Morning Market Report 12/31/2012 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Monday, December 31:

Markets opened mixed on cliff day.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(16)	points	12,924	6:56 AM
S&P500	Up	0.1%	percent	1,404		1.64	points
Nasdaq Composite	Up	0.3%	percent	2,970		10.09	points
30 Year Treasury	Up	1	Basis Points	2.90	Annual Yield

The House Agriculture Committee is working on a short-term extension of a farm law that lapsed Sept. 30. The Obama administration warns that without congressional action, retail milk prices could almost double. The draft bill would extend current law, along with disaster aid for producers affected by this year’s U.S. drought and changes to current milk policy through Sept. 30.

European stocks ended mixed. The Stoxx Europe 600 index finished 0.2% higher Monday to 279.36, for a 2012 gain of more than 14%.

Asian stocks ended mostly lower amid concerns about the U.S. fiscal cliff, although mainland Chinese shares finished the year on an upbeat note after manufacturing data showed the sector extended its recovery. Hong Kong’s Hang Seng Index finished slightly lower, while China’s Shanghai Composite Index finished 1.6% higher. The advance in Shanghai came after HSBC’s final reading of the China manufacturing Purchasing Managers’ Index came in at 51.5, revised upward from a preliminary measure of 50.9 the best since May 2011. November was 50.5.



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

http://www.bloomberg.com/news/2012-12-31/farm-state-lawmakers-back-plan-to-avoid-dairy-cliff-price-jump.html
http://www.marketwatch.com/story/asia-stocks-mostly-down-on-lack-of-us-cliff-deal-2012-12-30
http://www.marketwatch.com/story/asia-stocks-mostly-down-on-lack-of-us-cliff-deal-2012-12-30


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