Market Update Report 1/6/2014 | Beacon Rock Wealth Advisors

The KUIK Market Update for Monday, January 6:

Markets are mixed.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	2	points	16,471	7:50 AM
S&P500	Down	-0.06%	percent	1,830		(1.03)
Nasdaq Composite	Down	-0.37%	percent	4,116		(15.48)
30 Year Treasury	Down	(3)	Basis Points	3.90	Annual Yield

China is showing signs of slowing. Four of the purchasing managers’ indices–two compiled by the government and two by HSBC –all dropped last month, the first time since April. The HSBC Services PMI, fell to 50.9 for December, compared with November’s 52.5. Aove 50 indicates expansion. China looks set for gross domestic product growth of about 7.6% in the final quarter of 2013, down from 7.8% in the third. That slowdown partly reflects tightening credit s as China’s central bank tries to bring a rapidly growing debt bubble under control.

In the US, The Institute for Supply Management said its services index for December dropped to 53% from 53.9% in November. Economists expected 55.0%. The new-orders index fell 7 points to a reading of 49.4%, the first contraction since July 2009.

However the Commerce Department reports orders for goods produced in U.S. factories jumped 1.8% in November and economists expected only 1.6%. Factory orders fell an upwardly revised 0.5% in October. Orders for durable goods which products meant to last at least three years rose 3.4% in November and orders for nondurable goods increased 0.8%



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

http://www.marketwatch.com/story/chinese-economy-shows-signs-of-slowdown-2014-01-06
http://www.marketwatch.com/story/ism-services-index-lags-as-new-orders-fall-2014-01-06
http://www.marketwatch.com/story/us-factory-orders-rise-18-in-november-2014-01-06-1091732


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