| The KUIK Morning Market Report for Friday, November 28: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 49 | points | 17,876 | 7:05 AM | ||
| S&P500 | Down | -0.1% | percent | 2,072 | (1.06) | ||
| Nasdaq Composite | Up | 0.3% | percent | 4,799 | 11.80 | ||
| 30 Year Treasury | Down | (2) | Basis Points | 2.92 | Annual Yield | ||
| Swiss voters will decide November 30 on an initiative that would required the country’s central bank to more than double its gold holdings, a prospect that has rattled markets and drawn opposition from the government and business groups. The “Save Our Swiss Gold” initiative would require the Swiss National Bank to hold a fifth of its assets in gold within five years. It would also prohibit the bank from selling any of its gold in the future and require that Swiss gold held overseas return to Switzerland. The vote is being organized by the conservative Swiss People’s Party. It says the new rules are needed because a three-year effort to cap the strength of the Swiss franc has left the bank holding piles of euros and those euros have linked Switzerland to a currency that has been devalued in the wake of the financial crisis. | |||||||
| 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. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/swiss-to-vote-on-central-banks-gold-2014-11-23-184851454 | |||||||
| http://www.marketwatch.com/story/oil-continues-to-collapse-a-day-after-opec-stands-firm-on-production-2014-11-28 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||