| The KUIK Morning Market Report for Thursday, July 4: | |||||||
| Markets are closed in honor of the 4th of July holiday but here is what is happening. | |||||||
| The European Central Bank kept its main lending rate at a record low 0.5%, the same level it’s been at since it was cut from 0.75% back in May. That marked the first cut in 10 months. The ECB left its deposit rate, which it pays banks on reserves held at the central bank, at zero. Speaking to reporters, central bank president Mario Draghi said rates wouldn’t rise for “an extended period.” European stocks jumped and the euro tumbled against the dollar. This comes after an earlier surprise statement from the Bank of England Monetary Policy, which also left key interest rates unchanged. The statement explaining the BOE policy decision was also viewed as dovish and triggered a surge in U.K. stocks and a sharp fall for the British Pound versus the dollar. US stock futures gained on that news in a shortened session. | |||||||
| The Securities and Exchange Commission plans to vote July 10 on a proposal that would remove the ban on advertising by hedge funds. The 2012 JOBS Act approved by Congress makes it easier for hedge funds and start-up companies to raise capital. It allows hedge funds, private equity firms, and angel investors to advertise but only members of the public who will be allowed to buy will be qualified high net worth individuals | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/ecb-keeps-main-lending-rate-unchanged-at-05-2013-07-04 | |||||||
| http://www.marketwatch.com/story/sec-to-vote-on-hedge-fund-ad-rule-july-10-2013-07-03 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||