Market Update Report 4/22/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Monday, April 22:

Markets are down.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(55)	points	14,493	7:43 AM
S&P500	Down	-0.30%	percent	1,551		(4.74)	points
Nasdaq Composite	Down	-0.08%	percent	3,204		(2.54)	points
30 Year Treasury	Down	(2)	Basis Points	2.87	Annual Yield

The U.S. economy ran below trend potential in March, according to the Chicago Fed national activity index . In March, the index swung to -0.23 from an upwardly revised +0.76 in February. The index weights 85 different economic indicators and is designed so that readings above zero indicate the economy is growing above average historical trends, and readings below zero indicate the economy is running below-average trend growth.

The National Association of Realtors said sales of existing homes fell 0.6% in March to a seasonally adjusted annual rate of 4.92 million. Despite the decline, sales were up 10.3% from the same period in 2012.

Pimco’s Bill Gross, the manager of the world’s largest bond fund, is the latest to trash a focus on austerity by British and euro-zone officials, telling the Financial Times that moving to cut debt too fast instead risks wrecking an economic recovery rather than righting the fiscal ship. “The U.K. and almost all of Europe have erred in terms of believing that austerity, fiscal austerity in the short term, is the way to produce real growth. It is not,” Gross said. “You’ve got to spend money.”



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

http://www.marketwatch.com/story/us-economy-below-trend-in-march-index-shows-2013-04-22
http://www.marketwatch.com/story/existing-home-sales-decline-in-march-2013-04-22?dist=lcountdown
http://blogs.marketwatch.com/thetell/2013/04/22/pimcos-bill-gross-latest-to-blast-europes-focus-on-austerity/


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