The KUIK Morning Market Report for Friday, December 18:
Markets have opened on the downside.
Index Direction Change Units Time
Dow Down (136) points 17,362 7:01 AM
S&P500 Down -0.6% percent 2,029
Nasdaq Composite Down -0.3% percent 4,985
30 Year Treasury Down (3) Basis Points 2.91 Annual Yield
The House today passed a $1.1 trillion bill to fund the federal government through the end of the fiscal year that ends on Sept. 30. The bill now heads to the Senate, which is expected to vote on it later today. Besides funding the government, the bill ends the ban on U.S. crude oil exports and postpones the “Cadillac tax” on expensive health-care plans for two years. The vote was 316 to 113.
Shares of Microsoft rose 0.3% on Friday after Goldman Sachs upgraded to stock to neutral from sell on the company’s cloud computing opportunities through Office 365 and Azure. Analyst Heather Bellini turned bullish on the stock after years of bearishness, saying Goldman had previously “failed to appreciate” the stock’s ability to disconnect from previous headwinds and move higher related to its transition to the cloud. “We were wrong,” she said in a note to clients. Microsoft is off almost 0.8% to $55.26 a share.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/house-passes-11-trillion-government-funding-bill-2015-12-18?link=MW_home_latest_news
http://www.marketwatch.com/story/microsoft-stock-upgraded-after-goldman-sachs-admits-it-was-wrong-2015-12-18
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