| The KUIK Market Update for Wednesday, November 12: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (53) | points | 17,562 | 7:55 AM | ||
| S&P500 | Down | -0.3% | percent | 2,034 | (5.78) | ||
| Nasdaq Composite | Down | -0.2% | percent | 4,652 | (8.10) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.05 | Annual Yield | ||
| China’s anti–Valentine’s Day–Singles Day, was a bigger shopping than than Black Friday in the US. It was the world’s most profitable online shopping day, with Chinese e-commerce company Alibaba passing $9 billion in sales in 24 hours. It has become one of the most profitablemade-up holidays in history. The Alibaba created Singles Day in 2009 as a play on a twenty year old celebration of China’s bachelors. Sales have grown immensely, skyrocketing a whopping 5,740% from 2009 to 2013. The company sayas Adidas and Nike were the top two brands in the sports apparel category by gross merchandise volume. | |||||||
| Marketwatch reports there’s a of confidence in the oil market as the Organization of the Petroleum Exporting Countries allows oil prices to fall. December crude is off 0.8% to $77.33 a barrel on the New York Merc. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/alibabas-singles-day-bigger-than-black-friday-2014-11-10?mod=MW_story_recommended_default | |||||||
| http://www.marketwatch.com/story/bearish-market-sentiment-drives-oil-prices-lower-2014-11-12-21035936?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||