| The KUIK Morning Market Report for Friday, July 24: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (9) | points | 17,723 | 7:13 AM | ||
| S&P500 | Down | -0.1% | percent | 2,100 | (2.12) | ||
| Nasdaq Composite | Up | 0.2% | percent | 5,155 | 8.80 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 2.97 | Annual Yield | ||
| Shanghai ended lower Friday, but capped its third-straight week of gains, while the rest of Asia struggled to shake off weakness pegged to disappointing earnings especially Apple in the U.S. The Shanghai Composite Index closed down 1.3% at 4070.91, snapping a six-day rally, but gained 2.9% for the week. It’s up 16.1% from the lowest point of the recent selloff, hit on July 8. | |||||||
| Here in the US, the preliminary reading of the Markit manufacturing purchasing managers index rose slightly to 53.8 in July up from a 20-month low of 53.6 in June. The rebound was led by stronger output and order growth. Readings above 50 indicate improving conditions. | |||||||
| House Speaker John Boehner, said yesterday that there won’t be a federal-government shutdown this year, and Congress will work on a temporary spending measure in September, once lawmakers return from their summer recess. The measure will be needed to avoid the Sept. 30 deadline, but details haven’t been decided. Analysts estimate that Congress will have to raise the debt ceiling sometime in next two months. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/chinese-shares-hold-onto-gains-as-rest-of-asia-struggles-2015-07-24 | |||||||
| http://www.marketwatch.com/story/us-markit-flash-pmi-rises-to-538-in-july-from-20-month-low-in-june-2015-07-24 | |||||||
| http://www.marketwatch.com/story/house-speaker-boehner-there-will-not-be-a-government-shutdown-2015-07-23 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||