Market Update Report 2/22/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday, February 22:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	55	points	13,936	7:59 AM
S&P500	Up	0.35%	percent	1,508		5.25	points
Nasdaq Composite	Up	0.43%	percent	3,145		13.36	points
30 Year Treasury	Down	(1)	Basis Points	3.15	Annual Yield

Helping the US market is data out of Germany. Bloomberg reports the Ifo institute’s business climate index, based on a survey of 7,000 executives, climbed to 107.4 in February from a revised 104.3 in January. A Bloomberg survey expected 104.9. The latest reading was the highest since April 2012..

James Bullard, the president of the St. Louis Fed, said in a speech at New York University’s School of Business that his bank forecasts the unemployment rate will fall below 6.5% in June 2014. Fed officials have said that it will not raise short term rates as long as the unemployment rate his higher than 6.5%. Bullard admitted that his forecast is more optimistic than many of his colleagues at the Fed.

Marketwatch reports that companies have started dropping spouses from health coverage. By denying coverage to spouses, employers not only save the annual premiums, but also the new fees that went into effect as part of the Affordable Care Act. This year, companies have to pay $1 or $2 “per life” covered on their plans, a sum that jumps to $65 in 2014. And health law guidelines proposed recently mandate coverage of employees’ dependent children (up to age 26), but husbands and wives are optional.



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

http://www.bloomberg.com/news/2013-02-22/u-s-stock-futures-advance-as-german-confidence-rises.html
http://www.marketwatch.com/story/feds-bullard-eyes-tightening-next-year-2013-02-21?dist=lcountdown
http://www.marketwatch.com/story/why-your-boss-is-dumping-your-wife-2013-02-22


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