| The KUIK Market Update for Monday, December 17: | |||||||
| Markets are up this morning. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 50 | points | 13,185 | 8:08 AM | ||
| S&P500 | Up | 0.59% | percent | 1,422 | 8.41 | points | |
| Nasdaq Composite | Up | 0.54% | percent | 2,987 | 16.04 | points | |
| 30 Year Treasury | Up | 1 | Basis Points | 2.88 | Annual Yield | ||
| Manufacturing in the New York region shrank more than forecast in December, showing weakness is persisting as the year ends. The Federal Reserve Bank of New York’s general economic index dropped to minus 8.1, the fifth month of contraction, from minus 5.2 in November. The median forecast of economists in a Bloomberg survey was for minus 1. Readings of less than zero signal contraction in New York, northern New Jersey and southern Connecticut. | |||||||
| Japanese stocks jumped after yesterday’s election saw the conservative Liberal Democratic Party sweep to victory with a resounding win. The Nikkei Stock Average gained 1.5% t and the yen weakened against the dollar. Shinzo Abe will be the new prime minister. Abe has vowed to adopt a large stimulus, cut interest rates and take other measures to revive growth in the world’s third largest economy. | |||||||
| Do bond ratings matter? The global bond market disagreed with Moody’s Investors Service and Standard & Poor’s more often than not this year when the companies told investors that governments were becoming safer or more risky. Yields on government securities moved in the opposite direction from what ratings suggested in 53 percent of the 32 upgrades, downgrades and changes in credit outlook, according to data compiled by Bloomberg. That’s worse than the longer-term average of 47 percent, based on more than 300 changes since 1974. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2012-12-17/manufacturing-in-new-york-region-contracts-more-than-projected.html | |||||||
| http://www.marketwatch.com/story/yen-weakens-after-oppositions-election-victory-2012-12-16 | |||||||
| http://www.bloomberg.com/news/2012-12-16/moody-s-getting-no-respect-as-bonds-shun-56-of-country-ratings.html | |||||||
| For today’s Market Update Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||