Market Update Report 6/21/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday, June 21:

Markets are mixed.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	36	points	14,794	7:59 AM
S&P500	Up	0.15%	percent	1,591		2.34	points
Nasdaq Composite	Down	-0.33%	percent	3,353		(2.86)	points
30 Year Treasury	Down	(1)	Basis Points	3.51	Annual Yield

The decision by the Federal Reserve to lay out its plan to reduce the pace of asset purchases over the next year was badly timed, according to St. Louis Fed President James Bullard. In a statement explaining his dissent from the Fed’s policy statement, Bullard said the central bank should have waited for “more tangible signs” that the economy was healing and that inflation was no longer moving lower. He noted that the Fed had trimmed its own forecast for GDP growth and inflation in 2013. Bullard also said he dissented because he was worried about low inflation, which is now well below the Fed’s 2% target.

The Federal Aviation Administration is expected to relax the ban on using personal-electronic devices at low altitudes, allowing passengers leeway during taxiing and takeoffs and landings, according to draft recommendations prepared by an advisory panel to the agency. For fliers, the new rules would mean an end to the instructions to turn off and stow all electronic devices. Cellphone calls will still not be allowed.

Gold prices began turned up today after the metal tumbled to a 2½-year low yesterday. August gold 0.6%, to $1,294.00 an ounce on the New York Merc.



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

http://www.marketwatch.com/story/feds-bullard-bad-time-to-lay-out-taper-plan-2013-06-21-691514
http://www.marketwatch.com/story/faa-to-let-passengers-use-some-gadgets-on-flights-2013-06-21
http://www.marketwatch.com/story/gold-halts-its-tumble-as-us-dollar-ticks-lower-2013-06-20?dist=markets


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