October 12, 2012

Morning Market Report 10/12/2012

The KUIK Morning Market Report for Friday, October 12:
Markets are mixed this morning.
Index	Direction	Change	Units	Last	Time	Change
Dow	Up	38	points	13,365	8:00 AM
S&P500	Flat	0.0%	percent	1,444		(0.08)	points
Nasdaq Composite	Down	0.2%	percent	30,570		(2.22)	points
30 Year Treasury	Down	(2)	Basis Points	2.83	Annual Yield
JPMorgan Chase, the largest US Bank by assets reported before the market open. Year-on-year profit rose34%, to $5.7 billion or $1.40 a share, beating analyst estimates. The bank said losses on its remaining wrong-way bet on credit derivatives were “modest” in the third quarter after it lost $5.8 billion in the first half of 2012.
In Europe, industrial production unexpectedly increased for a second month in August. Output rose 0.6 percent from July, when it increased a revised 0.6 percent. Economists had projected a drop of 0.4 percent.
Wholesale prices more than forecast in September, reflecting a jump in fuel costs that did not work its way to other goods. The Labor Department reported the producer price index climbed 1.1 percent after a 1.7 percent gain in August. The median estimate from Bloomberg was for a 0.8 percent increase. Core producer inflation, which excludes food and energy prices, was unchanged, the first time it didn’t increase since October 2011.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/jp-morgans-profit-rises-34-2012-10-12?dist=beforebell
http://www.bloomberg.com/news/2012-10-12/u-s-stock-futures-gain-s-p-500-heads-for-weekly-slide.html
http://www.bloomberg.com/news/2012-10-12/wholesale-prices-in-u-s-rise-more-than-forecast-on-fuel.html
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