| The KUIK Market Update for Wednesday, March 25: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (29) | points | 17,982 | 8:09 AM | ||
| S&P500 | Down | -0.1% | percent | 2,090 | (1.37) | ||
| Nasdaq Composite | Down | -0.6% | percent | 4,965 | (29.56) | ||
| 30 Year Treasury | Unchanged | – | Basis Points | 2.47 | Annual Yield | ||
| The Commerce Department reports that orders for durable goods fell 1.4% in February for the third decline in four months. Orders minus transportation fell 0.4% in February, for the fifth monthly drop in a row. January’s orders were lowered to 2% from a previously reported 2.8% increase. | |||||||
| Kraft Foods and Heinz are merging. Kraft shareholders will end up with a 49% stake in the combined company and a special cash dividend of $16.50 per share. That dividend of around $10 billion is being funded by an equity contribution from Warren Buffett’s Berkshire Hathaway and 3G. Kraft shares are up 32% to $81.10. | |||||||
| The Greek government is running out of money and could be pushed into default if it fails to repay 460 million euros ($502.5 million) it owes the International Monetary Fund on April 9, according to Deutsche Bank. Tax revenues so far this year are more than 1 billion euros below target while Greek banks are running out of liquidity, according to a report by economists led by David Folkerts-Landau. Greek residents are pulling money out of the Greek banks. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/businesses-cutting-investment-as-durable-goods-orders-slide-2015-03-25 | |||||||
| http://www.marketwatch.com/story/buy-signal-buffett-says-heinzkraft-is-his-kind-of-transaction-2015-03-25 | |||||||
| http://www.marketwatch.com/story/feds-evans-sees-global-uncertainty-as-biggest-risk-to-us-economy-2015-03-25?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||