| The KUIK Market Update for Friday, April 17: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (265) | points | 17,841 | 7:54 AM | ||
| S&P500 | Down | -1.1% | percent | 2,083 | (22.44) | ||
| Nasdaq Composite | Down | -1.4% | percent | 4,936 | (72.06) | ||
| 30 Year Treasury | Up | 1 | Basis Points | 2.57 | Annual Yield | ||
| New regulations out of China today allowed fund managers to lend shares for short-selling and will also expand the number of stocks investors can sell short. The moves were announced by the Securities Association of China with the goal of increasing the supply of securities and cooling down markets. Government stimulus and a buying frenzy have driven the Shanghai Composite index 33% so far this year while the Hong Kong Hang Seng index 17%. The news drove sharp losses for Chinese stock-index futures, which in turn triggered drops in U.S. stock futures and European markets. | |||||||
| Oil services firm Schlumberger reported a 39% decline in first-quarter earnings and announced further layoffs, as lower oil prices has slowed drilling activity in North America. The company will cut 11,000 jobs, for a total reduction of about 15% compared with the peak of the third quarter of 2014. The company laid off 9,000 employees late last year. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/china-regulators-to-allow-short-selling-by-fund-managers-2015-04-17 | |||||||
| http://www.marketwatch.com/story/schlumberger-profit-falls-39-cuts-11000-jobs-2015-04-16 | |||||||
| For today’s Market Update Report click to listen-> | |||||||