| The KUIK Market Update for Wednesday, October 8: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (45) | points | 16,675 | 8:01 AM | ||
| S&P500 | Down | -0.4% | percent | 1,927 | (7.99) | ||
| Nasdaq Composite | Down | -0.6% | percent | 4,361 | (24.35) | ||
| 30 Year Treasury | Down | (0) | Basis Points | 3.05 | Annual Yield | ||
| Many indicators point to more slack in the labor market than indicated by the unemployment rate alone, said Charles Evans, the president of the Chicago Fed. In a speech today he said “It is hard to imagine a robust labor market without solid growth in wages.” 3% to 4% growth would be more normal than the 2% rate experienced over the past six years. Evans said said he thinks the Fed should be “exceptionally patient” before it raises short-term interest rates for the first time. | |||||||
| Good news at the pump. Crude-oil inventories rose by 5 million barrels in the week ended Oct. 3, according to the Energy Information Administration. Analysts polled by Platt expected only 2.1 million barrels. November crude fell 1.9%, to $87.13 a barrel on the New York Merc. Gasoline inventories rose 1.2 million and analysts expected a drop of 1.1 million barrels. | |||||||
| The International Monetary Fund today urged policymakers to do more to get rid of bad loans on the books of European banks, saying the loan have made it tougher for banks to lend and also hampered demand from companies. Since 2009, nonperforming loans across Europe has doubled, and now stands at more than $1.01 trillion. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/fed-evans-jobless-rate-overstates-labor-market-health-2014-10-08 | |||||||
| http://www.marketwatch.com/story/oil-futures-add-to-losses-after-surprise-supply-increase-2014-10-08?link=MW_home_latest_news | |||||||
| http://www.marketwatch.com/story/imf-says-europe-needs-to-do-more-about-bad-loans-2014-10-08 | |||||||
| For today’s Market Update Report click to listen-> | |||||||