Market Update Report 12/11/2012 – Beacon Rock Wealth Advisors

The KUIK Market Update for Tuesday, December 11:
Markets are up this morning.
Index	Direction	Change	Units	Last	Time	Change
Dow	Up	107	points	13,276	7:52 AM
S&P500	Up	0.9%	percent	1,431		12.41	points
Nasdaq Composite	Up	1.3%	percent	3,026		39.13	points
30 Year Treasury	Up	4	Basis Points	2.84	Annual Yield
The Commerce Department reports the U.S. trade deficit increased 4.9% in October to $42.2 billion, as imports of crude oil rose and American exports of manufactured goods fell to the lowest level in nearly a year. Imports of foreign goods into the U.S. declined by 2.1% to almot $223 billion in October, but exports fell by 3.6% to $180 billion to account for the wider trade gap.
The US is getting out of the insurance business. The Treasury said it’ll sell all of its remaining 234 million shares of American International Group at $32.50 per share in a public offering. They expect to raise about $7.6 billion.
Lawmakers return to Washington today amid a potential thaw in the U.S. fiscal policy dispute, as President Barack Obama and House Speaker John Boehner attempt to make a deal to prevent spending cuts and tax increases from taking effect.
The Federal Reserve is set to take more action this week to support financial markets and the economy, as the central bank tries to stay predictable given all the uncertainty surrounding the fiscal cliff. Economists expect the Fed to announce fresh monthly purchases of $45 billion in Treasurys. These new purchases will start in 2013.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/us-trade-deficit-rises-49-to-422-billion-2012-12-11
http://www.marketwatch.com/story/us-treasury-selling-234-mln-shares-of-aig-2012-12-11?dist=lcountdown
http://www.bloomberg.com/news/2012-12-11/u-s-fiscal-dispute-shows-sign-of-thaw-before-deadline.html
http://www.marketwatch.com/story/fed-to-do-what-it-can-to-ease-cliff-uncertainty-2012-12-10?dist=lcountdown
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