The KUIK Market Update for Thursday, January 7:
Markets are down.
Index Direction Change Units Time
Dow Down (149) points 16,758 8:11 AM
S&P500 Down -1.0% percent 1,971
Nasdaq Composite Down -1.3% percent 4,776
30 Year Treasury Up 3 Basis Points 2.97 Annual Yield
In China the Shanghai Composite Index finished down -7.04% to 3,125, bringing losses over four trading days to 11.7%. It is on track for the largest weekly loss since August 21. Markets fell before triggering a circuit breaker, which froze trading for the day30 minutes into the session. It was the second circuit breaker this week and made the shortest trading day in the market’s 25-year history. This morning, China suspended the circuit breaker system.
The private company funding freeze analysts predicted for 2016 started in the fourth quarter of 2015, according to CB Insights. Compared with the third-quarter of 2015, there was a 30% drop in funding to venture-backed companies worldwide. Funding rounds of $100 million or more, fell worldwide to 39 down from 72. Nine new companies were valued at $1 billion or more, lowest number of additions since the second quarter of 2014.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/china-trading-halted-early-again-asian-markets-slide-in-response-2016-01-06
http://www.marketwatch.com/story/numbers-show-startup-funding-slowdown-has-already-begun-2016-01-07?dist=lcountdown
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