| The KUIK Market Update for Monday, October 14: | |||||||
| Markets have started the week on the down side. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (71) | points | 15,166 | 7:55 AM | ||
| S&P500 | Down | -0.53% | percent | 1,694 | (8.98) | ||
| Nasdaq Composite | Down | -0.43% | percent | 3,775 | (16.41) | ||
| 30 Year Treasury | Up | 1 | Basis Points | 3.75 | Annual Yield | ||
| Three American were awarded the Nobel Prize in economics today by the The Royal Swedish Academy of Sciences in Stockholm. Eugene Fama and Lars Peter Hansen of the University of Chicago and Robert Shiller of Yale, were honored for their work on analysis of asset prices. Fama’s work on efficient markets let to the creation of index funds, Hansen developed a widely used econometric tool. Shiller did pioneering work on behavior finance, showng that stock prices can move for irrational reasons. | |||||||
| The Wall Street Journal reports s government shutdown and debt-ceiling battle have added uncertainty to the economy, and as a result of the standoff, the Federal Reserve’s easy-money policies will continue for a lot longer than anyone expected. | |||||||
| Crude oil fell on shutdown worries. November crude fell 0.7%, to $101.36 a barrel on the New York Merc. December gold rose 1.1%, to $1,282.60 an ounce. Gold fell last week on hopes for a debt deal, dropping below $1,300 an ounce on Friday to settle at its lowest level in about three months. | |||||||
| Federal offices and banks are closed in honor of Columbus Day and there will be no mail delivery. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-trio-wins-nobel-prize-in-economics-2013-10-14 | |||||||
| http://live.wsj.com/video/shutdown-likely-to-prolong-feds-stimulus-2013-10-14-9115947/A8FD773D-A3FF-4818-8F14-EFFE84FF406E.html#!A8FD773D-A3FF-4818-8F14-EFFE84FF406E | |||||||
| http://www.marketwatch.com/story/gold-rebounds-11-to-128260-an-ounce-2013-10-14?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||