The KUIK Market Update for Wednesday, August 12: |
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Markets are down. |
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Index |
Direction |
Change |
Units |
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Time |
Change |
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Dow |
Down |
(216) |
points |
17,188 |
8:15 AM |
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S&P500 |
Down |
-1.2% |
percent |
2,059 |
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(24.97) |
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Nasdaq Composite |
Down |
-1.3% |
percent |
4,970 |
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(67.20) |
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30 Year Treasury |
Down |
(3) |
Basis Points |
2.77 |
Annual Yield |
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The Chinese yuan fell 1.6% against the U.S. dollar after the People’s Bank of China lowered its daily exchange rate. The move came after China surprised international markets yesterday by dropping the rate 1.9%, saying it would take into account the closing market level when setting it’s exchange rate. |
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Crude-oil futures trimmed gains Wednesday afte the Energy Information Administration said crude-oil inventories, excluding the Strategic Petroleum Reserve, fell by 1.68 million barrels to almost 454 million barrels. Analysts surveyed by oil-data firm Platts forecast a drop of 1.9 million barrels. Nymex September crude was up 0.6%, at $43.33 a barrel. The EIA also said gasoline inventories fell by 1.3 million barrels. |
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Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. |
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http://www.marketwatch.com/story/asia-stock-slump-deepens-after-china-devaluation-move-2015-08-12 |
http://www.marketwatch.com/story/oil-futures-trim-gains-after-smaller-than-expected-fall-in-inventory-2015-08-12?dist=markets |
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