| The KUIK Morning Market Report for Wednesday, May 29: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (91) | points | 15,317 | 7:03 AM | ||
| S&P500 | Down | -0.44% | percent | 1,653 | (7.27) | points | |
| Nasdaq Composite | Down | -0.52% | percent | 3,471 | 50.00 | points | |
| 30 Year Treasury | Down | (2) | Basis Points | 3.27 | Annual Yield | ||
| The Organisation for Economic Co-operation and Development warned that when central banks stop monetary-easing it will probably cause spikes in government-bond yields, posing a risk to the outlook of the global economy. The OECD said it expects the US economy to grow 1.9% in 2013, and 2.8% in 2014. It expects Europe’s to shrink .6% in 2013. | |||||||
| The dollar fell sharply against the Japanese yen and the euro on profit-taking as traders weighed the impact of rising U.S. yields and eyed a drop in European stocks and U.S. stock futures. | |||||||
| The European Central Bank reported that the euro zone’s botched bailout of Cyprus caused a mini-run on banks in many of the currency union’s 17 members in April, increasing the decline in lending to the real economy. | |||||||
| Marketwatch reports the International Monetary Fund has cut its estimate for China’s economic growth in 2013 and 2014 to 7.75%. It had previously estimated growth at 8% for 2013 and 8.2% for 2014. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/oecd-warns-of-risks-in-exiting-qe-2013-05-29 | |||||||
| http://www.marketwatch.com/story/yen-gains-as-japanese-bond-yields-rise-2013-05-29 | |||||||
| http://www.marketwatch.com/story/cyprus-bailout-caused-a-mini-run-on-banks-ecb-2013-05-29 | |||||||
| http://www.marketwatch.com/story/imf-cuts-growth-forecast-for-china-2013-05-29-14851810 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||