Morning Market Report 7/9/2014

July 9, 2014
The KUIK Morning Market Report for Wednesday, July 9:
Markets are up.
Index Direction Change Units Time Change
Dow Up                     27 points           16,934 7:09 AM
S&P500 Up 0.2% percent             1,967             3.51
Nasdaq Composite Up 0.1% percent             4,395             3.22
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.
 Erasing earlier gains, European stock markets headed for a fourth straight day in the red today. The Stoxx Europe 600 index ave up 0.3% to 339.12, after posting the biggest loss in four months yesterday. The losses have come after global stock markets last week traded at record highs, creating fears of an asset bubble and spurring concerns that a correction is due. A string of disappointing German data has also highlighted weaknesses in that economy.
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://www.marketwatch.com/story/european-markets-rebound-after-three-day-selloff-2014-07-09
For today’s Morning Market Report click to listen->