The KUIK Morning Market Report for Monday, January 8:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(48)
points
25,248
7:15 AM
S&P500
Down
-0.2%
percent
2,739
(0.02)
Nasdaq Composite
Down
-0.2%
percent
7,126
(8.63)
30 Year Treasury
Down
(2)
Basis Points
2.79
Annual Yield
Nvidia announced at a pre-Consumer Electronics Show news conference in Las Vegas lat night that it will supply self-driving hardware for Uber, which is the largest U.S. ride-hailing company. Both companies have a seperate relationships with Volvo. As part of the announcement, Uber said its autonomous cars which are mostly Volvos with Nvidia hardware have driven more than 2 million miles, with more than 1 million in just the past 100 days.
The Stoxx Europe 600 index was up 0.2% to 398.19, led by the basic materials and financials. Tech, utility and consumer-goods shares are lower. On Friday the index finished at its highest level since August 2015, according to FactSet, and was up 2.1% for the week.
Cruse oil is up 0.1% to $61.60 a barrel on the New York Merc. Last Friday weekly data from Baker Hughes showed the number of active U.S. rigs drilling for oil unexpectedly fell by five to 742. That indicates production could slow down, which usually is a positive factor for oil prices.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
