Morning Market Report 2/21/2013 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, February 21:

Markets are down.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(68)	points	13,856	7:36 AM
S&P500	Down	-0.78%	percent	1,500		(7.30)	points
Nasdaq Composite	Down	-0.86%	percent	3,137		(17.32)	points
30 Year Treasury	Down	(4)	Basis Points	3.17	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.

Wal-Mart reported a better-than-expected fiscal-fourth-quarter profit, but gave an outlook that fell short of Wall Street expectations, with the retailer citing higher payroll taxes and other “current economic factors” affecting customers in many of its markets. The company said February sales started slower than planned due in large part to the delay in income tax refunds. As the refund checks increased late last week, it’s seeing a more normal sales pattern,



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/wal-mart-gives-cautious-view-citing-macro-worries-2013-02-21


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