| The KUIK Morning Market Report for Tuesday, November 4: | |||||||
| Markets are mixed at the open this election day. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 4 | points | 17,371 | 6:59 AM | ||
| S&P500 | Down | -0.2% | percent | 2,014 | (3.34) | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,632 | (6.52) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.05 | Annual Yield | ||
| Crude-oil prices hit multi-year lows today on Saudi Arabia’s announcement it will cut the price of oil sold to U.S.buyers but raise it for Asia. On the news, December crude traded down 3% tp $76.35 a barrel in electronic trading on the New York Merc. The price cut for the U.S. market is seen as stiffer competition for U.S. domestic crude production. Putting further pressure on oil was news that the European Commission cut its growth forecasts for the 18-countries in the eurozone. | |||||||
| The US trade deficit rose 7.6% in September to the highest level since spring as exports to Europe, China, and Japan all fell, a sign that slower growth in the economies of key trading partners is starting to pinch the United States. The Commerce Department reports September’s trade gap climbed to a seasonally adjusted $43 billion up from revised $40 billion in August. Economists expected $41.1 billion. | |||||||
| In an interview today on Fox Business Network St. Louis Fed President James Bullard said the economy is on track to grow at a 3% annual rate over the next 14 months, which should allow the Federal Reserve to move ahead with plans to hike short-term interest rates next year. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/oil-slides-on-speculation-about-saudis-pricing-strategy-2014-11-04-310308 | |||||||
| http://www.marketwatch.com/story/us-trade-deficit-surges-76-in-september-2014-11-04 | |||||||
| http://www.marketwatch.com/story/feds-bullard-expects-first-rate-hike-next-year-2014-11-04 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||