Market Update Report 1/18/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday, January 18:

Markets are mixed

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	3	points	13,600	4:04 PM
S&P500	Up	0.3%	percent	1,486		5.04	points
Nasdaq Composite	Down	-0.3%	percent	3,127		8.81	points
30 Year Treasury	Down	(4)	Basis Points	3.03	Annual Yield

The Chinese economy is reheating. China’s economy grew by 7.9% in the fourth quarter beating economists’ expectations. The GDP growth was an increase from 7.4% growth in the third and 7.6% growth in the second quarter. The Chinese government has a target of 7.5% annual GDP growth. For 2012 Chinese GDP growth was 7.8%, down from 9.3% for 2011.

Intel is down 6.4% to 21.22 a share. It announced earnings after the close yesterday. Intel’s earnings for the fourth quarter beat Wall Street’s forecasts, despite falling 24% from the same period a year ago. But the company’s forecast was below analysts’ estimates, sending the stock down. The company plans to allocate $13 billion for capital expenditures. The plan is $2 billion higher than 2012, but Intel is a small player in the fast-growing market for smartphones and laptops that are hurting sales of PCs and laptops.

Consumer sentiment is down. The University of Michigan-Thomson Reuters consumer sentiment gauge declined to 71.3 in a preliminary January reading from a final December level of 72.9. Economists expected a preliminary January reading of 74.2. Consumers are still concerned about fiscal issues, such as the debt ceiling.



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

http://www.marketwatch.com/story/chinas-economy-grows-more-than-expected-2013-01-17
http://www.marketwatch.com/story/intel-results-beat-street-but-outlook-weak-2013-01-17
http://www.marketwatch.com/story/umich-consumer-sentiment-declines-in-january-2013-01-18


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