| The KUIK Market Update for Tuesday, January 21: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (41) | points | 16,418 | 8:09 AM | ||
| S&P500 | Down | -0.06% | percent | 1,838 | (1.09) | ||
| Nasdaq Composite | Up | 0.15% | percent | 4,204 | 6.32 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.75 | Annual Yield | ||
| The U.S. stock markets opened higher buoyed by the news that China’s central bank injected liquidity into large banks while upbeat earnings reports from Johnson and Johnson and Verizon pushed the indexes higher after the long weekend. | |||||||
| Bloomberg reports that former Treasury Secretary Timothy Geithner told the chairman of McGraw Hill Financial in 2011 that the U.S. would respond to Standard & Poor’s downgrade of the country’s debt. In a court statement, Chairman Harold McGraw said Geithner called him on Aug. 8, 2011, after the McGraw Hill division S&P downgraded U.S. debt. It was the only ratings agency to do so. According to the filing, Geithner told McGraw: “S&P’s conduct would be looked at very carefully. “Such behavior would not occur, he said, without a response from the government.” S&P filed documents in federal court in California on yesterday as part of a request to force the U.S. to hand over potential evidence the company says will support its claim that the government filed a fraud lawsuit against S&P in 2013 in retaliation for its downgrade of the U.S. debt in 2011. The Justice Department has said the lawsuit was unrelated to the downgrade. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/stock-futures-rise-after-chinas-cash-injections-2014-01-21 | |||||||
| http://blogs.marketwatch.com/capitolreport/2014/01/21/geithner-said-u-s-would-respond-to-sp-downgrade-report/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||