Morning Market Report 12/24/2012 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Monday, December 24:

Markets opened down this morning over fiscal cliff worries.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(39)	points	13,152	6:56 AM
S&P500	Down	-0.31%	percent	1,426		(4.46)	points
Nasdaq Composite	Down	-0.33%	percent	3,010		(11.00)	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 components used in manufacturing. Negotiations broke down on 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.

Oil futures trade slightly lower, with trading quiet ahead of the Christmas holiday. February crude oil is off 0.2%, to $88.45 a barrel in electronic trading, adding to its 1.6% on Friday.

The $3.7 trillion municipal bond market is close to its steepest monthly decline since 2010 as bond owners spooked by threats to the debt’s tax-exempt status withdrew the most money in almost two years. Demand from individual buyers, who own about 70 percent of U.S. local debt, collapsed last week as yields eached the lowest levels in 40 years. Investors pulled $2.3 billion from muni mutual funds this week, the biggest exodus since January 2011.



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.marketwatch.com/story/oil-adds-to-losses-as-fiscal-cliff-nears-2012-12-24?dist=markets
http://www.bloomberg.com/news/2012-12-21/tax-status-threat-fuels-worst-losses-since-whitney-muni-credit.html


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