| The KUIK Morning Market Report for Thursday, August 15: | |||||||
| Markets are having a big down day. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (202) | points | 15,136 | 7:01 AM | ||
| S&P500 | Down | -1.32% | percent | 1,663 | (22.19) | ||
| Nasdaq Composite | Down | -1.58% | percent | 3,611 | 2.00 | ||
| 30 Year Treasury | Up | 7 | Basis Points | 3.82 | Annual Yield | ||
| The Federal Reserve said industrial production was unchanged on a seasonally adjusted basis after a downwardly revised 0.2% increase in June. Economists polled by MarketWatch expected 0.2% growth in July. Output in the automotive sector fell. Motor-vehicle and part production slumped 1.7%. Petroleum and coal products were strong, rising 2%. | |||||||
| Manufacturers in the New York region said business improved at a slightly slower pace in early August than in July. The New York Fed’s “Empire State” general business conditions index fell to 8.2 in August from 9.5 in July. | |||||||
| Shares of networking giant Cisco Systems dropped more than 8%. The company said yestyerday it would cut 5% of its workforce, totalling about 4,000 jobs, citing a challenging economy. “This recovery is more mixed and inconsistent than the others I have seen,” said Chief Executive John Chambers.The company reported fiscal fourth-quarter earnings that rose 18%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/industrial-production-unexpectedly-flat-in-july-2013-08-15 | |||||||
| http://www.marketwatch.com/story/new-york-factory-activity-levels-off-in-august-2013-08-15 | |||||||
| http://www.marketwatch.com/story/thursdays-movers-cisco-systems-apple-2013-08-15 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||