Market Update Report 11/21/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Thursday, November 21:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	69	points	15,971	7:17 AM
S&P500	Up	0.47%	percent	1,790		8.39
Nasdaq Composite	Up	0.78%	percent	3,952		30.47
30 Year Treasury	Up	2	Basis Points	3.93	Annual Yield

The Labor Department reports Initial jobless claims fell by 21,000 to a seasonally adjusted 323,000 in the week ended Nov. 16. Economists polled by MarketWatch expected a drop to 334,000. This is the biggest drop in nearly three months, but may have been affected by the Veterans Day holiday.

The Treasury Department announced today it plans to sell its remaining 31 million shares of General Motors by the end of the year, if average daily trading volume continue at recent levels. It’s alreay sold 70 million shares of stock for $38.4 billion. At yesterday’s closing price, the U.S. taxpayer will end up losing about $11.4 billion on its $51 billion investment through the Troubled Asset Relief Program. The Treasury argues the cost of the country in lost jobs, lost tax revenue, reduced economic production and more would have been substantial had it not provided the support. Try telling that to an investor.





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

http://www.marketwatch.com/story/jobless-claims-at-lowest-level-in-two-months-2013-11-21
http://www.marketwatch.com/story/treasury-to-sell-remaining-gm-stake-by-year-end-2013-11-21



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