| The KUIK Morning Market Report for Monday, August 24: | |||||||
| it’s a bloody open on Wall Street. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (754) | points | 15,706 | 6:55 AM | ||
| S&P500 | Down | -4.3% | percent | 1,886 | (84.92) | ||
| Nasdaq Composite | Down | -4.8% | percent | 4,480 | (226.27) | ||
| 30 Year Treasury | Down | (10) | Basis Points | 2.65 | Annual Yield | ||
| European stocks fell today, extending a selloff in global stocks on worries that China’s economy is slowing down more than anticipated. Stoxx Europe 600 fell 2.9% to 350.85, with no sectors trading higher. In London the FTSE 100 fell 2.8% to 6,013.20, | |||||||
| October crude dropped below $39 a barrel on the New York Merc, setting it on track to close below that level for the first time since February 2009. Right now it is off 5.4% to $38.25 a barrel. It traded as low as $37.75. | |||||||
| The People’s Bank of China is preparing to flood the country’s banking system with new liquidity to boost lending, according to bank officials, as a weaker currency could spur more funds leaving China The step involves cutting the banks’ reserve requirements would signal that the Chinese central bank’s exchange-rate maneuvering in the past two weeks is backfiring, forcing it to resort to theeasing measures that so far have failed to help spur economic activity. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/european-stocks-track-china-selloff-slide-deeper-into-correction-2015-08-24 | |||||||
| http://www.marketwatch.com/story/oil-tumbles-to-fresh-lows-on-china-market-turmoil-2015-08-24-2103336 | |||||||
| http://www.marketwatch.com/story/china-plans-more-steps-to-boost-bank-lending-2015-08-23 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||