| The KUIK Morning Market Report for Wednesday, October 9: | |||||||
| Markets are down slightly | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (6) | points | 14,769 | 7:07 AM | ||
| S&P500 | Down | -0.05% | percent | 1,655 | (0.78) | ||
| Nasdaq Composite | Down | -0.64% | percent | 3,671 | (23.58) | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.72 | Annual Yield | ||
| The White House announced that President Obama will nominate Janet Yellen to replace Ben Bernanke as chairman of the Federal Reserve. which means the central bank’s loose monetary policy will probably continue. Obama will introduce Yellen today at a noon Pacific Time ceremony at the White House. Yellen currently serves as vice chairman of the Fed. | |||||||
| The futures market is pricing in modest interest rate increases relative to historical cycles, the International Monetary Fund said today as part of its global financial stability report. The market is pricing in hikes of 3.89%, including .73% in the first year. The usual increase is is 4.25% with 2% in the first year. | |||||||
| Tech stocks tried to come back from two days of big losses, with Apple and Hewlett-Packard among the advancers. Apple rose $2.79 a share, to $484, as the company said its new iPhone 5C and 5S phones would be available in 12 more countries on Oct. 25. H-P shares climbed almost 1%, to $20.94, as the tech giant prepared to hold its annual meeting with Wall Street analysts in San Jose, Calif. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/obama-to-nominate-yellen-for-fed-chair-2013-10-08 | |||||||
| http://www.marketwatch.com/story/market-modest-on-rate-tightening-pricing-imf-2013-10-09 | |||||||
| http://www.marketwatch.com/story/apple-h-p-gains-fail-to-boost-other-tech-stocks-2013-10-09?dist=markets | |||||||
| For today’s Morning Market Report click to listen-> | |||||||