| The KUIK Morning Market Report for Wednesday, August 12: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (208) | points | 17,195 | 7:09 AM | ||
| S&P500 | Down | -1.1% | percent | 2,061 | (23.27) | ||
| Nasdaq Composite | Down | -1.2% | percent | 4,977 | (59.46) | ||
| 30 Year Treasury | Unchanged | – | Basis Points | 2.80 | Annual Yield | ||
| The Chinese yuan fell 1.6% against the U.S. dollar after the People’s Bank of China lowered its daily reference rate to the U.S. dollar. The move came after China surprised international markets Tuesday by dropping the rate 1.9%, saying it would take into account the closing market level when setting it’s exchange rate. | |||||||
| The Stoxx Europe 600 index fell 1.6% to 387.52, building on a 1.6% loss from Tuesday, when markets globally were hit by that yuna devaluation. Analysts interpreted the move as the restart of “currency wars” where major economies battle to weaken their currencies in a bid to spur growth and boost exports. | |||||||
| Gold futures are up, continuing what has amounted to a five-day rally. December gold rose 1%, to trade at $1,118.10 an ounce and September silver gained 0.1% to $15.41 an ounce. | |||||||
| 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/china-concerns-slam-european-stocks-lower-for-second-day-2015-08-12 | |||||||
| http://stream.marketwatch.com/story/markets/SS-4-4/SS-4-84745/ | |||||||
| For today’s Morning Market Report click to listen-> | |||||||