Market Update Report 4/21/2015 | Beacon Rock Wealth Advisors

The KUIK Market Update for Tuesday, April 21:

Markets are mixed.

Index	Direction	Change	Units		Time	Change
Dow	Down	(40)	points	18,036	8:10 AM
S&P500	Up	0.1%	percent	2,102		1.70
Nasdaq Composite	Up	0.5%	percent	5,020		25.17
30 Year Treasury	Unchanged	–	Basis Points	2.57	Annual Yield

Greece’s Athex Composite Index fell 3.3% on fears the country is running out of cash. The European Central Bank is ooking at measures to rein in support for Greek banks under its emergency liquidity assistance, according to Bloomberg. Yesterday, Athens ordered state-owned companies and other public entities to transfer their cash reserves to the Greek central bank. Greece must come up with economic reforms by May 11 that acceptable to its lenders to unlock the next round bailout funds.

Marketwatch reports oil services firm Baker Hughes today said it cut 17% of its workforce during the first quarter, while closing or or consolidating 140 facilities on falling oil prices. The company also reported first-quarter results that came in below Wall Street expectations. For the quarter ended March 31, Baker Hughes reported a loss of $589 million, or $1.35 a share, compared with first quarter of 2014 profit of $328 million, or 74 cents a share. Revenue fell 20% to $4.6 billion. The moves are expected to reduce costs by $700 million a year.



Gold futures are slightly highter after yesterday’s drop on safe haven-related buying on tensions in the Middle East and worries over Greece. June gold on the Comex rose 0.4%, to $1,198.60 an ounce, while May silver rose 0.5%, to $15.97 an ounce.

Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.

http://www.marketwatch.com/story/ecb-looking-at-reining-in-support-for-greek-banks-reports-2015-04-21
http://www.marketwatch.com/story/baker-hughes-cuts-17-of-staff-closes-facilities-2015-04-21-94854324
http://stream.marketwatch.com/story/markets/SS-4-4/SS-4-81187/


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