Morning Market Report 8/17/2015

The KUIK Morning Market Report for Monday, August 17:
Markets are down.
Index Direction Change Units Time Change
Dow Down                    (125)  points           17,352 6:49 AM
S&P500 Down -0.6% percent            2,080           (11.90)
Nasdaq Composite Down -0.5% percent            5,025           (23.34)
30 Year Treasury Down                        (3) Basis Points              2.81 Annual Yield
The Empire State general business conditions index had a big drop to negative 14.9, down from from positive 3.9 in July, marking the worst level since April 2009, according to the the New York Federal Reserve. Any positive number indicates improving conditions, and it was worse than the positive 4.5 forecast by economists. New orders and shipments both fell, as well as unfilled orders, delivery time, inventories, and average employee workweek.  Prices received was still barely positive.  Future business activity rose.
September crude is down 0.6% to $42.24 a barrel on the New York Merc. Morgan Stanley said it is worried about crude fundamentals and prices in its weekly report. It warned that oil demand is already near peak seasonal levels and will fall in the coming weeks as summer demand drop. Oil production from OPEC has grown significantly this year, and the U.S. dollar is expected to strengthen further, hurting oil prices.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/empire-state-index-tumbles-to-recession-era-levels-2015-08-17?dist=beforebell
http://www.marketwatch.com/story/oil-dips-further-nymex-crude-under-42-a-barrel-2015-08-17-11031345
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