Market Update Report 4/11/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Thursday, April 11:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	62	points	14,864	8:07 AM
S&P500	Up	0.47%	percent	1,595		7.43	points
Nasdaq Composite	Up	0.17%	percent	3,303		5.60	points
30 Year Treasury	Down	(2)	Basis Points	2.99	Annual Yield

Initial jobless claims fell by 42,000 to a seasonally adjusted 346,000 in the week ended March 30, according to the Labor Department. That is the smallest number of applications in three weeks. Economists surveyed by MarketWatch had expected a drop to 360,000 from a revised 388,000 the prior week.

The Labor Department also report the prices paid for imported goods fell 0.5% in March, mostly because of lower fuel costs. That met expectations.

A drop in first-quarter PC sales reported by research firm IDC was blamed on the public’s rejection of Microsoft’s Windows 8 and the rise of tablets and smartphones. Global PC sales in the first quarter dropped 13.9% to 76.4 million, according to the IDC Worldwide Quarterly PC Tracker. IDC earlier predicted the drop would only be 7.7%.

Semiconductor stocks were downgraded to neutral by Barclays Capital saying “the growth profile in semis is much lower than many expect.” Barclays also cut the rating on Broadcom Corp. to underweight from overweight, citing potential market share loss. Barclays analyst Blayne Curtis said he expects Intel to post inline results,

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

http://www.marketwatch.com/story/us-jobless-claims-drop-42000-to-346000-2013-04-11
http://www.marketwatch.com/story/us-import-prices-drop-05-in-march-2013-04-11
http://247wallst.com/2013/04/11/dell-deal-in-danger-as-pc-sales-fall/?link=mktw
http://www.marketwatch.com/story/chips-cut-to-neutral-by-barclays-2013-04-11?dist=markets

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