||
| Nasdaq Composite | Up | 1.1% | percent | 4,984 | 52.31 | ||
| 30 Year Treasury | Up | 5 | Basis Points | 2.55 | Annual Yield | ||
| The U.S. economy will improve after first quarter weakness and inflation will begin to firm later this year, according to William Dudley, president of the New York Fed. In remarks to be delivered to a monetary policy forum sponsored by Bloomberg, Dudley said the weak growth in the first three months of this year was likely due to winter weather and bottlenecks at the West Coast ports. And that the impact from the decline in energy prices that has brought down overall inflation is probably over. | |||||||
| Bloomberg reports the Greek federal government issued a decree that forces local governments to transfer all cash balances to the central bank, as debt to the International Monetary Fund and month-end salary payments come due. The action could raise about 2 billion euros ($2.15 billion) in extra cash that it can use to meet external obligations such as the 770 million debt paymentowed to the IMF on May 12. The decree effectively confiscates those cash reserves, currently held in commercial banks, and transfers them to the Bank of Greece. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/feds-dudley-sees-economy-improving-inflation-picking-up-2015-04-20 | |||||||
| http://www.bloomberg.com/news/articles/2015-04-20/greece-moves-to-seize-local-government-cash-as-imf-payment-looms | |||||||
| For today’s Market Update Report click to listen-> | |||||||