| The KUIK Market Update for Wednesday, March 12: | |||||||
| Markets are down but up from their lows of the day. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (33) | points | 16,318 | 8:18 AM | ||
| S&P500 | Down | -0.12% | percent | 1,865 | (2.31) | ||
| Nasdaq Composite | Up | 0.12% | percent | 4,313 | 5.36 | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.67 | Annual Yield | ||
| Republican David Jolly beat his Democratic opponent Alex Sink yesterday in a Florida special election for Congress. The contest is seen as a bellwether for November’s midterm elections. According to results posted on Politico, Jolly took close to 49% of the vote against Sink’s roughly 47%, while Libertarian candidate Lucas Overby captured just under 5%. Jolly tied Sink to Obamacare in his bid to take the congressional district that includes St. Peterburg, which went for Barack Obama in 2012. | |||||||
| The Wall Street Journal reports that PresidentObama is expected to order a rule change this week that would require employers to pay overtime to a larger number of salaried workers. Currently, many businesses aren’t required to pay overtime to certain salaried workers if they earn more than $24,000 a yea, a level set in 2004. The White House is expected to direct the Labor Department to raise that salary threshold, though it is unclear by how much. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/republican-jolly-wins-in-bellwether-fla-district-2014-03-11 | |||||||
| http://www.marketwatch.com/story/obama-plans-to-expand-overtime-eligibility-2014-03-12 | |||||||
| For today’s Market Update Report click to listen-> | |||||||