Market Update Report 6/16/2017

The KUIK Market Update for Friday, June 16:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (26) points 21,334 7:56 AM
S&P500 Down -0.4% percent 2,424 (8.67)
Nasdaq Composite Down -0.6% percent 6,130 (35.09)
30 Year Treasury Down (1) Basis Points 2.78 Annual Yield
Amazon.com announced that it’s acquiring Whole Foods for $42 per share in an all-cash transaction of about $13.7 billion, including Whole Foods’ debt. The deal gives a $13.4 billion market cap for the natural and organic grocer. Whole Foods will continue to operate under the Whole Foods brand, and John Mackey will continue as chief executive with its headquarters rstaying in Austin, Tex. They expect the transaction to close during the second half of 2017. Amazon shares are are up 3.0%, and Whole Foods shares are up 27%.
The University of Michigan Consumer Sentiment Survey for June fell to 94.5 down from 97.1 in May. That’s the lowest reading since November. Economists expected 97.3. The drop in sentiment masked a larger decline since June 8 when former FBI Director James Comey testified to the Senate Intelligence Committee. Prior to the testimony, the averaged 97.7, but since June 8 the index registered 86.7, a decline of 11 points. The decline was observed across both political parties, but Republicans had the bigger loss of confidence.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/amazon-to-acquire-whole-foods-in-137-billion-deal-2017-06-16
http://www.marketwatch.com/story/consumer-sentiment-plummets-after-comey-testimony-university-of-michigan-says-2017-06-16
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