The KUIK Morning Market Report for Wednesday, January 20:
Markets are down.
Index Direction Change Units Time
Dow Down (325) points 15,692 7:18 AM
S&P500 Down -2.2% percent 1,841
Nasdaq Composite Down -2.3% percent 4,374
30 Year Treasury Down (7) Basis Points 2.74 Annual Yield
Oil is down again with February crude off 3.8% to $27.25 on the New York Merc. Fears about an economic slowdown in China, the world’s second biggest economy, have rattled financial markets since the start of the year. Stocks in Hong Kong fell 3.8% going below 19,000 and hitting a 3 1/2 year low and Japan Nikkei fell into bear market territory, down 3.7% to 16,416.
The Bureau of Labor Statistics reports the consumer price index fell by seasonally adjusted 0.1% in December mostly due to falling costs for food and gasoline. Energy fell 2.4% and food dropped 0.2%. For all of 2015 inflation rose just 0.7%, the second slowest rate in 50 years. Core prices rose 0.1%. The cost of shelter climbed again, reflecting higher prices for homes and rising rent.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/oil-prices-hit-fresh-12-year-low-under-28-a-barrel-2016-01-20
http://www.marketwatch.com/story/inflation-falls-again-in-december-cpi-finds-2016-01-20
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