Morning Market Report 8/11/2015

The KUIK Morning Market Report for Tuesday, August 11:
Markets are down.
Index Direction Change Units Time Change
Dow Down                    (175)  points           17,556 7:06 AM
S&P500 Down -0.8% percent            2,088           (16.55)
Nasdaq Composite Down -0.6% percent            5,070           (31.35)
30 Year Treasury Down                        (7) Basis Points              2.83 Annual Yield
The People’s Bank of China’s devalued the yuan by 1.9% early today.  The Chinese central bank stressed the move was a one-off depreciation to allow its currency to be driven by market forces. Analysts fear it could be the beginning of a currency war. It also fueling speculation that the move could delay the first interest-rate hike here in the US by the Federal Reserve in nearly a decade. The yuan had its largest one-day loss in twnety years following the surprise move and is an effort to protect Chinese export markets.
U.S. productivity in the second quarter rose by a 1.3% annual pace after two straight negative quarters. Output increased 2.8% in the second quarter while hours worked rose 1.5%, according to the Labor Department.  On a year-on-year basis, productivity remains anemic, rising 0.3%. Unit-labor costs, meanwhile, rose by a 0.5% annual rate in the second quarter after a 2.3% rise in the first.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/return-of-currency-war-and-a-drag-on-fed-rate-hike-analysts-on-the-surprise-yuan-devaluation-2015-08-11
http://www.marketwatch.com/story/us-productivity-rises-13-in-second-quarter-after-two-negative-quarter-2015-08-11
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