| The KUIK Market Update for Friday, November 21: | |||||||
| Markets are up | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 127 | points | 17,844 | |||
| S&P500 | Up | 0.7% | percent | 2,066 | 19 | ||
| Nasdaq Composite | Up | 0.4% | percent | 4,721 | 13 | ||
| 30 Year Treasury | Up | (2) | Basis Points | 3.04 | Annual Yield | ||
| A surprise rate cut from China’s central bank coupled with dovish comments from European Central Bank President Mario Draghi sent U.S. stocks soaring in early trade. Draghi said the ECB will do what it “must to raise inflation and inflation expectations as fast as possible,” at a banking conference in Frankfurt. And China’s central bank cut its one-year loan and one-year deposit rate to stimulate its economy. Energy and materials sector stocks lead gains on the S&P500. Oil prices have fallen more than 30% since June, as investors are concerned about production outpacing demand, but have seen gains for the past two days. | |||||||
| House Republicans today filed a lawsuit against the Obama administration over the Affordable Care Act. Last summer, the House passed a resolution authorizing the suit, against the secretaries of Health and Human Services and the Treasury. The suit focuses on the postponement of the mandate for employers to provide insurance or pay a fine and illegal transfers of funds to insurance companies. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-stocks-soar-at-open-sp-500-dow-at-records-2014-11-21?dist=markets | |||||||
| http://www.marketwatch.com/story/house-republicans-file-lawsuit-challenging-obamacare-2014-11-21 | |||||||
| For today’s Market Update Report click to listen-> | |||||||