Morning Market Report 5/1/2015

May 1, 2015
The KUIK Morning Market Report for Friday, May 1:
Markets are up.
Index Direction Change Units Time Change
Dow Up                     100 points           17,941 7:04 AM
S&P500 Up 0.6% percent            2,098            12.84
Nasdaq Composite Up 0.8% percent            4,978            36.99
30 Year Treasury Up                         4 Basis Points              2.79 Annual Yield
The second and final reading of U.S. manufacturing conditions in April was revised down a tick to 54.1 from a preliminary 54.2, according to Markit. The index fell from 55.7 in March and touched a three-month low. Readings over 50 indicate growth, but manufacturers have been hurt by a stronger dollar that’s curbed exports as well as fewer sales to U.S. energy companies that have slashed investment amid sharply lower oil prices.
June crude fell 0.3% to $59.48 a barrel on the New York Merc. Futures finished yesterday’s session higher by 1.8%, as a weekly decline in crude inventories at the U.S. storage hub fueled expectations that the production and supply gluts will ease.  Oil futures are on track for  a 4.1% weekly gain. That would be oil’s seventh-consecutive weekly rise.
A federal judge ordered American Express to let merchants steer customers to other forms of plastic payments, including debit cards.  The order implements a February ruling by U.S. District Judge Nicholas Garaufis that New York-based American Express violated antitrust laws by not permitting merchants to encourage customers to use cheaper cards.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/markits-april-pmi-shows-slower-us-manufacturing-growth-2015-05-01?link=MW_Nav_EP
http://www.marketwatch.com/story/oil-futures-slip-but-stay-on-track-to-add-to-run-of-weekly-wins-2015-05-01
http://www.marketwatch.com/story/judge-orders-american-express-to-revise-merchant-agreements-2015-04-30-191032353
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