| The KUIK Market Update for Wednesday, September 23: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (14) | points | 16,314 | 7:46 AM | ||
| S&P500 | Up | 0.1% | percent | 1,945 | 2.73 | ||
| Nasdaq Composite | Up | 0.3% | percent | 4,770 | 13.46 | ||
| 30 Year Treasury | Up | 5 | Basis Points | 2.98 | Annual Yield | ||
| Things are still slowing in China. The preliminary Caixin China Manufacturing Purchasing Managers’ Index, which measures nationwide manufacturing activity, fell to 47.0 in September, down from 47.3 in August. That is the lowest since March 2009, when China was dealing with the global financial crisis. Reading above 50 indicates expansion. The Shanghai Composite Index closed down 2.2% to 3116. | |||||||
| U.S. manufacturers matched the slowest pace of growth in September in 22 months, according to the preliminary reading from Markit. The flash PMI was unchanged at 53.0 last month, hitting the lowest level since October 2013. Readings over 50 indicate growth, but manufacturers have been hurt by a stronger dollar and a weaker global economy. Lower oil prices have also cut demand for rigs and other equipment used by the energy industry. Markit also said its Eurozone PMI fell in September. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/china-factory-gauge-reaches-new-low-in-september-2015-09-23 | |||||||
| http://www.marketwatch.com/story/flash-us-markit-manufacturing-index-flat-in-september-2015-09-23 | |||||||
| For today’s Market Update Report click to listen-> | |||||||