The KUIK Morning Market Report for Tuesday, November 7:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
46
points
23,594
7:15 AM
S&P500
Up
0.2%
percent
2,595
1.37
Nasdaq Composite
Down
-0.1%
percent
6,786
30 Year Treasury
Down
(1)
Basis Points
2.79
Annual Yield
The market for public cloud-computing services surged in the first half of 2017, largely due to a big rise in spending from Chinese companies. Sales of public cloud services grew by nearly 29% to $63.26 billion in the first half of 2017 from the year-ago period, according to a report released Monday by International Data Corp.The biggest surge came from the Asia/Pacific region, which saw a 38.9% rise in sales, accounting for 11.5% of public cloud service revenues, IDC said. The force behind that was China, where spending soared 55.6% from the year-ago period.
Crude oil is down today after its best gains in nearly a year yesterday following political upheaval in Saudi Arabia. Over the weekend, Saudi Arabia’s crown prince arrested a number of political rivals in what was justified as a crackdown on corruption. The arrests consolidated power for Crown Prince Mohammed bin Salman, a pro-OPEC force in Saudi politics, making it more likely that the oil cartel’s production caps will be extended. A deal among OPEC members is set to expire in March 2018. December crude is down almost 0.5% to $57.22 a barrel on the New York Merc.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
