| The KUIK Market Update for Wednesday, July 23: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (8) | points | 17,106 | 7:49 AM | ||
| S&P500 | Up | 0.3% | percent | 1,988 | 4.87 | ||
| Nasdaq Composite | Up | 0.5% | percent | 4,477 | 20.68 | ||
| 30 Year Treasury | Down | (0) | Basis Points | 3.25 | Annual Yield | ||
| Saudi Arabia announced yesterday it will open it stock market to foreign investors as it lures investment capital to its $745 billion economy. The country’s benchmark Tadawul All Share Index climbed to a six-year high after the Riyadh-based Capital Market Authority said it will open the stock market to foreigners in 2015, and publish the rules for participation next month. It is part of the Saudi government’s $130 billion spending plan to boost non-energy industries. | |||||||
| September crude is up 0.3% to $102.66 a barrel on the New York Merc. The Energy Information Administration said crude inventories fell by 4 million barrels in the week ended July 18. Analysts polled by Platts expected a 2.6 million barrel drop. The EIA said gasoline supplies added 3.4 million barrels in the week. The analysts surveyed by Platts expected gasoline supplies up 1.2 million barrels. Oil futures overcame overnight weakness as concerns about Ukraine took center stage after two Ukrainian military jets were downed in Russian rebel-held eastern Ukraine. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2014-07-22/saudi-to-open-up-531-billion-stock-market-to-foreigners.html | |||||||
| http://www.marketwatch.com/story/oil-futures-add-to-gains-after-surprise-supply-drop-2014-07-23 | |||||||
| For today’s Market Update Report click to listen-> | |||||||