Market Update Report 6/15/2015

The KUIK Market Update for Monday, June 15:
Markets are down but up from their lows.
Index Direction Change Units Time Change
Dow Down                   (126)  points           17,772 8:10 AM
S&P500 Down -0.5% percent             2,084      (9.71)
Nasdaq Composite Down -0.7% percent             5,018     (33.10)
30 Year Treasury Down                      (3) Basis Points               3.07 Annual Yield
European stock markets slumped on Monday as fears of a Greek default increased after talks between Athens and its lenders broke down on Sunday night. Greece’s Athex Composite Index fell 5% to 736.66, setting it on track for the lowest close since April.  The Stoxx Europe 600 index fell 1.2% to 384.87, adding to  0.9% decline from Friday. Shares of Greek banks were among the worst performers, with National Bank of Greece down 11%.
Eurpean finance ministers will meet on Thursday for the last chance to strike a deal before Greece needs to repay 1.6 billion euros ($1.80 billion) to the International Monetary Fund on June 30 which is also when the country’s current bailout program expires.
Confidence among home builders rose five points to 59 in June, hitting a nine-month high, according to National Association of Home Builders/Wells Fargo. Economists expected 55. Readings above 50 signal that home-construction companies are optimistic about sales trends, and June marks the 12th consecutive month above 50.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
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