Market Update Report 6/12/2013 – Beacon Rock Wealth Advisors

The KUIK Market Update for Wednesday, June 12:

Markets are up this morning.
Index	Direction	Change	Units	Last	Time	Change
Dow	Up	4	points	15,126	2:29 PM
S&P500	Up	0.0%	percent	1,626		23.84	points
Nasdaq Composite	Down	-0.1%	percent	3,434		(3.00)	points
30 Year Treasury	Down	–	Basis Points	3.33	Annual Yield

Corelogic reports the percentage of all residential mortgages that are in negative equity, or “underwater” at the end of the first quarter fell to 19.8%, or 9.7 million. That’s down from 21.7% at the end of the fourth quarter of 2012 and from over 25% at the end of 2011. Nevada was the state with the highest percentage of mortgaged properties in negative equity at 45.4%, and Tampa-St. Petersburg-Clearwater, Fla. had the highest percentage of top-25 metropolitan areas at 44.1%.

The Business Roundtable said 78% of 141 chief executives polled predict sales will rise in the next six months. That’s up from 72% in the first quarter. Big companies also expect a “modest improvement” in hiring. Two-thirds of the CEOs say they plan to keep business investment at current levels or even cut back a bit. That’s a downer for the U.S. outlook. Higher business investment is typically a major contributor to economic growth.

The U.S. Energy Information Administration reported that U.S. crude-oil supplies rose by 2.5 million barrels for the week ended June 7, to 393.8 million barrels. Analysts polled by Platts were looking for no change. Gasoline supplies increased by 2.7 million barrels, and analysts expected a rise of only 1 million barrels.



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

http://www.marketwatch.com/story/underwater-mortgage-percentage-falls-below-20-2013-06-12
http://blogs.marketwatch.com/election/2013/06/12/u-s-business-leaders-not-wild-about-economy-washington/
http://www.marketwatch.com/story/crude-oil-supplies-rise-by-25-mln-barrels-eia-2013-06-12


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