| The KUIK Morning Market Report for Monday, March 4: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (35) | points | 14,055 | 6:58 AM | ||
| S&P500 | Down | -0.08% | percent | 1,517 | (1.17) | points | |
| Nasdaq Composite | Down | -0.15% | percent | 3,165 | (4.83) | points | |
| 30 Year Treasury | Up | 0 | Basis Points | 3.07 | Annual Yield | ||
| Republican leaders yesterday insisted they won’t relent in their goal to reduce government spending or shut off the sequester that will require tens of billions in cuts over the next six months and beyond. The federal government is required to slice as much as $85 billion in spending in the fiscal year that ends in September. The across-the-board cuts in defense and domestic programs began to kick in last Friday after Democrats and Republicans failed to agree on an alternative. | |||||||
| China is hurting. The Shanghai Composite Index sank 3.7% for its worst percentage drop since August 2011, while the Shenzhen Composite Index fell 3.5%, for its steepest fall since July. The drop came after Beijing imposed measured to cool home prices and paticularly hurt Hong Kong developers. The drop came after the State Council, China’s cabinet, on Friday announced restrictions, including higher down-payments and mortgage rates on second homes in cities that have seen steep rises in property prices. The policy moves also include a 20% capital gains tax on existing-home sales. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/republicans-insist-spending-cuts-will-stay-2013-03-03 | |||||||
| http://www.marketwatch.com/story/japan-stocks-surge-as-asia-shares-sink-2013-03-03 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Morning-Market-Report.mp3 | ||||||