| The KUIK Market Update for Monday, December 24: | |||||||
| Markets are down over fiscal cliff worries. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (49) | points | 13,142 | 8:17 AM | ||
| S&P500 | Down | -0.34% | percent | 1,425 | (4.82) | points | |
| Nasdaq Composite | Down | -0.40% | percent | 3,009 | (12.40) | points | |
| 30 Year Treasury | Up | 2 | Basis Points | 2.94 | Annual Yield | ||
| Dock workers are getting ready to strike Sunday, December 30th on the East and Gulf Coasts in a labor dispute that threatens shipments of retail goods, food, and manufacturing components. Negotiations broke down last Tuesday between the International Longshoremen’s Association, which represents 15,000 dock workers, and the U.S. Maritime Alliance which represents management at 14 ports from Boston to Houston. | |||||||
| The $3.7 trillion municipal bond market is in its steepest monthly decline since 2010. Bond owners are spooked by changes to muni’s tax-exempt status in the fiscal cliff negotiations. They withdrew the most money in two years. Individual buyers own about 70 percent of U.S. local debt. | |||||||
| In a sign of possible recession, commodities markets are bearish. Hedge funds and money managers reduced net-long positions across 18 U.S. futures and options by 5.6 percent to 758,256 contracts in the week ended Dec. 18, the lowest since June 26, according to the Commodity Futures Trading Commission. Gold holdings dropped to the lowest since August, while those for silver tumbled 14 percent, the most since July 24. Traders turned bearish on wheat for the first time in six months. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/dock-workers-ready-to-strike-at-us-ports-2012-12-23 | |||||||
| http://www.bloomberg.com/news/2012-12-21/tax-status-threat-fuels-worst-losses-since-whitney-muni-credit.html | |||||||
| http://www.bloomberg.com/news/2012-12-23/bullish-wagers-drop-to-six-month-low-on-u-s-budget-commodities.html | |||||||
| For today’s Market Update Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||