Market Update Report 12/21/2012 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday, December 21:

Markets are down this morning.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(109)	points	13,203	7:52 AM
S&P500	Down	-0.90%	percent	1,431		(13.06)	points
Nasdaq Composite	Down	-1.06%	percent	3,018		–	points
30 Year Treasury	Down	(5)	Basis Points	2.94	Annual Yield

Stocks fell as Wall Street signals its distress over efforts to avert the fiscal cliff. House Speaker John Boehner dropped a proposal to allow higher taxes on yearly income of $1 million and more because he did not have enough votes to pass it. The Congressional Budget Office forecasts a recession in the first half of 2013 if the White House and Congress fail to reach a deal.

House lawmakers, the Senate and President Barack Obama must continue work to avert the looming fiscal cliff of tax increases and spending cuts, House Speaker John Boehner said today. Speaking to reporters at a press conference a day after Republican leaders pulled a fiscal cliff-related tax bill from the House floor, Boehner insisted he isn’t walking away from talks with Obama. He said that the House has passed bills to avert tax hikes and replace spending cuts and called on the Senate to act on them

Consumer sentiment dropped in December. The University of Michigan-Thomson Reuters consumer-sentiment gauge fell to a final December reading of 72.9 — the lowest level since July — from 82.7 in November.



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

http://www.marketwatch.com/story/stock-futures-slump-after-gop-abandons-plan-b-2012-12-21
http://www.marketwatch.com/story/lawmakers-obama-must-continue-cliff-work-boehner-2012-12-21?dist=lcountdown
http://www.marketwatch.com/story/consumer-sentiment-tumbles-in-december-2012-12-21?dist=lcountdown


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