Market Update Report 1/24/2013

January 24, 2013
The KUIK Market Update for Thursday, January 24:
Markets are mixed.
Index Direction Change Units Last Time Change
Dow Up                     64 points             13,843 7:34 AM
S&P500 Up 0.4% percent               1,499               6.58 points
Nasdaq Composite Down -0.2% percent               3,147              (6.76) points
30 Year Treasury Up                       2 Basis Points                 3.05 Annual Yield
Apple is off almost 10.7% to $458.56 on results.  The iPhone sold just under 48 million units, a record, but still on the low side of estimates. The company also issued a revenue and gross-margin forecast for  the current quarter that was below expectations.
The Labor Department reports initial applications for   unemployment benefits fell by 5,000 to a seasonally adjusted 330,000 in the   week ended Jan. 19, the lowest level since January 2008.  Estimates were used for three states that did not file complete information on time, including California and Virginia.
Chinese manufacturing conditions continued improving in January, according to HSBC’s flash manufacturing Purchasing Managers’ Index.  It climbed to a 24-month high of 51.9.
In the US, the Conference Board reported that its leading economic index increased in December to 0.5% in beating estimates of a 0.4%, the strongest result since September. Among the 10 indicators tracked, the largest positive contribution came from fewer claims for unemployment-insurance benefits. The largest negative was from consumers’ expectations.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/apple-earnings-flat-despite-sales-gain-2013-01-23
http://www.marketwatch.com/story/us-jobless-claims-drop-5000-to-330000-2013-01-24-81034335
http://www.marketwatch.com/story/china-factory-activity-improves-further-in-january-2013-01-23
http://www.marketwatch.com/story/leading-economic-index-rises-05-in-december-2013-01-24-1091016
For today’s Morning   Market Report click to listen-> https://beaconrwa.com/audio/Market-Update-Report.mp3