The KUIK Morning Market Report for Tuesday December 6
Stocks opened higher.
Index
Direction
Change
Units
Time
Dow
Up
2
points
19,219
7:05 AM
S&P500
Unchanged
0.0%
percent
2,206
Nasdaq Composite
Up
0.1%
percent
5,314
30 Year Treasury
Unchanged
0
Basis Points
3.06
Annual Yield
Factory orders jumped 2.7% in October, the fourth straight monthly gain and the largest since January 2015, the Commerce Department reported Today. Economists polled by MarketWatch had expected a gain of 2.8% for overall factory orders. Factory orders have been are showing some signs of recovery after two years of weakness.
Today oil prices slipped off previous one-year highs, as traders took profits following the sharp rally that followed last week’s decision by OPEC to cut production. Brent crude fell 37 cents to $54.56 a barrel. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 61 cents, to $51.20 a barrel. Yesterday both markets hit their highest levels since July 2015.
Gold prices declined Monday as Italian voters rejected reforms amid prospects that the Federal Reserve may tighten monetary policy at a faster pace. February Gold delivery declined $1.30, to $1176.50 an ounce. March silver delivery was at $16.90 an ounce.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
