Morning Market Report 4/2/2013 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Tuesday, April 2:

Markets are up this morning.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	82	points	14,653	7:04 AM
S&P500	Up	0.58%	percent	1,571		9.01	points
Nasdaq Composite	Up	0.73%	percent	3,263		23.70	points
30 Year Treasury	Up	2	Basis Points	3.10	Annual Yield

Manufacturing activity in Europe is slowing. Activity in factories across the 17 countries that use the euro contracted at a faster pace in March, accoriding to the final Markit purchasing managers’ index. The index dropped to a three-month low of 46.8 from 47.9 in February. A reading of less than 50 indicates contraction.

White House press secretary Jay Carney announced 480 employees at the Office of Management and Budget have been given the notices, confirming a Bloomberg report from last month. OMB workers will need to take 10 days off between April 21 and Sept. 7. President Barack Obama is preparing to release his next budget on April 10, so there is time for OMB staff to complete that before taking unpaid days off.

Marketwatch reports stocks are up on car sales. Car makers reported March sales figures. Edmunds.com raised its 2013 forecast for U.S. light vehicle sales to 15.5 million, show optimism on the industry. Ford said its U.S. sales rose 5.7% in March and Chrysler, which is owned by Italy’s Fiat said its U.S. sales climbed 5% in March from the same period a year ago, marking the best monthly sales since December 2007.



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

http://www.marketwatch.com/story/pmi-data-shows-deeper-euro-zone-factory-downturn-2013-04-02
http://blogs.marketwatch.com/election/2013/04/01/white-house-budget-staff-given-furlough-notices/
http://www.marketwatch.com/story/us-stocks-rise-as-car-makers-report-sales-2013-04-02


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