| The KUIK Market Update for Friday, August 21: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (264) | points | 16,727 | 8:16 AM | ||
| S&P500 | Down | -1.8% | percent | 2,000 | (36.06) | ||
| Nasdaq Composite | Down | -2.1% | percent | 4,773 | (104.60) | ||
| 30 Year Treasury | Unchanged | – | Basis Points | 2.75 | Annual Yield | ||
| Early today, the preliminary Caixin China Manufacturing Purchasing Managers’ Index, a gauge of nationwide manufacturing activity, fell to a 77-month low in August to 47.1, compared to a final read of 47.8 in July. The Shanghai Composite closed down 4.3% at 3,507.74, slightly above its July 8 low. That puts the index down 32% from its peak hit June 12. | |||||||
| U.S. manufacturers expanded in August but the growth tapered off to the slowest rate since October 2013, according to Markit. It’s preliminary purchasing Managers Index fell to 52.9 from 53.8 in July. Readings over 50 indicate that more manufacturers are growing instead of contracting. | |||||||
| Oil futures fell today, as that weaker-than-expected Chinese manufacturing set up crude prices for the eight straight weekly loss. October crude fell 1.7%, to $40.61 a barrel on the New York Merc, with prices prices for the most-active contracts on track for 4.4% loss for the week. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/oil-prices-under-pressure-in-asia-after-weak-chinese-manufacturing-data-2015-08-21 | |||||||
| http://www.marketwatch.com/story/us-markit-flash-pmi-falls-to-lowest-level-since-october-2013-2015-08-21?link=MW_home_latest_news | |||||||
| http://www.marketwatch.com/story/oil-prices-under-pressure-in-asia-after-weak-chinese-manufacturing-data-2015-08-21?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||