The KUIK Market Update for Wednesday, January 20:
Markets are down.
Index Direction Change Units Time
Dow Down (438) points 15,583 8:01 AM
S&P500 Down -2.9% percent 1,828
Nasdaq Composite Down -3.1% percent 4,339
30 Year Treasury Down (7) Basis Points 2.73 Annual Yield
Oil is down again with February crude off 4.8% to $27.06 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. In London the FTSE 100 fell 3.5% to 5675.
The Commerce Department reports housing starts fell 2.5% last month to an annual rate of 1.15 million. Economists expected a seasonally adjusted 1.23 million. Home builders started 1.11 million new homes for all of 2015, the most since 2007.
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/housing-starts-fall-25-in-final-month-of-2015-2016-01-20
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