The KUIK Closing Market Report for Friday, January 22:
Markets ended up.
Index Direction Change Units Index Time Change
Dow Up 211 points 16,094 1:09 PM
S&P500 Up 2.0% percent 1,907 37.91
Nasdaq Composite Up 2.7% percent 4,591 119.12
30 Year Treasury Up 2 Basis Points 2.82 Annual Yield
Oil production from OPEC fell by 130,000 barrels a day in December, to 32.4 million barrels, according to a survey by Platts. Platts attributs the decline to output cuts in Iraq, Nigeria and Saudi Arabia. The Saudis lowered output by 50,000 barrels a day to 10.1 million, but haven’t indicated that they are ready to abandon the “market-share strategy OPEC adopted in November 2014,
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/opec-oil-output-falls-130000-barrels-per-day-in-december-platts-2016-01-22?dist=afterbell
For today’s Closing Market Report click to listen->