| The KUIK Morning Market Report for Wednesday, January 2: | |||||||
| Markets had a strong open. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 264 | points | 13,367 | 6:57 AM | ||
| S&P500 | Up | 2.1% | percent | 1,457 | 30.40 | points | |
| Nasdaq Composite | Up | 2.8% | percent | 3,102 | 82.76 | points | |
| 30 Year Treasury | Up | 8 | Basis Points | 3.04 | Annual Yield | ||
| Stocks are up, after the largest year-end rally for the Standard & Poor’s 500 Index since 1974, as lawmakers passed a bill averting spending cuts and tax increases threatening a recovery in the US economy. That overshadows all other investment news. | |||||||
| The worry about a spike in milk prices has abated. A farm bill was included in the fiscal cliff package. It calls for extending most American farm-support programs for one year, and was included at the request of Senate Minority Leader Mitch McConnell, Republican from Kentucky. | |||||||
| President Obama vowed again Tuesday night not to negotiate in connection with raising the U.S. debt limit. The President thanked Democratic and Republican leaders for approving the deal, but he added that “we all recognize this law is just one step” in dealing with U.S. debt problems. The U.S. officially reached its legally mandated borrowing limit Monday, | |||||||
| Treasury prices dropped, pushing benchmark 10-year yields to their highest level since September, on relief following over the deal with the dollar falling against other currencies and gold up. February gold is up $15, or 0.9%, to $1,690.80 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.bloomberg.com/news/2013-01-02/u-s-stock-index-futures-rally-as-fiscal-cliff-averted.html | |||||||
| http://www.marketwatch.com/story/budget-deal-eases-concern-about-milk-prices-2013-01-01 | |||||||
| http://www.marketwatch.com/story/obama-cheers-cliff-deal-wont-debate-debt-limit-2013-01-01 | |||||||
| http://www.marketwatch.com/story/treasury-yields-rise-to-highest-since-september-2013-01-02 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Morning-Market-Report.mp3 | ||||||