Market Update Report 5/19/2017

The KUIK Market Update for Friday, May 19:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                    119  points            20,783 8:19 AM    
S&P500 Up 0.7% percent             2,383        16.83  
Nasdaq Composite Up 0.7% percent             6,097        42.15  
30 Year Treasury Up                       1 Basis Points               2.91 Annual Yield    
 
The Trump Administration will release next years budget on Tuesday. It will propose balancing the the federal budget over 10 years.  It will spare Medicare and Social Security, the two largest drivers of future spending  and cut trillions from other programs including  education, housing, environment, and foreign aid already laid out by the administration, and add new proposed reductions to nondiscretionary spending like food stamps, Medicaid, and federal employee-benefit programs.
 
Under the heading of “There’s a company for everything.” ShotSpottera gunshot detection service for law enforcement, set a price range Friday for its initial public offering of $10 to $12, which would bring in up to $33.6 million. The Newark, Calif.-based company uses a sensor system to pinpoint the location indoors or outdoors where shots were fired and alert law enforcement. The system is in about 90 cities across the U.S. ShotSpotter plans to sell 2.8 million shares and list on the Nasdaq under the symbol “SSTI.” Roth Capital is the underwriter on the offering.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/trump-to-propose-balancing-budget-with-deep-cuts-2017-05-19
http://www.marketwatch.com/story/shotspotter-a-gunshot-detection-service-sets-price-range-for-336-million-ipo-2017-05-19
 
 
 
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