Morning Market Report 2/27/2013

February 27, 2013
The KUIK Morning Market Report for Wednesday, February 27:
Markets are up.
Index Direction Change Units Last Time Change
Dow Up                     36 points             13,937 7:05 AM
S&P500 Up 0.33% percent               1,502               4.96 points
Nasdaq Composite Up 0.30% percent               3,139               9.44 points
30 Year Treasury Down                      (3) Basis Points                 3.05 Annual Yield
The Commerce Department reports orders for durable goods sank 5.2% last month mainly because of less demand for commercial and military aircraft.  Excluding transportation, orders for durable goods rose 1.9% and advanced for the fifth straight month. The increase was the strongest in more than a year.  Orders for machinery were trong, climbing 13.5%, but demand for autos was flat and bookings for computers fell.
President Barack Obama and congressional leaders will meet Friday at the White House to discuss the $85 billion in across-the-board spending cuts. The sequester is due to go into effect on Friday without a replacement.
Pending home sales rose 4.5% in January to the highest level since April 2010, according to the National Association of Realtors.  By region, January saw pending-home-sale   gains of 8.2% in the Northeast, 5.9% in the South, 4.5% in the Midwest, and   only 0.1% in the West.
Fed Chairman Ben Beranke isn’t budging in his support for continued bond buying.   “Keeping long-term interest rates low has helped spark a recovery in the   housing market and has led to increased sales and production of automobiles   and other durable goods,” he said in his semiannual report to Congress yesterday.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/durable-goods-orders-minus-aircraft-strong-2013-02-27
http://www.marketwatch.com/story/obama-leaders-to-meet-on-sequester-reports-2013-02-27?link=MW_Nav_EP
http://www.marketwatch.com/story/pending-home-sales-rise-in-january-2013-02-27
http://blogs.wsj.com/cfo/2013/02/27/the-morning-ledger-bernanke-wont-budge-on-bond-buying/
For today’s Morning   Market Report click to listen-> https://beaconrwa.com/audio/Morning-Market-Report.mp3