| The KUIK Market Update for Friday, November 28: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 49 | points | 17,876 | 8:09 AM | ||
| S&P500 | Down | 0.0% | percent | 2,073 | (0.08) | ||
| Nasdaq Composite | Up | 0.4% | percent | 4,807 | 19.85 | ||
| 30 Year Treasury | Down | (3) | Basis Points | 2.91 | Annual Yield | ||
| Crude oil is down on news that OPEC will not cut production. January crude is off 5.7% to $69.08 a barrel. That is the lowest level since May of 2010. Oil prices are down almost 35% of since June and OPEC’s decision to maintain its current production ceiling at 30 million barrels a day does not remove the glut that is depressing oil prices. | |||||||
| U.S. stocks are mixed, with energy shares under pressure while airlines and retailers are up. Among major stock movers, Exxon Mobil is off 3.4%, while fellow Dow component Chevron dropped more than 5.7%. The Russian Ruble hit an all-time low of 49.90 Rubles per dollar, and continued to fall throughout the trading session. The Bank of Russia announced today it’s extending limits on currency swaps for the next two weeks in a move to discourage bets on a weaker ruble. | |||||||
| It’s a holiday shortened trading session today. Markets will close at 10 am Pacific time. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/oil-continues-to-collapse-a-day-after-opec-stands-firm-on-production-2014-11-28 | |||||||
| http://www.marketwatch.com/story/us-stocks-energy-firms-slammed-after-opec-agreement-2014-11-28?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||