| The KUIK Market Update for Friday, September 11: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (53) | points | 16,277 | 7:57 AM | ||
| S&P500 | Down | -0.6% | percent | 1,942 | (10.73) | ||
| Nasdaq Composite | Down | -0.6% | percent | 4,767 | (29.74) | ||
| 30 Year Treasury | Down | (5) | Basis Points | 2.94 | Annual Yield | ||
| Oil prices that have reached their lowest levels since the financial crisis have “dimmed the prospects for a recovery in U.S. drilling activity,” according to the International Energy Agency in its monthly oil market report. The agency said tight oil, expensive-to-pump crude that has driven American production in recent years–would decline by 400,000 barrels a day in 2016, a fall that already began in July. Along with expected drops in Russian and North Sea output in 2016, production outside of OPEC could see the steepest cuts since the fall of the Soviet Union. | |||||||
| Consumer sentiment in September dove,fell according to the latest poll from the University of Michigan. Its index fell to 85.7 from 91.9 in August, below the consensus reading of 90.3, and the lowest level since September 2014. | |||||||
| The producer price index, which includes wholesale costs, was unchanged in August according to the Labor Department. Economists expected a seasonally adjusted 0.2% decline. The wholesale cost of goods sank 0.6% last month, with two-thirds of the decline tied to cheaper gasoline. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/iea-forecasts-deep-cuts-to-us-oil-production-2015-09-11 | |||||||
| http://www.marketwatch.com/story/consumer-sentiment-tumbles-in-september-2015-09-11?dist=lcountdown | |||||||
| http://www.marketwatch.com/story/us-producer-prices-flatten-out-in-august-on-cheaper-gas-2015-09-11?link=MW_home_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||