Market Update Report 5/23/2013

May 23, 2013
The KUIK Market Update for Thursday, May 23:
Markets are down.
Index Direction Change Units Last Time Change
Dow Down                      (67) points             15,241 7:13 AM
S&P500 Down -0.7% percent               1,645             (10.70) points
Nasdaq Composite Down -0.5% percent               3,446            33.72 points
30 Year Treasury Down                        (4) Basis Points                 3.17 Annual Yield
US stocks are down after Japanese stocks led an Asian selloff on fears the Federal Reserve is tapering off on its bond buying program  combined with an unexpected contraction in Chinese manufacturing. The Nikkei Stock Average closed down 7.3% with large   volatility and share volume, its worst single-day loss since March 2011.
HSBC said its preliminary Purchasing Managers’ Index for May fell to a seven-month low of 49.6, down from April’s final reading of 50.4.   Below 50 signals contraction.
U.S. home prices rose a seasonally adjusted 1.3% in March, and   prices grew 6.7% in the first quarter of 2012, according to the Federal   Housing Finance Agencyy. Compared to the fourth quarter, prices rose 1.9%,   the seventh straight quarterly rise.
Private-sector activity in Europe continued to shrink in May, but at a slower pace than in previous months, according to its preliminary   Markit composite purchasing managers’ index. The index rose to a three-month   high of 47.7 from 46.9 in April, beating expectations, but still 50-.
Serving the West   Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/stock-futures-slide-rattled-by-fed-china-data-2013-05-23?dist=beforebell
http://www.marketwatch.com/story/china-manufacturing-swings-to-contraction-hsbc-2013-05-22?dist=beforebell
http://www.marketwatch.com/story/jobless-claims-sink-by-23000-to-340000-2013-05-23?dist=beforebell
http://www.marketwatch.com/story/euro-zone-pmi-rises-to-three-month-high-2013-05-23
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