Morning Market Report 6/15/2015

The KUIK Morning Market Report for Monday, June 15:
Markets are down.
Index Direction Change Units Time Change
Dow Down                    (190)  points           17,708 6:57 AM
S&P500 Down -0.9% percent            2,075           (18.72)
Nasdaq Composite Down -1.1% percent            4,994           (57.11)
30 Year Treasury Down                        (4) Basis Points              3.06 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. The country’s current bailout program also expires on that day.
The Federal Reserve reports US Industrial production fell a seasonally adjusted 0.2% in May. Economists expected a 0.2% increase. Production in the first three months of the year was revised up slightly but the data still show that output at the nation’s factories, mines, and utilities hasn’t increased since November. Output in April was revised down to a drop of 0.5% from the prior reading of a 0.2% decline.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
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