| The KUIK Market Update for Monday, October 7: | |||||||
| Markets are down but up from their lows. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (81) | points | 14,991 | 10:39 AM | ||
| S&P500 | Down | -0.55% | percent | 1,681 | (9.22) | ||
| Nasdaq Composite | Down | -0.68% | percent | 3,782 | (25.76) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.69 | Annual Yield | ||
| The government shutdown and Capitol Hill stalemet over the debt ceiling and Obamacare drags on another day. | |||||||
| The CEO of Moody’s Investors Service ruled out the possibility of a government default. Moody’s CEO Raymond McDaniel said in an interview with CNBC. “Hopefully it is unlikely that we go past October 17 and fail to raise the debt ceiling, but even if that does happen, then we think that the U.S. Treasury is still going to pay on those Treasury securities.” | |||||||
| House Speaker John Boehner said yesterday he wouldn’t bring up bills to fully reopen the government or increase the country’s borrowing limit unless Democrats agree to broader talks aimed at trimming the deficit. The speaker insisted he couldn’t muster enough votes to pass either one without the concessions | |||||||
| Be careful where you invest. The social media company Twitter announced its initial public offering last week. However, bankrupt Tweeter Home Entertainment Group stock was up 523% Friday, trading at the whopping price of 5 cents. It hit a high of 13 cents in morning trade. Twitter announced that its symbol will be TWTR. Tweeter trades with the ticker “TWTRQ.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/stocks-begin-sharply-lower-on-default-standoff-2013-10-07-9913524 | |||||||
| http://www.marketwatch.com/story/moodys-ceo-doubtful-that-us-will-default-2013-10-07 | |||||||
| http://www.marketwatch.com/story/boehner-ties-shutdown-truce-to-talks-on-debt-limit-2013-10-07 | |||||||
| http://blogs.marketwatch.com/thetell/2013/10/04/twtrq-stock-up-as-much-as-1800-as-investors-confuse-tweeter-for-twitter/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||