The KUIK Closing Market Report for Wednesday, May 10:
Markets were mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(32)
points
20,943
7:56 PM
S&P500
Up
0.1%
percent
2,400
2.71
Nasdaq Composite
Up
0.1%
percent
6,129
8.56
30 Year Treasury
Unchanged
–
basis points
3.04
Annual Yield
The Energy Information Administration (EIA) forecast U.S. crude production at 9.31 million barrels a day in 2017, up 1% from the previous forecast, according to the U.S. government agency’s Short-term Energy Outlook report. It sees 2018 output up an aditinal 7%. “Increased drilling rig activity is expected to boost to U.S. crude oil production this year and next, with forecast production in 2018 averaging 10 million barrels per day,” said the EIA’s acting administrator.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
