The KUIK Market Update for Monday, March 25: |
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Markets opened strongly but have now given back their gains. |
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Index |
Direction |
Change |
Units |
Last |
Time |
Change |
|
Dow |
Down |
(17) |
points |
14,495 |
7:42 AM |
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S&P500 |
Up |
0.11% |
percent |
1,559 |
|
1.70 |
points |
Nasdaq Composite |
Up |
0.09% |
percent |
3,248 |
|
2.85 |
points |
30 Year Treasury |
Up |
2 |
Basis Points |
3.16 |
Annual Yield |
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|
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Cyprus got its bailout. The cash-strapped island nation struck a bargain with the European Central Bank, the European Commission, and the International Monetary Fund to securing 10 billion euros ($13 billion) in financing to save its banks. Uninsured accounts larger than 100,000 euros will take a 40% haircut. As part of the agreement, there will be a deep restructuring of the two largest banks as well as a downsizing of the overall banking sector. Russians have $31 billion in deposits in Cyprus. |
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The Securities and Exchange Commission has approved Nasdaq’s plan to distribute $62 million to those hurt by the botched initial public offering of Facebook. Facebook did its IPO last May 18. It had a delayed debut after the Nasdaq experienced technical problems while trying to get trade confirmations to brokers. |
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April gold fell nearly 0.9%, to $1,592.30 an ounce after settling at $1,606.10 an ounce on Friday. News of the Cyprus deal push traders toward riskier assets.. Gold hasn’t closed below the $1,600 level since March 15. |
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Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. |
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http://www.marketwatch.com/story/cyprus-lenders-agree-bailout-deal-reports-2013-03-24 |
http://www.marketwatch.com/story/sec-approves-nasdaqs-facebook-compensation-plan-2013-03-25-91032836 |
http://www.marketwatch.com/story/gold-under-1600-for-first-time-in-over-a-week-2013-03-25?link=MW_Nav_EP |
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For today’s Morning Market Report click to listen-> |
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