Market Update Report 5/11/2015 | Beacon Rock Wealth Advisors

The KUIK Market Update for Monday, May 11:

Markets are flat.

Index	Direction	Change	Units		Time	Change
Dow	Unchanged	–	points	18,172	7:17 AM
S&P500	Up	0.0%	percent	2,117		0.69
Nasdaq Composite	Up	0.2%	percent	5,015		11.23
30 Year Treasury	Up	4	Basis Points	2.94	Annual Yield

Uber Technologies, the world’s most highly capitalized startup, plans to raise another large round of funding. The San Francisco-based ride-sharing company briefed investors on its plans to raise between $1.5 billion and $2 billion in new funding. It expects the funding to value the company at $50 billion or higher,although Uber’s plans could change. At that level, Uber could become the most valuable venture-backed startup in history. Only Facebook had a $50 billion valuation before going public.

The Bank of England made no changes to monetary policy at its meeting on Monday, as expected, maintaining its lending rate at a record low of 0.5%. The rate has been held at that level since March 2009. The bank’s quantitative-easing program was also left unchanged at 375 billion pounds ($579.5 billion) of purchases per month.

Oil prices mostly struggled on Monday after China announced fresh economic stimulus, but analysts remained cautious about the recent strength in oil markets. Nymex West Texas intermediate crude was down 59 cents from the previous close at $59.02 a barrel. Over the weekend, China, the world’s second-largest consumer of oil, cut interest rates for the third time in six months.



Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.

http://www.marketwatch.com/story/uber-looking-to-raise-up-to-2-billion-2015-05-11
http://www.marketwatch.com/story/bank-of-england-leaves-key-rate-at-05-2015-05-11
http://www.marketwatch.com/story/crude-oil-futures-struggle-for-direction-after-us-jobs-data-supply-rise-2015-05-11


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