| The KUIK Morning Market Report for Tuesday, October 23: | |||||||
| Markets are down this morning. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (237) | points | 13,109 | 7:54 AM | ||
| S&P500 | Down | -1.7% | percent | 1,410 | (23.73) | points | |
| Nasdaq Composite | Down | -1.2% | percent | 2,979 | (37.56) | points | |
| 30 Year Treasury | Down | (5) | Basis Points | 2.90 | Annual Yield | ||
| Iran will suspend all oil exports, pushing global crude prices higher, if the U.S. and Europe tighten sanctions further on the OPEC member’s economy, Oil Minister Rostam Qasemi warned. Iran’s oil exports have dwindled in the face of U.S. and EU sanctions on its energy and financial industries. The International Energy Agency reported that Iranian shipments slumped to 860,000 barrels a day in September from 1.1 million barrels in August. About 40 percent of Iran’s exports last month were destined for China, according to tanker-tracking data compiled by Bloomberg. | |||||||
| Hurting the averages IBM, FedEx and McDonald’s all issued results that disappointed investors. Dow component DuPont is down after saying it would cut 1,500 employees and reporting a quarterly profit below estimates. Two other Dow components added to investor worries. 3M declined 3.3% after the manufacturer reported a 6.7% profit gain in the third quarter, but reduced its outlook for the full year. And, United Technologies pointed to soft demand from airlines in narrowing its sales outlook for 2012. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2012-10-23/iran-to-halt-oil-exports-if-sanctions-intensify-qasemi-says-1-.html | |||||||
| http://www.marketwatch.com/story/us-stocks-tumble-on-corporate-results-2012-10-23?dist=lcountdown | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Morning-Market-Report.mp3 | ||||||
| Shortlink-> | |||||||