Morning Market Report 1/24/2013 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, January 24:

Markets opened mixed.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	64	points	13,844	7:23 AM
S&P500	Up	0.4%	percent	1,499		6.52	points
Nasdaq Composite	Down	-0.3%	percent	3,145		(8.52)	points
30 Year Treasury	Up	3	Basis Points	3.06	Annual Yield

Apple is hurting the Nasdaq. The company is off almost 10.7% to $458.56 a level it has not seen for a year. The sell-off came as sales for the first fiscal quarter ended Dec. 29 came in slightly below Wall Street’s targets. The iPhone sold just under 48 million units —a record for the device, but still on the low side of analysts’ estimates. The company also issued a revenue and gross-margin forecast for the current quarter that was below expectations.

Initial applications for U.S. unemployment benefits fell by 5,000 to a seasonally adjusted 330,000 in the week ended Jan. 19, according to the Labor Department. That’s the lowest level since January 2008. The Labor Department said estimates were used for three states that did not file complete information on time, including California and Virginia.

Business conditions for Chinese manufacturers improved in January from their levels in December, according to HSBC’s flash manufacturing Purchasing Managers’ Index. It climbed to a 24-month high of 51.9, rising from a final reading of 51.5 in December and 50.5 in November. Above 50 means manufacturing is expanding.



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

http://www.marketwatch.com/story/apple-earnings-flat-despite-sales-gain-2013-01-23
http://www.marketwatch.com/story/us-jobless-claims-drop-5000-to-330000-2013-01-24-81034335
http://www.marketwatch.com/story/china-factory-activity-improves-further-in-january-2013-01-23


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