The KUIK Morning Market Report for Friday, February 26:
Markets are up.
Index Direction Change Units Time
Dow Up 44 points 16,739 6:00 PM
S&P500 Up 0.2% percent 1,956
Nasdaq Composite Up 0.4% percent 4,602
30 Year Treasury Up 7 Basis Points 2.64 Annual Yield
The Commerce Department reports the seasonally adjusted trade deficit for good widened to $62.2 billion from $61.5 billion in December. Exports fell $116.8 billion from $120.2 billion, led by a decline in foods, feeds, and beverages, though every major category fell. Imports also fell down to $179 billion from $181.7 billion.
In China, the Shanghai Composite Index finished up 1% at 2,767.21, as a meeting in Shanghai of the Group of 20 industrialized nations got under way. A sharp drop in stocks on Thursday had increased pressure on China to address global anxiety about its economy and financial markets at the meeting. At a news conference, China’s top central banker, Zhou Xiaochuan, told China’s trading partners that Beijing won’t drastically weaken the Chinese currency and that it has sufficient tools to support the economy.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/us-trade-gap-in-goods-widens-to-7-month-high-2016-02-26
http://www.marketwatch.com/story/china-stocks-improve-a-day-after-tumble-2016-02-25
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