Market Update Report 5/21/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Tuesday, May 21:

Markets are mixed.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	6	points	15,342	7:53 AM
S&P500	Down	-0.13%	percent	1,664		(2.16)	points
Nasdaq Composite	Down	-0.13%	percent	3,492		1.00	points
30 Year Treasury	Up	1	Basis Points	3.18	Annual Yield

Marketwatch reports in testimony for the Senate Banking Committee, Treasury Secretary Jacob Lew said underwriting standards have loosened in some markets, including some real estate investment trusts, at the same time that investors are “reaching for yield” by investing in lower-grade credit.

European Union lawmakers on Monday voted in favor of a draft law that would protect small bank depositors from losses in further bank rescues, but could see customers with more than 100,000 euros in savings being hurt if shareholders and bondholders could not cover a bank’s loses.. The proposal follows a controversial bailout agreement earlier this year in Cyprus, where large depositors were hit hard by a move to save the country from bankruptcy.

Gasoline prices at the pump have been climbing for 15 days in a row, and motorists this Memorial Day likely face the highest prices for the holiday since 2011, according to AAA. The average price for a gallon of regular gasoline was $3.65 on Monday, according to AAA’s Daily Fuel Gauge Report. That was the highest national average since March 26. It’s also up from $3.579 a week ago.



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

http://www.marketwatch.com/story/lew-sees-loosening-underwriting-standards-2013-05-21
http://www.marketwatch.com/story/large-depositors-not-protected-in-new-eu-draft-law-2013-05-21?dist=lcountdown
http://blogs.marketwatch.com/thetell/2013/05/20/gasoline-prices-to-hit-highest-for-a-memorial-day-weekend-in-two-years/


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