The KUIK Closing Market Report for Thursday, January 7:
Markets ended down.
Index Direction Change Units Index Time Change
Dow Down (392) points 16,514 2:14 PM
S&P500 Down -2.4% percent 1,943 (47.17)
Nasdaq Composite Down -3.0% percent 4,689 (146.34)
30 Year Treasury Down (1) Basis Points 2.93 Annual Yield
Accounting firm PricewaterhouseCoopers agreed to pay $55 million in cash to settle a class-action lawsuit in a Manhattan federal court accusing it of misleading investors in Fairfield Greenwich feeder funds that funneled their cash to Bernie Madoff. That heads off a trial that would have begun this week in which investors in were set to accuse the firm’s affiliates of negligence in connection with their work auditing Fairfield’s funds.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/pwc-to-pay-55-million-to-settle-madoff-related-lawsuit-2016-01-07
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