| The KUIK Market Update for Wednesday, August 12: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (216) | points | 17,188 | 8:15 AM | ||
| S&P500 | Down | -1.2% | percent | 2,059 | (24.97) | ||
| Nasdaq Composite | Down | -1.3% | percent | 4,970 | (67.20) | ||
| 30 Year Treasury | Down | (3) | Basis Points | 2.77 | Annual Yield | ||
| The Chinese yuan fell 1.6% against the U.S. dollar after the People’s Bank of China lowered its daily exchange rate. The move came after China surprised international markets yesterday by dropping the rate 1.9%, saying it would take into account the closing market level when setting it’s exchange rate. | |||||||
| Crude-oil futures trimmed gains Wednesday afte the Energy Information Administration said crude-oil inventories, excluding the Strategic Petroleum Reserve, fell by 1.68 million barrels to almost 454 million barrels. Analysts surveyed by oil-data firm Platts forecast a drop of 1.9 million barrels. Nymex September crude was up 0.6%, at $43.33 a barrel. The EIA also said gasoline inventories fell by 1.3 million barrels. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/asia-stock-slump-deepens-after-china-devaluation-move-2015-08-12 | |||||||
| http://www.marketwatch.com/story/oil-futures-trim-gains-after-smaller-than-expected-fall-in-inventory-2015-08-12?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||