The KUIK Morning Market Report for Tuesday, November 8:
Markets are down after yesterday’s big up day.
Index
Direction
Change
Units
Time
Dow
Down
(54)
points
18,206
7:01 AM
S&P500
Down
-0.3%
percent
2,126
Nasdaq Composite
Down
-0.3%
percent
5,151
30 Year Treasury
Down
(2)
Basis Points
2.58
Annual Yield
OPEC says 2016 marks a “turning point” for oil toward a more balanced market, but the lower price environment, market instability, and uncertain environmental policies will muddle the long-term outlook, in its annual report issued today. Crude is at $44.58 a barrel on the New York Merc, up more than 20% year to date, but they’re down by more than half from their peak above $105 in mid-June 2014. Output from non-OPEC oil producers has eased back this year, while world oil demand has remained around 1.2 million barrels a day.
If you are unhappy with the outcome of today’s election and thinking of moving north, Marketwatch reports “6 reasons to think twice before moving to Canada.” You’ll gain universal health care, but lose a few other things in the process. The six reasons are: 1. Immigration could be difficult — and expensive. 2. Depending on their citizenship status, Americans who move to Canada may still be subject to paying American taxes. 3. You’ll probably say goodbye to some of your favorite retail stores. 4. Housing costs are high. 5. Make sure you have a job lined up. 6. You’ll need to learn some new words to speak Canadian. Don’t forget to vote.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
