| The KUIK Market Update for Monday, November 11: | |||||||
| It’s Veteran’s Day, a Federal holiday. The stock market is open but the bond market and banks are closed and markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 12 | points | 15,774 | 7:48 AM | ||
| S&P500 | Down | -0.01% | percent | 1,770 | (0.23) | ||
| Nasdaq Composite | Down | -0.16% | percent | 3,912 | (6.33) | ||
| 30 Year Treasury | Up | 1 | Basis Points | 3.85 | Annual Yield | ||
| Janet Yellen, President Obama’s nominee to replace Ben Bernanke as Chairman of the Federal Reserve will be questioned by the Senate Banking Committee on Thursday. The key issue will be when the Fed will reduce its $85 billion a month in bond purchases. The committee is expected to approve her nomination. It will then go to the full Senate for approval. | |||||||
| The Wall Street Journal reported Saturday that the U.S. government wants Bank of America pay a penalty of $864 million to cover losses from bad mortgages made from August 2007 until April 2008. The mortgages were part of a program created by CountryWide called “Hustle,” which aimed to quickly make loans that were then sold to Fannie Mae and Freddie Mac. Bank of America purchased CountryWide in 2008. | |||||||
| Gold futures are down, feeling the effects of last week’s surprisingly strong U.S. jobs report and related expectations the Federal Reserve will move sooner to start scaling back the flow of monetary stimulus to the economy. December gold fell 0.1%, to trade at $1,282.90 an ounce on the New York Merc. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/yellen-to-get-quizzed-as-taper-timing-debate-rages-2013-11-10 | |||||||
| http://www.marketwatch.com/story/us-wants-bofa-to-pay-864m-over-bad-loans-wsj-2013-11-09 | |||||||
| http://www.marketwatch.com/story/gold-inches-up-after-suffering-from-jobs-report-2013-11-10?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||