Market Update Report 11/4/2014 | Beacon Rock Wealth Advisors

The KUIK Market Update for Tuesday, November 4:
Markets are down.
Index	Direction	Change	Units	Time	Change
Dow	Down	(29)	points	17,337	7:47 AM
S&P500	Down	-0.5%	percent	2,008	(9.60)
Nasdaq Composite	Down	-0.5%	percent	4,616	(23.20)
30 Year Treasury	Down	(3)	Basis Points	3.03	Annual Yield
Crude-oil prices hit multi-year lows today on Saudi Arabia’s announcement it will cut the price of oil sold to U.S.buyers but raise it for Asia. On the news, December crude traded down 3% tp $76.35 a barrel in electronic trading on the New York Merc. The price cut for the U.S. market is seen as stiffer competition for U.S. domestic crude production. Putting further pressure on oil was news that the European Commission cut its growth forecasts for the 18-countries in the eurozone.
The US trade deficit rose 7.6% in September to the highest level since spring as exports to Europe, China, and Japan all fell, a sign that slower growth in the economies of key trading partners is starting to pinch the United States. The Commerce Department reports September’s trade gap climbed to a seasonally adjusted $43 billion up from revised $40 billion in August. Economists expected $41.1 billion.
The Commerce Department reports orders for goods produced in factories fell 0.6% in September, matching expectations. Orders for durable goods which are products meant to last at least three years fell 1.1% in September, compared with expectations for a 1.3% decline.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/oil-slides-on-speculation-about-saudis-pricing-strategy-2014-11-04-310308
http://www.marketwatch.com/story/us-trade-deficit-surges-76-in-september-2014-11-04
http://www.marketwatch.com/story/factory-orders-decline-06-in-september-2014-11-04-1091101
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