Market Update Report 4/10/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Wednesday, April 10:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	113	points	14,786	8:07 AM
S&P500	Up	1.00%	percent	1,584		15.67	points
Nasdaq Composite	Up	1.52%	percent	3,287		49.06	points
30 Year Treasury	Up	5	Basis Points	2.98	Annual Yield

Federal Reserve officials are divided over how long they should keep buying bonds, according to the minutes of the March 19-20 meeting. The Fed said one member wanted to slow the bond purchases immediately. Others favored slowing the purchases at midyear, with the program ending later in 2013.

President Barack Obama sends a $3.77 trillion 2014 budget to Congress today that calls for reductions in Social Security and Medicare in a gamble to revive deficit-reduction talks. The administration projects the deficit for fiscal 2014 would be $744 billion, or 4.4 percent of the economy. That would be the first budget shortfall of less than $1 trillion since Obama took office.

China swung to a trade deficit of $880 million in March, according to the General Administration of Customs imports surged 14.1% from a year earlier. The deficit followed February’s $15.3 billion surplus, missed a forecasst for a surplus of $14.7 billion from a Dow Jones.

Gold prices fell after Goldman Sachs cut is forecast for this year with June Gold down 0.9%, to $1,572.10 an ounce on the New York Merc.

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

http://www.marketwatch.com/story/fed-minutes-show-clear-divisions-over-qe-duration-2013-04-10
http://www.bloomberg.com/news/2013-04-10/obama-proposes-3-77-trillion-budget-to-revive-debt-talks.html
http://www.marketwatch.com/story/china-posts-surprise-trade-deficit-for-march-2013-04-09-231032556?dist=lcountdown
http://www.marketwatch.com/story/gold-prices-pull-back-after-advances-2013-04-10

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