Morning Market Report 10/18/2013

The KUIK Morning Market Report for Friday, October 18:
Markets are up.
Index Direction Change Units Last Time Change
Dow Up                       8 points           15,377 7:22 AM
S&P500 Up 0.35% percent             1,739             6.12
Nasdaq Composite Up 0.85% percent             3,896            32.93
30 Year Treasury Down                      (1) Basis Points               3.65 Annual Yield
Intel rival Advanced Micro Devices is hurting.  It released its third quarter earnings after the market close yesterday.  The company said it expects fourth-quarter sales in a range below analysts’ forecasts of $1.52 billion.  AMD is off almost 11% to $3.66.  It is rated as Underperform with a $3 price target at Credit Suisse, and Bank of America Merrill Lynch downgraded AMD to Neutral from Buy. 
Next year’s midterm elections for Congress are now a tossup between the Republicans and the Democrats, according to the betting at the Iowa Electronic Markets.  Nancy Pelosi’s chances of leading the Democrats to a House majority have more than doubled in less than a month to about 50% as a result of the government-shutdown fiasco, according to betting on the exchange. Back in September, oddsmakers gave the Republicans a one-in-four chance of gaining seats, improving their overall control of the lower house. That’s now down to one-in-twenty. 
China’s economic recovery has ended and its gross-domestic-product growth will slow to 7.5% year-on-year in the fourth quarter and 6.9% in 2014, according to economists at Nomura. Data released today shows that China’s GDP rose 7.8% in the third quarter, meeting market expectations. But leading indicators suggest that China’s recovery ended in September, 
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/investing/stock/amd
http://www.marketwatch.com/story/bettors-verdict-gop-will-lose-the-house-2013-10-18
http://www.marketwatch.com/economy-politics?link=MW_Nav_EP
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