The KUIK Closing Market Report for Wednesday, February 3:
Markets were mixed.
Index Direction Change Units Index Time Change
Dow Up 183 points 16,337 2:28 PM
S&P500 Up 0.5% percent 1,913 9.50
Nasdaq Composite Down -0.3% percent 4,504 (12.71)
30 Year Treasury Up 2 Basis Points 2.70 Annual Yield
March Crude oil was up a whopping 9.6% to $32.75 on the New York Merc and that pulled stocks up with it. There was upbeat news that Chinese service activity is picking up and Russia is willing to talk with OPEC. However the Energy Information Administration reported a bigger-than-expected 7.8 million barrels weekly rise in crude stockpiles, increasing worries about a supply glut.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/why-oil-prices-shouldnt-really-be-rallying-2016-02-03?dist=afterbell
For today’s Closing Market Report click to listen->