The KUIK Morning Market Report for Monday, October 20: |
Markets are mixed. |
Index |
Direction |
Change |
Units |
Time |
Change |
Dow |
Down |
(71) |
points |
16,310 |
6:58 AM |
S&P500 |
Up |
0.1% |
percent |
1,889 |
2.34 |
Nasdaq Composite |
Up |
0.3% |
percent |
4,271 |
12.49 |
30 Year Treasury |
Down |
(2) |
Basis Points |
2.95 |
Annual Yield |
IBM posted sharply lower earnings in its third quarter as sales fell across several divisions and the tech giant unveiled a deal to transfer its semiconductor operations to Globalfoundries. This is the 10th quarter that IBM has not increased revenues. Under the deal with Globalfoundries, IBM will pay the company $1.5 billion to take over chip manufacturing, and it will continue to produce processors used in IBM systems. IBM is off 7% to $169.46 a share. |
Dallas Federal Reserve President Richard Fisher said today that he will support ending the central bank’s bond-buying program on schedule next week. In an interview on CNBC, Fisher said he was not troubled by last week’s market volatility and did not think inflation was trending lower. |
The European Central Bank said today it has started buying covered bonds as part of a stimulus program to boost the eurozone’s flagging economy. Covered bonds are backed by a pool of loans such as residential mortgages, and are considered the safest type of debt that banks sell. The program is part of a package of stimulus measures announced in September that included interest rate cuts to fresh record lows and planned purchases of asset-backed securities. |
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. |
http://www.marketwatch.com/story/ibm-to-transfer-chip-ops-as-revenue-drops-again-2014-10-20-74852644 |
http://www.marketwatch.com/story/feds-fisher-supports-ending-qe3-next-week-2014-10-20 |
http://www.marketwatch.com/story/ecb-starts-buying-covered-bonds-as-part-of-stimulus-plan-2014-10-20 |
For today’s Morning Market Report click to listen-> |
|