Morning Market Report 11/1/2013 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Friday, November 1:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	82	points	15,628	6:58 AM
S&P500	Up	0.36%	percent	1,763		6.38
Nasdaq Composite	Up	0.37%	percent	3,934		14.62
30 Year Treasury	Up	3	Basis Points	3.66	Annual Yield

The final reading of Markit’s U.S. manufacturing purchasing managers index increased to 51.8 in October from an initial reading of 51.1 and remains below 52.8 in September. The report shows modest improvement in conditions as above 50 signals expansion. However new orders were at their lowest levels since April.

Charles Plosser, the president of the Philadelphia Fed Bank, said today he is growing more worried about the eventual exit from the Fed’s bond-buying program and suggested the central bank put a limit on how large its balance sheet should grow as a way of ending the program. In an interview with CNBC Plosser said the Fed was frustrated that the economy has not improved and suggested one reason could be that quantitative easing was not working. He said the Fed missed an opportunity to reduce the pace of the purchases in September. Plosser has never been a supporter of the third round of asset purchases.He aid the government shutdown will only have a small and temporary impact on the economy. He forecast that the economy will pick up to around a 2.5%-3% rate next year and the unemployment rate will continue to trend lower.





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

http://www.marketwatch.com/story/final-us-markit-pmi-for-october-rises-to-518-2013-11-01-991835
http://www.marketwatch.com/story/feds-plosser-more-worried-about-the-exit-2013-11-01



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