| The KUIK Market Update for Wednesday, April 8: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 16 | points | 17,891 | 8:04 AM | ||
| S&P500 | Up | 0.1% | percent | 2,079 | 2.93 | ||
| Nasdaq Composite | Up | 0.5% | percent | 4,935 | 24.99 | ||
| 30 Year Treasury | Up | 1 | Basis Points | 2.54 | Annual Yield | ||
| Investors are looking to minutes of the Federal Open Market Committee’s last meeting, due at 11 am Pacific time, to shed light on the timing and subsequent pace of interest-rate increases. Fed Governor Jerome Powell said today that hidden slack in the labor market justifies a gradual approach to tightening after an initial interest-rate increase, which he expects later this year. | |||||||
| Oil futures extended losses today after the U.S. Energy Information Administration said domestic commercial crude inventories rose by 10.9 million barrels to 482.4 million, the highest level for this time of year in at least 80 years. Domestic oil production rose by 18,000 barrels a day to 9.404 million barrels. Analysts surveyed by The Wall Street Journal forecast a rise in inventories of 3.4 million barrels. Oil futures extended losses, with May West Texas Intermediate crude falling 4.3%, to $51.66 a barrel. | |||||||
| Insurance company American International Group announced has received Federal Aviation Administration approval to operate small unmanned aerial vehicles to conduct inspections for risk assessment and management. It said drones can survey disaster areas and take high-resolution images for assessing claims, accelerating the entire process. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/articles/2015-04-08/u-s-index-futures-rise-before-fed-minutes-amid-earnings-season | |||||||
| http://www.marketwatch.com/story/oil-futures-extend-drop-after-crude-inventories-jump-2015-04-08?dist=lcountdown | |||||||
| http://www.marketwatch.com/story/aig-wins-faa-approval-for-commercial-use-of-small-unmanned-aerial-vehicles-2015-04-08-9912757 | |||||||
| For today’s Market Update Report click to listen-> | |||||||