Morning Market Report 12/4/2012 – Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Tuesday, December 4:
Markets opened up this morning.
Index	Direction	Change	Units	Last	Time	Change
Dow	Up	32	points	12,998	6:49 AM
S&P500	Up	0.1%	percent	1,410		0.91	points
Nasdaq Composite	Down	-0.2%	percent	2,996		(5.84)	points
30 Year Treasury	Down	(1)	Basis Points	2.79	Annual Yield
Markets are still waiting on the fiscal cliff negotiations, but other political problems are in the news.
Congress will consider overhauling debt collection in the $100 billion-a-year U.S. student loan program, replacing it with automatic withdrawals from borrowers’ paychecks tied to their income — a system used in the U.K. Legislation that Wisconsin Republican Representative Tom Petri plans to introduce as soon as this week would require employers to withhold payments from wages in the same way they do taxes. Payments would be capped at 15 percent of borrowers’ income after basic living expenses.
The connection between major national charities and telemarketers should be investigated by the Federal Trade Commission for possibly abusing tax-exempt status or breaking the law, U.S. Senators Richard Blumenthal and Herb Kohl say. “I am writing to ask that the FTC investigate reports that telemarketers acting on behalf of well-respected charities are deploying deceptive tactics to induce individuals to donate money that is kept mostly, and sometimes entirely, by the telemarketer,” Blumenthal, a Connecticut Democrat, wrote to the FTC on Nov. 30. “These practices are unethical and in some circumstances may be illegal.”

Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.bloomberg.com/news/2012-12-04/student-loan-collection-targeted-for-overhaul-in-congress.html
http://www.bloomberg.com/news/2012-12-04/telemarketers-lying-for-charities-prompt-call-for-u-s-probe.html

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