Morning Market Report 7/6/2015

The KUIK Morning Market Report for Monday, July 6:
Markets are down.
Index Direction Change Units Time Change
Dow Down                      (91)  points           17,639 6:52 AM
S&P500 Down -0.4% percent            2,068            (9.22)
Nasdaq Composite Down -0.4% percent            4,988           (20.73)
30 Year Treasury Down                        (9) Basis Points              3.10 Annual Yield
Greece voted “no”.  To accepting the European Union’s bailout conditions, even though the Greeks still want to stay in the euro. The  government believes that the vote gives them a popular mandate to negotiate a new agreement which will provide a new 29 billion euro two-year bailout  that is more favorable to Greece. European creditors,  consider the result “regrettable,” claim that “no” was a vote for Greece to leave the euro
The Stoxx Europe 600 fell 0.8% at 380.31, heading to its lowest close since February, according to FactSet. All sectors were in the red, and bank stocks were the hardest hit in the financials group. The Stoxx Europe 600 Banks Index was down 2%. Germany’s DAX 30 DAX,fell 1.4% to 10,903.95. German Chancellor Angela Merkel and French President François Hollande are expected to meet in Paris later today, and eurozone leaders are scheduled tom meet tomorrow in Brussels.Markets are waiting for word from the European Central Bank on what it will do with emergency lending to Greek banks. Greek Finance Minister Yanis Varoufakis resigned. He said the move is due to “creditors’ loathing”.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/greeces-no-vote-is-really-no-vote-at-all-2015-07-06
http://www.marketwatch.com/story/european-stocks-knocked-down-as-greek-voters-say-no-to-creditors-demands-2015-07-06
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