The KUIK Morning Market Report for Monday, February 8:
Markets are down.
Index Direction Change Units Time
Dow Down (332) points 15,871 7:21 AM
S&P500 Down -2.0% percent 1,842
Nasdaq Composite Down -2.4% percent 4,260
30 Year Treasury Down (7) Basis Points 2.61 Annual Yield
“The Stoxx Europe 600 index fell 2.4% to 318.12, putting it on track for its lowest close since October 2014, according to FactSet. The Chinese stock markets are closed all week to celebrate the Lunar New Year.Data out over the weekend showed China’s foreign-exchange reserves fell to the lowest level in more than three years in January, another sign of capital flight as the yuan weakens.
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Oil prices have started the week down in volatile trading today, on continuing fears about the global oversupply of crude. March West Texas Intermediate futures is off 1.7%, to $30.36 a barrel.
India said output expanded 7.3% in last year’s fourth quarter and is expected to grow 7.6% in the 12 months ending March 31, as consumer and government spending lift Asia’s No. 3 economy on declines in other developing countries. That has put India ahead of China as the world’s fastest-growing major economy. Manufacturing output increased by 12.6% in the three months that ended Dec. 31, according to the country’s Statistics Ministry.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/european-stocks-drop-to-15-month-low-2016-02-08
http://www.marketwatch.com/story/oil-pops-above-31-a-barrel-as-traders-keep-close-watch-on-the-dollar-2016-02-08
http://www.marketwatch.com/story/india-is-now-worlds-fastest-growing-major-economy-2016-02-08
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