The KUIK Morning Market Report for Tuesday, February 16:
Markets are up.
Index Direction Change Units Time
Dow Up 103 points 16,074 6:53 AM
S&P500 Up 0.8% percent 1,880
Nasdaq Composite Up 1.3% percent 4,394
30 Year Treasury Up 3 Basis Points 2.64 Annual Yield
U.S. markets were closed yesterday for the Presidents Day holiday, but stock futures rallied in a shortened trading session. Today, markets were initially boosted by hopes that major oil producers would agree on cutting oil production at a meeting in Doha, Qatar. At the talks, energy ministers from Saudi Arabia, Russia, Venezuela and Qatar agreed to freeze their crude-oil production at January levels, but only if other major oil nations follow suit. They did not propose a cut in output. Oil futures fell from from their premeeting high of $31.53 to trade again below $30 a barrel, pushing European stocks and U.S. stock futures lower.
In Frankfurt, the DAX 30 fell 0.9% to 9,127.02 after the ZEW survey for February fell to 1.0 in economic expectations, the lowest level since October 2014. January’s reading was 10.2. Current conditions came in at 52.3, down from January’s 59.7.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/dow-futures-rally-almost-200-points-as-investors-warm-to-risk-2016-02-16
http://www.marketwatch.com/story/european-stocks-struggle-after-oil-rally-wilts-german-data-slump-2016-02-16
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