The KUIK Morning Market Report for Thursday, January 7:
Markets are down.
Index Direction Change Units Time
Dow Down (224) points 16,704 7:06 AM
S&P500 Down -1.5% percent 1,960
Nasdaq Composite Down -2.0% percent 4,737
30 Year Treasury Up 1 Basis Points 2.95 Annual Yield
“In China the Shanghai Composite Index finished down -7.04% to 3,125, bringing losses over four trading days to 11.7%. It is on track for the largest weekly loss since August 21. Markets fell before triggering a circuit breaker, which froze trading for the day outside Hong Kong 30 minutes into the session. It was the second circuit breaker this week and made the shortest trading day in the market’s 25-year history. This morning, China suspended the circuit breaker system.
Here in the US, 277,000 people filed initial jobless claims in the week ended Jan 2. That is down 10,0000 from an unrevised 287,000 the week before. Continuing claims increased by 25,000 to 2.23 million the week ended January 2, but are down 8.3% compared to a year ago.
February crude is off 1.6% to $33.34 on the New York Merc. Earlier West Texas Intermediate fell as low as $32.10 a barrel, lowest level since December 2003.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/china-trading-halted-early-again-asian-markets-slide-in-response-2016-01-06
http://www.marketwatch.com/story/jobless-claims-finish-2015-at-lowest-level-since-1973-2016-01-07
http://www.marketwatch.com/story/crude-below-33-as-oil-prices-fall-to-lowest-in-over-a-decade-2016-01-07
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