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Nightly Business Report - Wednesday April 3 2013

Nightly Business Report - Wednesday April 3 2013

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Tonight on Nightly Business Report – investors are pouring money into U.S. ETFs. We’ll look at whether this trend will continue and show you which funds are topping investors’ lists.
Plus, it’s a $5 billion dollar problem that’s getting worse. False identity tax refund fraud. NBR tells you what you need to know.
Tonight on Nightly Business Report – investors are pouring money into U.S. ETFs. We’ll look at whether this trend will continue and show you which funds are topping investors’ lists.
Plus, it’s a $5 billion dollar problem that’s getting worse. False identity tax refund fraud. NBR tells you what you need to know.

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Published by: Nightly Business Report by CNBC on Apr 04, 2013
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 <Show: NIGHTLY BUSINESS REPORT><Date: April 3, 2013><Time: 18:30:00><Tran: 040301cb.118><Type: SHOW><Head: NIGHTLY BUSINESS REPORT for April 3, 2013, PBS><Sect: News; International><Byline: Tyler Mathisen, Sue Herera, John Harwood, Seema Mody, Scott Cohn><Guest: Bob Auwaerter, Michael Barr, Joe Lavorgna><Spec: Asia; Defense; Economy; North Korea, Safety; Stock Markets; Government; Housing;Policies; Abuse; Crime; Taxes><Time: 18:30:00>ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen andSusie Gharib, brought to you by --(COMMERCIAL AD)TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Korean concern.The defense secretary says the U.S. sees a real and clear danger from North Korea, and stockssuffer a triple digit sell-off.
 
SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Housing blueprint. Isthere a plan afoot to make home loans more available to customers with weaker credit? The prosand cons for such a move.MATHISEN: And refund fraud. The $5 billion problem that targets you, and why it`sgetting worse.All that and more coming up tonight.Good evening, everybody. And welcome. I`m Tyler Mathisen.HERERA: And I`m Sue Herera, I`m filling in for Susie Gharib. She has the evening off.Ty, geopolitics, rather, really rattled investors today.MATHISEN: Absolutely they did.You know, stocks retreated broadly today in the worst day for equities since way back onFebruary 25. Two economic reports get a share of the blame. A gauge of service industryactivity came in lower than expected as did a widely watched private measure of payroll gains.Those rising tensions on the Korean peninsula compounded the worries and the sell-off especially from midday on.Those fears of a weaker-than-expected economy also hit oil and metals.Gold, by the way, touched its lowest level since last June 28.
 
Financials and energy shares lead stocks lower and at the close in New York today. TheDow Industrials were off 112 points at 14,550. The S&P500 was down 16 1/2 at 1,553 and change. And the NASDAQ, the biggest percentage loser here, was down 36 to 3,218.Well, an interesting trend developing in the market if you believe -- as goes the DowTransports, so go the Dow Industrials. You may want to take a look here. For the first threedays of April, the Transports are down about 4 percent while the Dow Industrials are roughly break even. Now, this is significant because, as you can see on this graphic, over the past 20 years or so, the two, the transports and the industrials tend to move pretty much in lockstep, and two points of divergence of note here on this chart, the first from 1999 to 2002 and the second between `07 and`08 did coincide with major stock market downturns.HERERA: And something else to think about, the Barclays U.S.aggregate bond index, which is akin to the S&P 500 index, only for bonds, was negative in thefirst quarter. And that is very rare.Here to give us his take on the state of the fixed income market and the challenges that lieahead for bond investors is Bob Auwaerter. He is the head of fixed income at Vanguard.Welcome, Bob. Nice to have you here.First of all --BOB AUWAERTER, VANGUARD FIXED INCOME GROUP PRINCIPAL: Good to be here.

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