| The KUIK Market Update for Monday, March 9: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 86 | points | 17,940 | 8:04 AM | ||
| S&P500 | Up | 0.2% | percent | 2,075 | 3.89 | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,923 | (4.46) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 2.80 | Annual Yield | ||
| The European Central Bank started its $65 billion a-month bond-buying program, aimed at lifting inflation and boosting growth in the region. According to Bloomberg, the central bank bought German and Italian debt on its first QE day, as well as Belgian and French securities. Bond yields were down across Europe with the exception of Greece. Eurozone finance ministers gather in Brussels today to discuss the next round of financial aid for the country, but tensions were high before the meeting started. | |||||||
| OPEC’s top official said yesterday that the cartel’s decision to keep pumping crude in the face of collapsing prices is hurting the U.S. shale-oil industry and a global pullback on investment could lead to a shortage that will push the market upward again. “Projects are being canceled. Investments are being revised. Costs are being squeezed,” said Abdalla Salem el-Badri, secretary general of the Organization of the Petroleum Exporting Countries, at the Middle East Oil and Gas conference in Bahrain. “If we don’t have more supply, there will be a shortage and the price will rise again.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/european-bond-yields-drop-as-ecb-launches-qe-2015-03-09 | |||||||
| http://www.marketwatch.com/story/opec-chief-says-cartel-hurting-us-shale-producers-2015-03-08 | |||||||
| For today’s Market Update Report click to listen-> | |||||||