Morning Market Report 7/9/2012

This is Bill Roller of BR Capital with the KUIK Morning Market Report for Monday, July, 9.
Markets are down this morning.
Index Direction Change Units Last 8:12 AM
Dow Down                    (53) points             12,720
S&P500 Down -0.35% percent               1,350
Nasdaq Composite Down -0.32% percent               2,928
30 Year Treasury Down                     (1.9) basis points                 2.65
The yield on Spain’s 10-year government bond pushed above the key 7% level to 7.04%, continuing a march higher that began last week. Government borrowing costs above 7% are considered unsustainable and indicate a risk of default.
The Norwegian oil and gas company Statoil said it is preparing to shut down its production on the Norwegian continental shelf at midnight after negotiations   to end a strike over pensions broke down Sunday. The lockout will prevent all 6,500 oil employees in 50 companies from going to work.  The area produces 3.8 million barrels of oil a day and total oil and gas production is $300 million dollars per day.
Always serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/oil-futures-boosted-by-possible-norway-shutdown-2012-07-09
http://www.marketwatch.com/story/statoil-prepares-to-shut-output-strike-continues-2012-07-09
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