Market Update Report 7/9/2014

July 9, 2014
The KUIK Market Update for Wednesday, July 9:
Markets are up.
Index Direction Change Units Time Change
Dow Up                     38 points           16,944 7:52 AM
S&P500 Up 0.3% percent             1,970             6.25
Nasdaq Composite Up 0.5% percent             4,412            20.86
30 Year Treasury Down                      (0) Basis Points               3.38 Annual Yield
Markets are waiting for the minutes from the most recent Federal Open Market Committee meeting due to be released at 11 a.m. Pacific Time.They may shed some light on how and when the Fed will hike interest rates.
August crude is down 0.2% to $103.20 a barrel on the New York Merc on expectations of increased supply. The Wall Street Journal reported that Libya’s largest oil field, Sharara, is resuming production and could reach two-thirds of its 340,0000 barrel-a-day capacity by the end of today. According to Commerzbank, with the two largest oil terminals that have now reopened in the east of the country, Libya could increase its production volume by more than 800,000 barrels per day in the near future.
National Journal reports House Republicans are gearing up for a highly visible three-week process of getting legislation to the floor authorizing a lawsuit against President Obama over his executive actions. The aim is to display a deliberative process and build toward a floor vote before the House adjourns on July 31. House Speaker John Boehner has so far given few public details of what will be in the lawsuit. Obama, meanwhile, has called it a “stunt.”
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/us-stocks-futures-hold-steady-ahead-of-fomc-2014-07-09
http://www.marketwatch.com/story/oil-down-for-9th-straight-session-as-libya-output-returns-2014-07-09
http://blogs.marketwatch.com/capitolreport/2014/07/09/boehners-lawsuit-against-obama-takes-shape-and-more-must-reads/
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