The KUIK Closing Market Report for Monday, November 28:
Markets were down.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(54)
points
19,098
1:31 PM
S&P500
Down
-0.5%
percent
2,202
(11.63)
Nasdaq Composite
Down
-0.6%
percent
5,369
(30.11)
30 Year Treasury
Down
(4)
Basis Points
2.98
Annual Yield
Boeing suffered a defeat when the World Trade Organization ruled it got an illegal tax break from Washington state starting in 2013 as an incentive to build the 777X widebody there. The European Union, backs Boeing rival Airbus. It filed a case claiming seven tax incentives from Washington were illegal state aid. The ruling from the WTO said only one of the seven tax breaks was a prohibited subsidy. Both sides claimed victory. In a statement, Boeing said the ruling covered only $50 million instead of a potential $8.7 billion in subsidies claimed by the EU. And in its own release, the European Commission described the ruling as a “major win.”
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
