Market Update Report 2/21/2013

February 21, 2013
The KUIK Market Update for Thursday, February 21:
Markets are down.
Index Direction Change Units Last Time Change
Dow Down                    (60) points             13,868 7:57 AM
S&P500 Down -0.52% percent               1,504              (7.83) points
Nasdaq Composite Down -0.63% percent               3,144             (19.95) points
30 Year Treasury Down                      (5) Basis Points               3.16 Annual Yield
Initial jobless claims rose 20,000 to a seasonally adjusted 362,000 in the week ended Feb.16, according to the Labor Department.  Economists surveyed by MarketWatch forecast claims to rise to 351,000 from a revised 342,000 in the prior week.  The monthly average of jobless claims, a   more accurate number that smooths out weekly volatility, rose by 8,000 to   360,750. That’s the highest level since the first week of January.
Marketwatch reports prices for consumer goods and services were unchanged in January for the second month in a row, as higher costs for housing, clothes and airline fares were offset by a seasonally adjusted decline in energy expenses. Economists expected a .1 percent increase.
The downturn in Europe increased in February, with the preliminary composite purchasing-managers’ index dropping to a two-month low of 47.3 from a January reading of 48.6, according to Markit. A reading of less than 50 indicates contraction. Economists   surveyed by Dow Jones forecast  48.5.   The region is on course for a fourth consecutive quarter of contraction in   the first three months of 2013, although the decline appears likely to be less severe than the 0.6% drop in gross domestic product seen in the fourth quarter of 2012.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-climb-20000-to-362000-2013-02-21?link=MW_pulse
http://www.marketwatch.com/story/consumer-inflation-unchanged-in-january-2013-02-21
http://www.marketwatch.com/story/euro-zone-feb-pmi-signals-steeper-downturn-2013-02-21?dist=lcountdown
For today’s Morning   Market Report click to listen-> https://beaconrwa.com/audio/Market-Update-Report.mp3