Market Update Report 12/20/2013

December 20, 2013
The KUIK Market Update for Friday, December 20:
Markets are up.
Index Direction Change Units Last Time Change
Dow Up                     74 points           16,245 8:11 AM
S&P500 Up 0.48% percent             1,818             8.65
Nasdaq Composite Up 0.78% percent             4,090            31.53
30 Year Treasury Down                      (4) Basis Points               3.86 Annual Yield
The Commerce Department reports that the The U.S. economy expanded at a 4.1% annual clip in the third quarter, the strongest performance in two years, owing to faster consumer spending and more business investment .  It was revised upward from 3.6%.   Consumer spending rose 2% instead of 1.4% as previously reported, though the increase was mostly in  gasoline and health care.
Yesterday, gold futures hit their lowest settlement in more than three years on the Fed tapering and a rally in the US dollar.  February gold is down   0.1%, to $1,192.20 an ounce.
 The Centers for Medicare and Medicaid Services announced  consumers who have received cancellation notices from their insurers could purchase cheaper, “catastrophic” coverage if their out-of-pocket costs to get a new policy are higher than they have been.  The move comes after repeated proclamations from President Obama that those who liked their plans  could keep them, followed by  thousands of cancellations by insurers who said their policies no longer met the standards of Obama’s health-care overhaul.  Karen Ignagni, chief executive of the industry’s  trade group, America’s Health Insurance Plans, said: “This latest rule change could cause significant instability in the marketplace and lead to further confusion and disruption for consumers.”
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/us-third-quarter-gdp-revised-up-to-41-2013-12-20
http://www.marketwatch.com/story/gold-prices-bounce-off-three-year-lows-2013-12-19
http://blogs.marketwatch.com/health-exchange/2013/12/20/new-tweak-to-obamacare-not-welcomed-by-insurers-investors/
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