| The KUIK Morning Market Report for Wednesday, April 17: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (101) | points | 14,654 | 7:02 AM | ||
| S&P500 | Down | -0.88% | percent | 1,561 | (13.89) | points | |
| Nasdaq Composite | Down | -1.01% | percent | 3,232 | (32.94) | points | |
| 30 Year Treasury | Down | (1) | Basis Points | 2.89 | Annual Yield | ||
| BofA is hurting the market. Bank of America Corp. reported first-quarter profits of $2.62 billion which disappointed analysts. B. of A.‘s first quarter saw improved brokerage income, higher investment banking fees, and improved credit quality. It slashed $1 billion in costs. It shed nearly 6,000 employees. Revenue rose 5.5%. But the results were weighed down by lower mortgage-banking income and lower gains on the sales of bonds. | |||||||
| Yahoo is hurting technology. It fell after the Internet company forecast second-quarter sales below expectations. | |||||||
| The Federal Reserve should not “put more weight” on unemployment over price stability in its decision-making process, accoriding to James Bullard, president of the St. Louis Fed. In a speech to economists in New York, Bullard noted that, since 1995, the Fed has been keeping inflation close to a 2% target. The problem since the financial crisis is that the Fed does not take unemployment into account. New research has found that monetary policy alone cannot impact the labor market, | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/bank-of-america-struggles-in-banking-2013-04-17?link=MW_Nav_EP | |||||||
| http://www.bloomberg.com/news/2013-04-17/u-s-stock-index-futures-drop-yahoo-sinks-on-forecast.html | |||||||
| http://www.marketwatch.com/story/fed-should-not-emphasize-labor-market-bullard-2013-04-17 | |||||||
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| For today’s Morning Market Report click to listen-> | |||||||