The KUIK Closing Market Report for Wednesday, May 31:
Markets were down.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(21)
points
21,009
2:32 PM
S&P500
Down
-0.1%
percent
2,412
(1.11)
Nasdaq Composite
Down
-0.1%
percent
6,199
(4.67)
30 Year Treasury
Down
(3)
basis points
2.86
Annual Yield
Oil futures fell today. Trader believe that the extended-production caps by major producers and the summer-driving season in the U.S. won’t do much to reduce global supplies. July crude fell 2.6% to $48,41 on the New York Merc. Tyler Richey, co-editor of the Sevens Report wrote: " The two major fundamental concerns regarding OPEC right now are efficacy of their current policy, which has barely reduced global stockpiles so far, and the rising likelihood that producers may begin to cheat as angst about losing market share to the U.S. grows.”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
