Morning Market Report 5/8/2013 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Wednesday, May 8:

Markets are mixed.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(13)	points	15,044	7:02 AM
S&P500	Up	0.06%	percent	1,627		1.05	points
Nasdaq Composite	Up	0.11%	percent	3,400		3.72	points
30 Year Treasury	Down	(1)	Basis Points	2.99	Annual Yield

Yesterday the Dow industrials hit an intraday high before closing at a record 15,056. The S&P 500 index closed at a record for the fourth straight session at 1,625.96. In a note to investors analysts at Morgan Stanley predicted the S&P 500 will end the year at 1,600. New York University economics professor Nouriel Roubini said that the market is not looking at a bubble, but markets could be setting up for a major selloff due to a “huge rally in risk assets” over the next two years.

China had a bigger than expected trade surplus of $18.16 billion in April, topping estimates of a $15.55 billion surplus–after a surprising $884 million deficit in March. But analysts cautioned that the 14.7% growth in exports during the month, after a rise of 10% in March, may have been a bit too good to be true, with overinvoicing by exporters probably accounting for some of the gains.

Technology stocks are struggling this morning, as shares of AOL and Symantec fell sharply at the open. AOL was down more than 6% after reporting results that showed a decline in Internet-access subscriptions. Symantec shed more than 4% after the security software maker reported a drop in profit.



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

http://www.marketwatch.com/story/us-stocks-ease-after-record-setting-run-2013-05-08
http://www.marketwatch.com/story/china-swings-back-to-trade-surplus-as-exports-jump-2013-05-07
http://www.marketwatch.com/story/aol-symantec-fall-as-techs-edge-lower-2013-05-08


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