The KUIK Morning Market Report for Friday, March 31:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(34)
points
20,694
7:53 AM
S&P500
Down
0.0%
percent
2,368
Nasdaq Composite
Up
0.1%
percent
5,918
30 Year Treasury
Up
1
Basis Points
3.04
Annual Yield
Apple updated its Iphone software this week. Among the changes is a fix that prevents cyberattacks on 911 centers. The vulnerability came to light in October after an 18-year-old Meetkumar Desai in Arizona allegedly designed code that would cause iPhones to repeatedly dial 911. A link to the code went viral on Twitter and resulted in thousands of accidental 911 calls, overwhelming operators in at least a dozen states across the U.S. Desai was arrested last fall and charged with four felony counts of computer tampering. The code only affected iPhones, exploiting a feature that allows users to click on a phone number and immediately initiate a call. Apple says the update supersedes that capability and now requires users to always press a second confirmation before calling.
The rate of inflation, as measured by the government’s Personal Consumption Expenditures index, is now above Federal Reserve’s 2% long-term target for the first time since 2012, a potential trigger for more increases in interest rates in the months ahead. The Fed increased interest rates earlier this month owing to an improved economy and higher inflation.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
