| 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 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||