Market Update Report 2/13/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Wednesday, February 13:

Markets are mixed.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(23)	points	13,996	7:47 AM
S&P500	Up	0.18%	percent	1,522		2.78	points
Nasdaq Composite	Up	0.49%	percent	3,202		15.46	points
30 Year Treasury	Up	3	Basis Points	3.22	Annual Yield

The Commerce Department reported retail sales rose 0.1% last month following a 0.5% gain in December. Not counting auto sales, sales rose at 0.2%. Higher taxes seem to be having a dampening effect. Payroll taxes went up 2% last month after the end of a two year tax break. Rates also went up on those earning more than 250,000.

The Department of Labor reported prices paid for imports increased 0.6% in January, led by fuel, close to analysts’ expectations of a 0.7% gain. Import prices dropped 1.3% over the past 12 months, indicating that imports won’t be a large factor behind near-term inflation for consumers. Fuel import prices rose 2.4% in January, the largest increase since September.

Bloomberg reports President Obama called for raising the federal minimum wage to $9 an hour and pledged to expand trade with Europe in his State of the Union address yesterday. He also proposed spending $50 billion on “urgent” infrastructure projects. He lauded steps by companies such as Apple and Caterpillar to bring manufacturing jobs back to the U.S. He said he stood by an offer he had previously made to cut spending on the Medicare health insurance plan.



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

http://www.marketwatch.com/story/us-retail-sales-rise-slower-after-tax-hike-2013-02-13
http://www.marketwatch.com/story/us-import-price-index-rises-06-in-january-2013-02-13
http://www.bloomberg.com/news/2013-02-13/u-s-stock-inbex-futures-rise-ge-gains-on-nbc-stake-sale.html


For today’s Morning Market Report click to listen->			https://beaconrwa.com/audio/Market-Update-Report.mp3