Morning Market Report 5/17/2013

The KUIK Morning Market Report for Friday, May 17:
 
Markets are up.
 
Index Direction Change Units Last Time Change  
Dow Up                     62 points           15,298 7:04 AM    
S&P500 Up 0.55% percent             1,660               9.14 points
Nasdaq Composite Up 0.57% percent             3,484              23.82 points
30 Year Treasury Up                       3 Basis Points               3.12 Annual Yield    
 
Nordstrom  shares fell 2.4% to $59.69 . The department-store operator said late Thursday that its first-quarter profit declined as it lowered estimates for 2014 revenue and same-store sales. 
 
Bank of America Merrill Lynch is bullish on the second quarter. They see growth of 1.8%, up from 1.3% and roughly in line with the consensus, wrote Ethan Harris, the firm’s head of North America economics, in a note to clients
 
Yesterday the House of Representatives voted to Obamacare–the health-care overhaul law.  The House voted 229 to 195 to repeal the measure, with two Democrats voting along with the Republican majority: Mike McIntyre of North Carolina and Jim Matheson of Utah.  The measure is expected to meet a death panel in the Democratic controlled Senate.
 
The Conference Board reported the leading economic index was up  0.6  95.0 in April after falling a downwardly revised 0.2 points in March. Economists polled by MarketWatch expected only a 0.3 increase.
 
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
 
http://www.marketwatch.com/story/fridays-movers-retailers-slump-on-earnings-2013-05-17?dist=markets
http://blogs.marketwatch.com/thetell/2013/05/17/merrill-lynch-is-no-longer-a-bear-on-the-second-quarter/
http://blogs.marketwatch.com/health-exchange/2013/05/16/no-surprise-house-opts-to-repeal-obamacare-in-37th-symbolic-vote/
http://www.marketwatch.com/story/leading-economic-index-up-06-in-april-to-950-2013-05-17
 
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