| The KUIK Market Update for Monday, August 31: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (133) | points | 16,510 | 8:07 AM | ||
| S&P500 | Down | -0.9% | percent | 1,971 | (17.86) | ||
| Nasdaq Composite | Down | -0.8% | percent | 4,790 | (38.81) | ||
| 30 Year Treasury | Down | (3) | Basis Points | 2.88 | Annual Yield | ||
| Intel was upgraded to outperform from market perform at Northland Capital Markets, which cited an improving outlook for the PC market and improved valuation after the recent selloff. Analyst Gus Richard kept his stock price target at $32, which is 13% over the current price of $28.31. He believes he worst of the downturn in Intel’s PC business is over, now that the excess inventory from the post-Windows XP corporate refresh is cleared out. Richard said the completion of the Altera acquisition is a positive, virtual reality will boost PC business in 2017, and the new 3DXpoint memory could be a game changer. | |||||||
| Marketwatch reports Chinese authorities said they punished nearly 200 people for spreading online rumors in connection with recent major news events, in a government crackdown on politically sensitive discourse. The sweep targeted people who the government said spread false Internet rumors regarding events such as the stock-market turmoil and explosions in the port city of Tianjin, according to the Ministry of Public Security in a statement yesterday. The ministry said the accused expressed remorse for their actions, in which they “misled society and the public, generated and spread fearful sentiment, and even used the opportunity to maliciously concoct rumors to attack [Communist] Party and national leaders.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/intel-upgraded-on-belief-that-the-worst-of-the-pc-downturn-is-over-2015-08-31 | |||||||
| http://www.marketwatch.com/story/china-punishes-nearly-200-for-spreading-rumors-2015-08-31 | |||||||
| For today’s Market Update Report click to listen-> | |||||||