Morning Market Report 12/20/2012 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, December 20:

Markets opened slightly lower this morning.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(15)	points	13,237	7:03 AM
S&P500	Down	-0.04%	percent	1,435		(0.63)	points
Nasdaq Composite	Down	-0.11%	percent	3,041		(3.50)	points
30 Year Treasury	Down	(2)	Basis Points	2.96	Annual Yield

The Labor Department reported that first-time jobless claims rose to a seasonally adjusted 361,000 in the week ended Dec. 15, versus an upwardly revised 344,000 in the week before. That’s slightly about the consensus estimate of 360,000.

The Commerce Department said third-quarter gross domestic product grew at a seasonally adjusted annual rate of 3.1%, which is the fastest since 4.1% in the fourth quarter of 2011. The GDP number was head of the government’s initial estimate of 2%. Economists polled by MarketWatchexpected 2.9%.

House Republicans plan to vote today on a tax increase for top earners, which they previously labeled as job-killing class warfare. Efforts are deteriorating to avoid the more than $600 billion in tax increases and spending cuts set to start in January. Even as Republicans seek to bridge their internal divide over taxes by pairing spending reductions with House Speaker John Boehner’s plan, the White House has declared his proposal dead on arrival and warned business leaders yesterday that talks between President Barack Obama and Boehner are regressing.



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

http://www.marketwatch.com/story/initial-jobless-claims-climb-17000-2012-12-20
http://www.marketwatch.com/story/third-quarter-us-growth-revised-higher-2012-12-20
http://www.bloomberg.com/news/2012-12-20/budget-talks-falter-as-republicans-set-tax-increase-vote.html


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