| The KUIK Market Update for Wednesday, June 18: | |||||||
| Markets are flat. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (22) | points | 16,787 | 7:52 AM | ||
| S&P500 | Up | 0.0% | percent | 1,942 | 0.37 | ||
| Nasdaq Composite | Down | 0.0% | percent | 4,337 | (0.25) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.43 | Annual Yield | ||
| The Federal Reserve winds up its two-day policy meeting today and there will be a press briefing by the Fed chairman Janet Yellen at 11:30 am Pacific time. The central bank is expected to reduce its monthly bond purchases by another $10 billion to $35 billion a month and leave ithe fed funds policy target of 0% to 0.25% unchanged. nvestors will watch for any comments from Yellen that point to when the Fed will begin to raise interest rates as the central bank reaches its inflation target at 2%. Data released yesterday shows that inflation hit an unadjusted 2.1% rate in May. The market will also look for a possible reduction in the Fed’s growth projection for the economy this year. | |||||||
| The Organization of the Petroleum Exporting Countries could meet ahead of schedule if the continuing crisis in Iraq disrupts the country’s exports of crude oil. At its latest meeting last week, OPEC said it would keep its production ceiling for 2014 at 30 million barrels of oil a day and would next meet on Nov. 27. That could change if oil from Iraq is disrupted. Iraqi oil exports currently run at 2.5 million barrels a day. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/stock-futures-steady-ahead-of-fed-announcement-2014-06-18?dist=markets | |||||||
| http://www.marketwatch.com/story/opec-may-bring-forward-next-meeting-on-iraq-concerns-2014-06-18?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||