Morning Market Report 8/20/2013

The KUIK Morning Market Report for Tuesday, August 20:
Markets are mixed.
Index Direction Change Units Last Time Change
Dow Down                      (3) points           15,008 6:56 AM
S&P500 Up 0.14% percent             1,648             2.27
Nasdaq Composite Up 0.27% percent             3,599             9.69
30 Year Treasury Down                      (4) Basis Points               3.87 Annual Yield
Retailers are helping the stock market this morning.  Best Buy  shares jumped 15% after the consumer electronics retailer said second-quarter earnings rose from the year-earlier period.  Analysts expected a drop. Home Depot reported a 17.2% rise in net earnings to $1.24 a share, which beat forecasts. It posted a sales gain of 9.5% and an 11.4% rise in comparable sales in the U.S. alone.  Shares rose nearly 4% in premarket trading. 
European stock markets slid today, with investors cautious of placing any new positions ahead of the release of minutes from the latest U.S. Federal Reserve meeting, due tomorrow. The Stoxx Europe 600 index dropped 1% to 301.70, on track for the lowest close in August.
 Asian stocks tumbled, led by a 3.2% drop in Indonesia, as worries that a reduction in the Federal Reserve’s bond purchases would hurt demand for emerging market assets hurt stocks in both the region’s emerging and developed nations.  Japan’s Nikkei ended 2.6% lower, South Korea’s Kospi lost 1.6% and Australia’s S&P/ASX 200  gave up 0.7%. Elsewhere, Hong Kong’s Hang Seng Index lost 2.2% and China’s Shanghai Composite declined 0.6%. 
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/stock-futures-fall-after-emerging-markets-rout-2013-08-20
http://www.marketwatch.com/story/europe-stocks-slump-with-all-eyes-on-us-fed-2013-08-20
http://www.marketwatch.com/story/asia-stocks-mostly-drop-as-us-yields-rise-2013-08-19?link=MW_popular
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