Morning Market Report 3/7/2013 – Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, March 7:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	38	points	14,334	6:51 AM
S&P500	Up	0.08%	percent	1,543		1.28	points
Nasdaq Composite	Up	0.07%	percent	3,225		2.20	points
30 Year Treasury	Up	3	Basis Points	3.18	Annual Yield

Initial jobless claims fell by 7,000 to a seasonally adjusted 340,000 in the week ended March 3, putting them at the lowest level since mid-January, according to the Labor Department. Economists surveyed by MarketWatch forecast claims to rise to 353,000 from a revised 347,000. The monthly average of jobless claims fell by 7,000 to 348,750 the lowest level since March 2008.

The U.S. trade deficit widened 16.5% in January to $44.4 billion, reversing much of a narrowing in December, according to the Commerce Department. The January trade deficit was above the consensus forecast of Wall Street economists of a deficit of $42.4 billion. Exports slumped 1.2% in January to $184.5 billion while imports jumped 1.8% to $228.9 billion, led by an increase in crude oil imports.

Marketwatch reports European Central Bank President Mario Draghi played down the threat to euro-zone stability posed by Italy’s inconclusive election results. Draghi said many of Italy’s fiscal reforms are set to continue on auto pilot, while financial markets continue to show signs of returning confidence.



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

http://www.marketwatch.com/story/us-jobless-claims-fall-to-340000-2013-03-07
http://www.marketwatch.com/story/us-trade-gap-rebounds-sharply-in-january-2013-03-07
http://www.marketwatch.com/story/draghi-plays-down-implications-of-italy-election-2013-03-07


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