| The KUIK Market Update for Monday, February 25: | |||||||
| Markets opened strong but are now flat. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (4) | points | 13,995 | 8:05 AM | ||
| S&P500 | Unchanged | 0.00% | percent | 1,516 | – | points | |
| Nasdaq Composite | Up | 0.21% | percent | 3,168 | 6.53 | points | |
| 30 Year Treasury | Up | 1 | Basis Points | 3.16 | Annual Yield | ||
| Congress returns to work today with the White House and legislators facing a deadline to reach a compromise to avoid 85 billion in automatic spending cuts scheduled to kick in Friday. There was no sign of movement over the weekend in the stalemate over tax increases sought by President Obama and rejected by congressional Republicans. Legislators are accepting the sequester as a done deal and are looking toward the continuing resolution battle due March 31 that will fund the government through September. | |||||||
| Marketwatch reports the Chicago Fed’s national activity index fell to -0.32 in January from +0.25 in December, a reading that indicates the U.S. economy is running below trend. | |||||||
| Gold futures rebounded from last week’s selloff, buoyed by weakness in the U.S. dollar and concerns about the outcome of Italy’s election. April gold rose $18 to $1,590.80 an ounce in electronic trading. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/obama-republicans-face-off-as-sequester-looms-2013-02-23 | |||||||
| http://www.marketwatch.com/story/national-activity-below-trend-in-january-2013-02-25 | |||||||
| http://www.marketwatch.com/story/gold-futures-bounce-to-pare-recent-losses-2013-02-25 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||