The KUIK Morning Market Report for Tuesday, January 12:
Markets are up.
Index Direction Change Units Time
Dow Up 157 points 16,556 7:05 AM
S&P500 Up 0.9% percent 1,940
Nasdaq Composite Up 1.3% percent 4,700
30 Year Treasury Unchanged – Basis Points 2.96 Annual Yield
Shares in Asia mostly recovered Tuesday, as the Chinese yuan stabilized for the third straight day, though trading was volatile. The Shanghai Composite Index rose 0.4% to 3028.04, but it traded up and down as much as 1% from Monday’s close when it was down 5.3%.
European stocks advanced after a four-session losing streak The Stoxx Europe 600 index gained 0.8% to 342.95, after closing on Monday at the lowest level since late September.
Oil futures edged higher in a bid to end a six-session losing streak that had knocked more than 15% off the price of oil, leaving it near a 12-year low. February crude is up almost 1.8% to $31.78 a barrel on the New York Merc. Marketwatch reports Nigeria on Tuesday said some members OPEC, are pushing for an emergency meeting over plunging oil prices, but an official from the United Arab Emirates appeared to dismiss the idea.
Previous calls by some OPEC producers for emergency meetings aimed at reining in production have been ignored by Saudi Arabia and its Gulf allies.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/china-stocks-gain-asian-markets-breathe-sigh-of-relief-2016-01-11
http://www.marketwatch.com/story/european-stocks-rebound-after-four-day-losing-streak-2016-01-12
http://www.marketwatch.com/story/crude-sinks-to-30-a-barrel-a-level-not-seen-in-12-years-2016-01-12
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