| The KUIK Morning Market Report for Tuesday, September 1: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (384) | points | 16,144 | 7:09 AM | ||
| S&P500 | Down | -2.3% | percent | 1,927 | (45.48) | ||
| Nasdaq Composite | Down | -2.0% | percent | 4,682 | (94.32) | ||
| 30 Year Treasury | Up | 1 | Basis Points | 2.94 | Annual Yield | ||
| China’s official manufacturing purchasing managers index fell to 49.7 in August from 50.0 in June, according to the China Federation of Logistics and Purchasing. That is a three year low and short of the 49.8 forecast from a Wall Street Journal poll of economists. Below 50 indicates contraction. Both new orders and production fell. | |||||||
| The Organization of the Petroleum Exporting Countries yesterday said there is “no quick fix” for the low oil-price environment and voiced concern about its impact on the petroleum industry. West Texas Intermediate and Brent crude futures are down about 50% from a year ago. Richard Hastings, macro strategist at Global Hunter Securities. “OPEC is losing the shale war. Their economies are not diversified. Without oil prices at exceptionally high prices, then they are staring at big troubles.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/china-factory-activity-slips-to-3-year-low-2015-09-01 | |||||||
| http://www.marketwatch.com/story/opec-says-theres-no-quick-fix-for-low-oil-prices-2015-08-31 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||