| The KUIK Morning Market Report for Tuesday, June 2: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (79) | points | 17,962 | 7:01 AM | ||
| S&P500 | Down | -0.5% | percent | 2,101 | (10.98) | ||
| Nasdaq Composite | Down | -0.5% | percent | 5,055 | (27.63) | ||
| 30 Year Treasury | Up | 4 | Basis Points | 2.99 | Annual Yield | ||
| In a nine-to-zero decision yesterday, the Supreme Court said in a case that borrowers who owe more on a mortgage than the home is worth can’t get rid of a junior lien like a home equity loan when they file for Chapter 7 bankruptcy. In the case, two borrowers each had two mortgages on their homes, with Bank of America holding the seconds. Both borrowers were underwater and filed for Chapter 7 bankruptcy two years ago. The borrowers wanted to “strip off” the seconds, shedding those debts. The Supreme Court cited a decision from a prior case finding that lenders still have a secured claim, “regardless of whether the value of that property would be sufficient to cover the claim.” | |||||||
| The global Internet of Things market will grow to $1.7 trillion in 2020 from $655.8 billion in 2014, according to research firm IDC, as devices come online and platforms and services grow up around them. The firm predicts that the number of connected devices such as cars and refrigerators and everything in between, will grow from 10.3 million in 2014 to more than 29.5 million in 2020. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/supreme-court-hands-defeat-to-struggling-homeowners-2015-06-01 | |||||||
| http://www.marketwatch.com/story/internet-of-things-market-to-reach-17-trillion-by-2020-idc-2015-06-02-8103241 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||