The KUIK Closing Market Report for Tuesday, December 20:
Markets were up.
Index
Direction
Change
Units
Index
Time
Change
Dow
Up
92
points
19,975
2:32 PM
S&P500
Up
0.4%
percent
2,271
8.23
Nasdaq Composite
Up
0.5%
percent
5,484
26.50
30 Year Treasury
Up
3
Basis Points
3.15
Annual Yield
The Obama administration announced that that it would indefinitely block oil and natural-gas drilling in a large part of the Arctic Ocean and smaller parts of the Atlantic Ocean, the latest in a string of last-minute actions in the face of President-elect Trump’s vow to undo President Barack Obama’s environmental agenda. The announcement carries symbolic significance but little immediate impact, since no commercial drilling is currently taking place in U.S. federal waters of either the Atlantic off the East Coast or the Arctic north of Alaska. Persistently low oil prices have depressed the oil industry’s appetite to make big investments in new offshore projects, and any production would take the better part of a decade to come online.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
