Morning Market Report 12/17/2012 – Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Monday, December 17:
Markets opened higher this morning.
Index	Direction	Change	Units	Last	Time	Change
Dow	Up	68	points	13,203	6:57 AM
S&P500	Up	0.63%	percent	1,423		8.92	points
Nasdaq Composite	Up	0.46%	percent	2,985		13.76	points
30 Year Treasury	Up	1	Basis Points	2.88	Annual Yield
Manufacturing in the New York region shrank more than forecast in December, showing weakness is persisting as the year ends. The Federal Reserve Bank of New York’s general economic index dropped to minus 8.1, the fifth month of contraction, from minus 5.2 in November. The median forecast of economists in a Bloomberg survey was for minus 1. Readings of less than zero signal contraction in New York, northern New Jersey and southern Connecticut.
Budget negotiations showed some movement over the weekend. Speaker John Boehner, reportedly told the president he might accept higher taxes on millionaires in exchange for restraint on spending for entitlement programs such as Medicare and Social Security.
Japanese stocks jumped on Monday after Sunday’s election saw the Liberal Democratic Party sweep to victory with a resounding win. The Nikkei Stock Average gained 1.5% t and the yen weakened against the dollar. Shinzo Abe will be the new prime minister. Abe has vowed to adopt a large stimulus, cut interest rates and take other measures to revive growth in the world’s third largest economy.

Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.bloomberg.com/news/2012-12-17/manufacturing-in-new-york-region-contracts-more-than-projected.html
http://www.marketwatch.com/story/fiscal-cliff-talks-take-back-seat-to-shooting-2012-12-16
http://www.marketwatch.com/story/yen-weakens-after-oppositions-election-victory-2012-12-16

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