| The KUIK Morning Market Report for Friday, March 14: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 11 | points | 16,121 | 6:58 AM | ||
| S&P500 | Unchanged | 0.00% | percent | 1,846 | 0.09 | ||
| Nasdaq Composite | Down | -0.19% | percent | 4,252 | (7.99) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.58 | Annual Yield | ||
| The U.S. government announced today that it is putting up to 5 million barrels of oil from the Strategic Petroleum Reserve for sale. The Department of Energy said it will conduct a “test drawdown and sale” to assess the distribution system. Prices for West Texas Intermediate crude fell 2%. The U.S. Energy Information Administration reported that crude supplies for the week ended March 7 climbed 6.2 million barrels — nearly three times more than the market expected. That marked the eighth-consecutive week of inventory increases. | |||||||
| Banks are cutting China’s growth forecasts. For 2014 as a whole, Merrill Lynch is calling for GDP to rise 7.2%, down from their earlier projection of 7.6%, but do not see a hard landing for the Chinese economy. Nomura cut its forecast 7.3% year-on-year from 7.5%. | |||||||
| U.S. producer prices fell in February for the first time in three months in another sign that inflationary pressures are contained. The producer price index dipped 0.1% on a seasonally adjusted basis, the Labor Department said Friday. The price of goods rose 0.4% last month, but the cost of services fell 0.3%. Economists polled by MarketWatch expected an increase by 0.2%, but the index underwent a major overhaul this year for the first time since 1978, and that’s making it more difficult to forecast. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/oil-sale-from-spr-raises-questions-of-timing-politics-2014-03-14 | |||||||
| http://blogs.marketwatch.com/thetell/2014/03/14/big-investment-banks-rush-to-cut-china-growth-forecasts/ | |||||||
| http://www.marketwatch.com/story/us-wholesale-prices-fall-slightly-in-february-2014-03-14 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||