| The KUIK Morning Market Report for Friday, September 11: | |||||||
| Markets are down. | |||||||
| \ | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (53) | points | 16,286 | 7:01 AM | ||
| S&P500 | Down | -0.7% | percent | 1,939 | (12.86) | ||
| Nasdaq Composite | Down | -0.7% | percent | 4,764 | (31.77) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 2.95 | Annual Yield | ||
| The Shanghai Composite, which has not had an up week in about a month, closed up 1.3% this week, while stocks in Hong Kong up 3.2% for the week, had their first positive week since mid-July. Chinese authorities have made fresh attempts in recent days to stabilize their markets, down 38% since June. Chinese Premier Li Keqiang told the World Economic Forum in the northeast city of Dalian yesterday that his country’s economy isn’t heading for a hard landing, recent volatility won’t affect its economic trajectory, and reforms are on track. | |||||||
| Oil prices that have reached their lowest levels since the financial crisis have “dimmed the prospects for a recovery in U.S. drilling activity,” according to the International Energy Agency in its monthly oil market report. The agency said tight oil, expensive-to-pump crude that has driven American production in recent years–would decline by 400,000 barrels a day in 2016, a fall that already began in July. Along with expected drops in Russian and North Sea output in 2016, production outside of OPEC could see the steepest cuts since the fall of the Soviet Union. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/asian-stocks-waver-ahead-of-fed-decision-2015-09-11 | |||||||
| http://www.marketwatch.com/story/iea-forecasts-deep-cuts-to-us-oil-production-2015-09-11 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||