| The KUIK Morning Market Report for Monday, June 10: | |||||||
| Markets are mixed | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 11 | points | 15,254 | 6:54 AM | ||
| S&P500 | Down | -0.06% | percent | 1,642 | (1.05) | points | |
| Nasdaq Composite | Up | 0.02% | percent | 3,470 | (0.75) | points | |
| 30 Year Treasury | Up | 5 | Basis Points | 3.37 | Annual Yield | ||
| Standard & Poor’s revised its long-term outlook on its U.S. credit rating to stable from negative. S&P downgraded the government debt rating to AA+ from its top rating of AAA in 2011. The rating agency cited economic strength and the dollar’s status as a reserve currency as the primary drivers of the outlook revision. S&P said the country has less than a one-in-three chance of another downgrade in the near-term. | |||||||
| Economic growth in China slowed in May according to government reports released over the weekend. China’s producer price index fell 2.9% in May, a faster decline from the 2.6% on-year decline reported in April. Economists expected a 2.5% decline. Lending is falling, with total financing dropping about a third to 1.19 trillion yuan ($194 billion) in May from April risks slowing China’s economic growth even further. Industrial production slowed slightly in May with a 9.2% increase for the year, compared with a 9.3% year-to-date rise in April. the bright spot in China is retail sales. May data showed China retail sales rose 12.9% for the year, compared with a 12.8% year-to-date rise in April. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/sp-revises-us-outlook-to-stable-from-negative-2013-06-10 | |||||||
| http://www.marketwatch.com/story/china-data-shows-slowing-of-growth-2013-06-09 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||