Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Wednesday, the 16th of January.<br /><br />Concerns about the global economy are weighing on the markets after the World Bank cut its forecast for global economic growth in 2013.<br /><br />The World Bank said it now expects the global economy to expand by 2.4 percent in 2013 compared to its June forecast for 3 percent growth. Estimates suggest the global economy grew 2.3 in 2012.<br /><br />On a positive note, a report from the Federal Reserve showed a slightly bigger than expected increase in U.S. industrial production in the month of December.<br /><br />The report showed that industrial production increased by 0.3 percent in December following a revised 1.0 percent jump in November. Economists had expected production to edge up by 0.2 percent.<br /><br />The increase in production came as increased manufacturing and mining output more than offset a sharp drop in utilities output.<br /><br />A separate report from the National Association of Home Builders showed that homebuilder confidence held steady at a six-year high in January, while the Labor Department said consumer prices were unchanged in December.<br /><br />Let's see what the Trade Triangles say about the markets today.<br /><br />Every Success,<br />Jeremy Lutz
