Market Update Report 12/13/2012 | Beacon Rock Wealth Advisors

The KUIK Market Update for Thursday, December 13:
Markets are flat this morning.
Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(10)	points	13,236	7:59 AM
S&P500	Down	-0.04%	percent	1,428		(0.64)	points
Nasdaq Composite	Up	0.15%	percent	3,018		4.60	points
30 Year Treasury	Up	3	Basis Points	2.92	Annual Yield

The Labor Department also reported that the number of people who applied for new U.S. unemployment benefits last week fell below pre-Sandy levels and hovered near a four-year low. Initial jobless claims declined by 29,000 to a seasonally adjusted 343,000 in the week ended Dec. 8. Claims from two weeks ago were revised upward to 372,000 from an initial reading of 370,000.
Yesterday, The Federal Reserve, in a major policy statement, set out the levels for unemployment and inflation before it would consider raising interest rates. Fed Chairman Ben Bernanke will hold rates close to zero while the unemployment rate is above 6.5% as long as inflation is not projected to rise above 2.5%. The Fed had said previously that it expects to hold rates steady until mid-2015.
Home seizures in the U.S. rose 5.4 percent last month, the first annual gain in two years, as lenders seek to manage the flow of distressed properties without disrupting the housing recovery, according to RealtyTrac. Banks repossessed 59,134 homes, up from 56,124 from November 2011.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/jobless-claims-drop-below-pre-sandy-levels-2012-12-13
http://www.marketwatch.com/story/fed-to-buy-more-bonds-sets-jobless-threshold-2012-12-12
http://www.bloomberg.com/news/2012-12-13/home-seizures-rise-as-banks-adjust-to-foreclosure-flow.html
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