The KUIK Morning Market Report for Monday, January 4:
Markets are down.
Index Direction Change Units Time
Dow Down (411) points 17,016 7:12 AM
S&P500 Down -2.1% percent 2,000
Nasdaq Composite Down -2.8% percent 4,869
30 Year Treasury Down (6) Basis Points 2.95 Annual Yield
Caixin Media said its China manufacturing purchasing managers’ was 48.2 for December, down from 48.6 in November. This is the 10th straight month below-50 signalling contraction. That caused an almost 7% slide in China’s Shanghai Composite Index and activated the new circuit-breaker system for Chinese stocks, halting trading on the mainland for the rest of the day.
The Stoxx Europe 600 index fell 2.3% to 357.45 in its first session of the new year, after gaining 6.8% in 2015. All major sectors were down.
February crude is up 3.5% to $38.07 a barrel on the New York Merc. Saudi Arabia yesterday cut diplomatic ties with fellow OPEC member Iran. The Saudi move came as hundreds of Iranians protested against the kingdom’s Saturday execution of prominent Shiite cleric Nemer-al-Nemer.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/chinese-manufacturing-index-slips-as-demand-stalls-2016-01-03
http://www.marketwatch.com/story/european-stocks-slammed-lower-by-chinese-market-rout-2016-01-04
http://www.marketwatch.com/story/oil-prices-pare-gains-after-jumping-on-iran-saudi-arabia-tensions-2016-01-04
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