Thursday, December 27, 2012

Economic Update for the week of December 24th, 2012

WEEKLY ECONOMIC UPDATE


WEEKLY QUOTE
           
“The road to someday leads to a town of nowhere.”
     
- Tony Robbins
    
  
WEEKLY TIP
            
Remember that you can give gifts of a present interest of up to $13,000 to anyone in 2012 without incurring federal gift tax. (For the 2012 tax year, the lifetime gift tax exclusion is set at $5,120,000.)
  
  
WEEKLY RIDDLE
              
George lives on the 26th floor of an apartment building. Each day, he takes the elevator down to lobby and goes to work. When he returns home, he stands in the lobby and presses the elevator button for the 20th floor, gets off on that floor and walks 6 flights up to his residence without stopping. Why doesn’t he just press the button for the 26th floor?
  
   
Last week’s riddle:
What do the letter T and an island have in common?
  
Last week’s answer:
They are both in the middle of water.


December 24, 2012
                                                           
HOW LONG WILL THE FISCAL CLIFF IMPASSE LAST?
Hopes for a fiscal cliff deal dwindled last week as the "Plan B" proposal backed by House Speaker John Boehner failed to attract enough support. Friday, President Obama urged lawmakers to craft a smaller-scale bill that could at least protect long-term jobless benefits and sustain the Bush-era tax cuts for Americans making $250,000 or less. The “Plan B” bill proposed a tax hike for those making more than $1 million; the President has proposed raising taxes on those with incomes of $400,000 or greater. Negotiations resume this week; House Minority Leader Nancy Pelosi believes that “there’s still a chance” of a deal happening before 2013.1,2
  
BIG ANNUAL GAINS IN HOME SALES, HOUSING STARTS
Existing home sales rose 5.9% in November, according to the National Association of Realtors; they were up 14.5% from a year before. While housing starts fell 3.0% last month, the Census Bureau noted a 21.6% yearly gain in the indicator. November also saw a 3.6% rise in building permits, with the annual gain at 26.8%.3
   
MORE SPENDING, LESS OPTIMISM
Consumer spending advanced 0.4% in November, rebounding after a 0.1% retreat in October. The Bureau of Economic Analysis also cited a 0.6% gain in personal incomes last month. However, December’s final consumer sentiment survey from the University of Michigan hit a five-month low of 72.9, down 1.6% from November.4
     
HARD GOODS ORDERS TOP EXPECTATIONS
Durable goods orders rose 0.7% in November, the Census Bureau noted. Economists polled by MarketWatch had expected only a 0.1% overall gain.5
  
AS CLIFF TALKS STALL, STOCKS MANAGE TO RISE
The S&P 500 rose 1.17% last week even with uncertainty lingering on Wall Street. It settled Friday at 1,430.15. The NASDAQ (+1.67% to 3,021.21) and Dow (+0.43% to 13,190.84) also advanced across the last full trading week of 2012. Gold ended the week at just $1,660.10 an ounce on the COMEX after a $14.20 Friday gain. NYMEX crude settled at $88.66 per barrel Friday.4,6,7
  
THIS WEEK: Monday is Christmas Eve; the NYSE will close at 1:00pm EST and take Christmas Day off. October’s S&P/Case-Shiller Home Price Index arrives Wednesday. Thursday, the Conference Board’s latest consumer confidence index appears along with Census Bureau data on November new home sales. The National Association of Realtors releases its November pending home sales report on Friday.
  
% CHANGE
Y-T-D
1-YR CHG
5-YR AVG
10-YR AVG
DJIA
+7.97
+8.95
-0.39
+5.50
NASDAQ
+15.96
+17.19
+2.45
+12.17
S&P 500
+13.72
+14.99
-0.73
+5.97
REAL YIELD
12/21 RATE
1 YR AGO
5 YRS AGO
10 YRS AGO
10 YR TIPS
-0.71%
-0.07%
1.84%
3.10%
 

Sources: thestreet.com, usatoday.com, bigcharts.com, treasury.gov - 12/21/124,6,8,9,10
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly.
These returns do not include dividends.


Please feel free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address.
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«RepresentativeDisclosure»

This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. Marketing Library.Net Inc. is not affiliated with any broker or brokerage firm that may be providing this information to you. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to invest directly in an index. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world's largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions – the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.

Citations.
1 - money.cnn.com/2012/12/21/investing/stocks-markets/index.html [12/21/12]
2 - www.marketwatch.com/story/boehner-not-walking-away-from-cliff-talks-2012-12-21 [12/21/12]
3 - money.msn.com/now/post.aspx?post=804aa73d-050d-4fe5-8985-28861e824d7d [12/21/12]  
4 - www.thestreet.com/story/11799242/1/stock-market-story-dec-21.html [12/21/12]
5 - www.marketwatch.com/story/november-durable-goods-orders-jump-07-2012-12-21 [12/21/12]
6 - www.usatoday.com/money/markets/overview/ [12/21/12]
7 - montoyaregistry.com/Financial-Market.aspx?financial-market=retirement-investment-funds&category=3 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F21%2F11&x=0&y=0 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F21%2F11&x=0&y=0 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F21%2F11&x=0&y=0 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F21%2F07&x=0&y=0 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F21%2F07&x=0&y=0 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F21%2F07&x=0&y=0 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F20%2F02&x=0&y=0 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F20%2F02&x=0&y=0 [12/21/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F20%2F02&x=0&y=0 [12/21/12]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [12/21/12]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [12/21/12]
10 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf [7/10/02]


Tuesday, December 18, 2012

Economic Update for the week of December 17th, 2012

WEEKLY ECONOMIC UPDATE


WEEKLY QUOTE
           
“The first time someone shows you who they are, believe them.”
     
- Maya Angelou
    
  
WEEKLY TIP
            
The “buy now, pay later” mentality is a path to excessive debt. Save now and buy later instead.
  
  
WEEKLY RIDDLE
              
What do the letter T and an island have in common?
  
   
Last week’s riddle:
Victor is assigned to paint suite numbers on doors at an office building with 100 suites, which will be numbered from 1 to 100. How many times will he have to paint the number 8?
  
Last week’s answer:
20 times – 8, 18, 28, 38, 48, 58, 68, 78, 80, 81, 82, 83, 84, 85, 86, 87, 88 (which has two eights in it), 89 and 98.


December 17, 2012
                                                           
INFLATION DECLINES
With gasoline costs falling 7.4% in November and energy costs dipping 4.1% on the whole, it is hardly a surprise that the federal government’s Consumer Price Index fell 0.3% last month – its first decline since May. Core consumer prices rose 0.1%. The Producer Price Index also retreated 0.8% in November. In the past 12 months, America has seen 1.8% overall consumer inflation and 1.5% overall wholesale inflation. In AAA’s December 13 survey, unleaded gasoline was averaging $3.29 per gallon nationally – down 68¢ from its 2012 peak.1,2
  
IF JOBLESS RATE HITS 6.5%, FED MIGHT RAISE RATES
In a remarkably specific policy announcement, the Federal Reserve’s Open Market Committee said that the central bank would keep interest rates at historic lows “at least as long” as unemployment exceeds 6.5% and inflation is projected at 2.5% or less. If the jobless rate continues to fall as it has since July, the Fed could end up adjusting rates prior to 2015. The central bank also said it will buy more debt – it will purchase $45 billion of Treasury bonds per month starting in January.1,3,4,5
   
RETAIL SALES IMPROVE 0.3%
November’s increase was a nice rebound from the 0.3% slip the Commerce Department had reported for October. Economists surveyed by Bloomberg had projected a November gain of 0.5%, however.5
     
STOCKS LOSE GROUND, NO PROGRESS IN WASHINGTON
Major stock indices declined last week as follows: S&P 500, -0.32% to 1,413.58; NASDAQ, -0.23% to 2,971.33; DJIA, -0.15% to 13,135.01. While President Obama and House Speaker John Boehner met privately last Thursday, there was no sign of a fiscal cliff deal emerging in the nation’s capital. Oil settled Friday at $86.73, and gold settled Friday at $1,697.00.6,7,8
   
THIS WEEK: No major U.S. economic releases are scheduled to come out on Monday. Tuesday, a new NAHB Housing Market Index arrives and Oracle offers a new earnings report. Wednesday, we learn about November housing starts and FedEx, Bed Bath & Beyond, Accenture and General Mills come out with earnings. Thursday, the final estimate of Q3 GDP, November existing home sales numbers, the Conference Board index of leading indicators and weekly jobless claims figures complement earnings from Nike, Micron, ConAgra, CarMax, Darden Restaurants, Discover Financial, Rite Aid and RIM. Friday brings the final University of Michigan consumer sentiment survey for December and reports on durable goods orders and consumer spending for November.
  
% CHANGE
Y-T-D
1-YR CHG
5-YR AVG
10-YR AVG
DJIA
+7.51
+11.09
-0.31
+5.57
NASDAQ
+14.06
+17.01
+2.55
+11.81
S&P 500
+12.40
+16.65
-0.74
+5.89
REAL YIELD
12/14 RATE
1 YR AGO
5 YRS AGO
10 YRS AGO
10 YR TIPS
-0.74%
-0.04%
1.90%
3.10%
 

Sources: usatoday.com, cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 12/14/126,7,8,10,11,12
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly.
These returns do not include dividends.


Please feel free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address.
We will contact them first and request their permission to add them to our list.


«RepresentativeDisclosure»

This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. Marketing Library.Net Inc. is not affiliated with any broker or brokerage firm that may be providing this information to you. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to invest directly in an index. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world's largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions – the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.

Citations.
1 - www.bloomberg.com/news/2012-12-14/consumer-prices-in-u-s-decline-more-than-forecast-in-november.html [12/14/12]
2 - www.businessweek.com/news/2012-12-13/wholesale-prices-in-u-dot-s-dot-fell-more-than-forecast-in-november [12/13/12]
3 - www.cnbc.com/id/100311233 [12/13/12] 
4 - www.federalreserve.gov/newsevents/press/monetary/20121212a.htm [12/12/12]
5 - www.bloomberg.com/news/2012-12-13/retail-sales-increase-as-americans-snap-up-autos-electronics.html [12/13/12]
6 - www.usatoday.com/money/markets/overview/ [12/14/12]
7 - www.cnbc.com/id/100315158 [12/14/12]
8 - online.wsj.com/mdc/page/marketsdata.html [12/14/12]
9 - montoyaregistry.com/Financial-Market.aspx?financial-market=retirement-investment-funds&category=3 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F14%2F11&x=0&y=0 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F14%2F11&x=0&y=0 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F14%2F11&x=0&y=0 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F14%2F07&x=0&y=0 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F14%2F07&x=0&y=0 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F14%2F07&x=0&y=0 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F13%2F02&x=0&y=0 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F13%2F02&x=0&y=0 [12/14/12]
10 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F13%2F02&x=0&y=0 [12/14/12]
11 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [12/14/12]
11 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [12/14/12]
12 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf [7/10/02]


Wednesday, December 12, 2012

Economic Update for the week of Dec. 10th, 2012

WEEKLY ECONOMIC UPDATE


WEEKLY QUOTE
           
“Intelligence without ambition is a bird without wings.”
     
- Salvador DalĂ­
    
  
WEEKLY TIP
            
Self-employed? The annual deadline to set up a Keogh plan is December 31, and Keogh contributions for 2012 can be made up to the due date for filing your tax return.
  
  
WEEKLY RIDDLE
              
Victor is assigned to paint suite numbers on doors at an office building with 100 suites, which will be numbered from 1 to 100. How many times will he have to paint the number 8?
  
   
Last week’s riddle:
Liz went into a convenience store at 1:58am on a Sunday morning to get a coffee. She drove six miles away and then returned to the store to get a lotto ticket ... also at 1:58am. The store’s clock was working perfectly, so how could it be 1:58am again when she returned?
  
Last week’s answer:
Liz made her trips to the convenience store during the morning when clocks were set back an hour at the end of Daylight Saving Time (at 2:00am).


December 10, 2012
    
JOBLESS RATE DROPS, SURPRISING ANALYSTS
Non-farm payrolls expanded by 146,000 positions in November. Economists polled by Reuters had expected only 93,000 new jobs because of the impact of Superstorm Sandy. Yet while the jobless rate dipped to 7.7% last month, it was largely because fewer people sought work; the labor force participation rate was 63.6%, scraping an all-time low. The economy has added an average of 151,000 jobs a month in 2012, about 25% less than the growth needed to dramatically reduce unemployment.1,2
  
SENTIMENT INDEX SLIPS
The fiscal cliff issue and ferocious weather may have been big factors in the sudden 8.2% drop in the University of Michigan’s consumer sentiment index. November’s 74.5 preliminary reading was far from the number (82.7) that economists surveyed by Reuters had forecast.2
   
MANUFACTURING CONTRACTS
For November, the Institute for Supply Management gauged service sector expansion and manufacturing sector contraction. ISM’s manufacturing index fell to 49.5 for the month, down from 51.7 in October. The non-manufacturing index was at 54.7, improved from October’s 54.2 mark.3
     
MIXED WEEK FOR STOCKS, NO PROGRESS AT THE CLIFF
With the fiscal cliff less than four weeks away, neither Democrats nor Republicans were citing any compromise on tax rates on Capitol Hill (though the idea of setting the top federal tax bracket at 37% rather than 39.6% had emerged). House Speaker John Boehner said that the White House had “wasted another week” due to the Obama administration’s stubbornness; House Democratic leader Nancy Pelosi felt that the Republican leadership was just as inflexible. The major index performance for the week: Dow, +0.99% to 13,155.13; NASDAQ, -1.07% to 2,978.04; S&P 500, +0.13% to 1,418.07. Oil ended the week at just $85.93 a barrel on the NYMEX and gold settled Friday at $1,705.50 an ounce on the COMEX.2,4,5,6,7
  
THIS WEEK: No major U.S. economic releases are scheduled for Monday. On Tuesday, Dollar General reports earnings. Wednesday, the Federal Reserve makes a policy announcement (with a corresponding press conference), OPEC wraps up a meeting of its oil ministers, and Costco unveils its latest earnings. The Census Bureau’s November retail sales numbers arrive on Thursday, along with November’s PPI, the latest weekly jobless claims figures and earnings from Hovnanian, Pier 1 Imports and Adobe Systems. Friday sees the release of the November CPI and data on November’s industrial production.
  
% CHANGE
Y-T-D
1-YR CHG
5-YR AVG
10-YR AVG
DJIA
+7.67
+7.86
-0.69
+5.22
NASDAQ
+14.31
+12.41
+2.01
+10.94
S&P 500
+12.76
+12.46
-1.15
+5.55
REAL YIELD
12/7 RATE
1 YR AGO
5 YRS AGO
10 YRS AGO
10 YR TIPS
-0.86%
-0.01%
1.86%
3.10%
 

Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 12/7/122,8,9,10
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly.
These returns do not include dividends.


Please feel free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address.
We will contact them first and request their permission to add them to our list.


«RepresentativeDisclosure»

This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. Marketing Library.Net Inc. is not affiliated with any broker or brokerage firm that may be providing this information to you. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to invest directly in an index. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world's largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions – the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.

Citations.
1 - www.reuters.com/article/2012/12/07/us-usa-economy-idUSBRE8B605F20121207 [12/7/12]
2 - www.cnbc.com/id/100289757 [12/7/12]
3 - www.ism.ws/ISMReport/NonMfgROB.cfm [12/5/12]
4 - www.cnn.com/2012/12/07/politics/fiscal-cliff/index.html [11/27/12]
5 - www.politico.com/story/2012/12/boehner-on-fiscal-cliff-no-progress-to-report-84753.html [12/7/12]
6 - www.bloomberg.com/news/2012-12-07/soybeans-corn-fall-most-in-three-weeks-commodities-at-close.html [12/7/12]
7 - montoyaregistry.com/Financial-Market.aspx?financial-market=retirement-investment-funds&category=3 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F7%2F11&x=0&y=0 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F7%2F11&x=0&y=0 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F7%2F11&x=0&y=0 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F7%2F07&x=0&y=0 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F7%2F07&x=0&y=0 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F7%2F07&x=0&y=0 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F6%2F02&x=0&y=0 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F6%2F02&x=0&y=0 [12/7/12]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F6%2F02&x=0&y=0 [12/7/12]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [12/7/12]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [12/7/12]
10 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf [7/10/02]