Morning Market Report 12/5/2013 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, December 5:

Markets are down.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(32)	points	15,858	7:01 AM
S&P500	Down	-0.13%	percent	1,790		(2.42)
Nasdaq Composite	Up	0.05%	percent	4,040		2.11
30 Year Treasury	Up	0	Basis Points	3.91	Annual Yield

The U.S. economy expanded at a 3.6% annual pace in the third quarter, the fastest increase in a year and a half, but the revised gain was fueled by a large buildup in inventories. This was the largest increase in inventories since 1998, and probably means slower inventory growth next quarter. Most economists expect a slowdown in the final three months of of 2013 that would pull GDP below 2%. Economists polled by MarketWatch had expected GDP to be revised up to 3.2% from an initial reading of 2.8%.

The Labor Department reports the number of new applications for unemployment benefits fell by 23,000 last week to 298,000, but the decline may have been affected by seasonal adjustments during the holidays.

Dennis Lockhart, President of the Atlanta Federal Reserve Bank said the Fed should consider pulling back from its $85 billion asset purchase plan in coming meetings, including December. Lockhart is not a voting member of the Fed’s policy-making committee this year but his views usually represent the mainstream of opinion at the central bank.



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

http://www.marketwatch.com/story/us-third-quarter-growth-fastest-since-2012-2013-12-05
http://www.marketwatch.com/story/jobless-claims-drop-23000-to-298000-2013-12-05
http://www.marketwatch.com/story/time-for-fed-to-put-taper-on-table-lockhart-says-2013-12-05


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