| The KUIK Market Update for Friday, August 23: | |||||||
| Markets are up slightly | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 1 | 14964.83 | 14,973 | 7:39 AM | ||
| S&P500 | Up | 0.10% | percent | 1,659 | 1.69 | ||
| Nasdaq Composite | Up | 0.35% | percent | 3,651 | 12.76 | ||
| 30 Year Treasury | Down | (6) | Basis Points | 3.83 | Annual Yield | ||
| Microsoft announced this morning that CEO Steve Ballmer plans to retire within the next 12 months, once the company finds a successor. Ballmer has led the company since founder Bill Gates stepped down in 2000. During that time, the size of the business has more than tripled, due mostly to growth of Windows and Office. Howevert the company’s revenue growth has stalled in the last two years, as PC sales have slipped globally due to the rising popularity of smartphones and tablets. Microsoft is up almost 7% to $34.59 a share. | |||||||
| The Commerce Department reports sales of new U.S. homes dropped 13.4% to a seasonally adjusted annual rate of 394,000 in July, the lowest rate since October, as all four regions posted declines. Economists polled by MarketWatch had expected sales to pull back to 485,000. Sales are up 6.8% from July 2012. Monthly sales fell 16.1% in the West, 13.4% in the South, 12.9% in the Midwest and 5.7% in the Northeast. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/microsoft-ceo-steve-ballmer-to-retire-2013-08-23-91033834 | |||||||
| http://www.marketwatch.com/story/new-us-home-sales-drop-to-394000-rate-in-july-2013-08-23-1091014 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||