Market Update Report 10/9/2013

The KUIK Market Update for Wednesday, October 9:
Markets are down.
Index Direction Change Units Last Time Change
Dow Down                    (14) points           14,763 8:03 AM
S&P500 Down -0.19% percent             1,652            (3.15)
Nasdaq Composite Down -0.74% percent             3,667           (27.45)
30 Year Treasury Up                       3 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.
December gold  fell 2.1%, to $1,296.80 an ounce on the Comex division of the New York Merc.  This is the first close below $1,300 since Oct. 1.
Apple isexpected to unveil new iPads with a faster, 64-bit processor later this month, which may help the company position its tablet as a stronger competitor for PC’s.  Apple plans to hold an event on Oct. 22 to unveil its latest iPad updates, the AllThingsD tech blog reported yesterday. The company is expected to add the Samsung 64-bit A7 chip that was unveiled with the iPhone 5S last month to its new iPad lineup, as well as give the iPad mini a Retina high-definition display.
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/gold-prices-slip-with-no-boost-from-yellen-news-2013-10-09?dist=markets
http://blogs.marketwatch.com/thetell/2013/10/09/beefed-up-ipad-may-work-as-pc-replacement/
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