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WEEKLY QUOTE
“Don't
be intimidated by what you don't know. That can be your greatest strength and
ensure that you do things differently from everyone else.”
- Sara Blakely
WEEKLY TIP
Each
day brings breaking news; beware of abruptly altering your long-range financial
strategy in response.
WEEKLY RIDDLE
You
have been hired by an eccentric farmer, who requests that you build four pens
for his nine sheep, but only allow an odd number of sheep in each pen. How do
you accomplish this?
Last week’s riddle:
I nearly always lie on a surface, and I come in different shapes
and sizes, often with curves. You can put me anywhere you like, yet there is
only one proper place for me. What am I?
Last week’s answer:
A
jigsaw puzzle piece.
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July 30,
2012
CONSUMERS ARE STILL A BIT CYNICAL
The
good news is that the University of Michigan’s final July index of consumer
sentiment improved from its 72.0 preliminary reading to a final mark of 72.3.
Still, that represents a 2012 monthly low for the gauge, which had finished
June at 73.2.1
NEW &
PENDING HOME SALES dECLINE
In
year-over-year terms, things look sunny: new home sales were up 15.1% in June
compared with June 2011 and pending home sales were 9.5% improved from a year
before. June reports from the Census Bureau and National Association of
Realtors were respectively gloomy, however: new home sales dropped an
alarming 8.4% after two months of gains, and contracts to purchase existing
homes decreased by 1.4%.2,3
GDP LOOKS
WEAK; HARD GOODS ORDERS SURPRISE
The
federal government’s second estimate of Q2 GDP (+1.5%) represents the tamest
growth since Q3 2011. June’s durable goods orders beat forecasts, registering
a 1.6% increase (economists polled by Briefing.com had predicted a gain of
0.3%).1,4,5
DOW LOGS BEST 3 DAYS OF THE YEAR
How
could that happen with such negative indicators? Two words: renewed hope. Thursday,
European Central Bank president Mario Draghi said the ECB would do whatever
is needed to save the euro; Friday, Draghi was reportedly talking with
Germany’s central bank about coordinated sovereign debt purchases. So the Dow (+1.97% to 13,075.66),
NASDAQ (+1.12% to 2,958.09) and S&P 500 (+1.71% to 1,385.97) all did well
last week. COMEX gold rose 2.22% last week to end Friday at $1,618.00; oil settled
at $90.13 Friday, as prices slipped 1.85% across five days.1,4,6
THIS WEEK: Monday,
earnings from Anadarko and HSBC are in. Tuesday, June consumer spending data
and May’s Case-Shiller Home Price Index arrive along with Q2 results from
Aetna, Pfizer, Deutsche Bank, Goodyear, DreamWorks, BP, Honda, UBS, Valero
and Electronic Arts. Markets will watch Washington on Wednesday as a Federal
Reserve policy meeting ends; July’s ISM manufacturing index, July auto sales
figures and earnings from MasterCard, Yelp, Time Warner, Burger King,
Marathon Oil, Hartford Financial, Green Mountain Coffee, Comcast, MetLife and
Prudential Financial also appear. Will the ECB make a move when its policy
meeting concludes Thursday? Stateside, that day brings the latest initial jobless
claims, data on June factory orders and Q2 results from Clorox, GM, Kraft,
AIG, Sony, Activision Blizzard, LinkedIn, Sunoco and Kellogg. Friday, the
June jobs report and ISM’s June service sector index appear; Q2 results come
in from Beazer, Viacom, Toyota, NYSE Euronext, Procter & Gamble and Berkshire
Hathaway.
Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 7/27/124,7,8,9
Indices are unmanaged, do not
incur fees or expenses, and cannot be invested into directly.
These returns do not include
dividends.
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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.msn.com/market-news/post.aspx?post=51f8caab-e29b-4584-b079-effc8020cb48
[7/27/12]
2 - www.cnbc.com/id/48335711 [7/26/12]
3 - www.cbsnews.com/8301-505145_162-57480113/new-home-sales-drop-but-up-for-the-year/
[7/27/12]
4 - money.msn.com/market-news/post.aspx?post=ed48f96d-7a7c-4319-8c50-47ce5224d6c8
[7/27/12]
5 - briefing.com/investor/calendars/economic/2012/07/23-27
[7/27/12]
6 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F27%2F11&x=0&y=0
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F27%2F11&x=0&y=0
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F27%2F11&x=0&y=0
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F27%2F07&x=0&y=0
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F27%2F07&x=0&y=0
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F27%2F07&x=0&y=0
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F26%2F02&x=0&y=0
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F26%2F02&x=0&y=0
[7/27/12]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F26%2F02&x=0&y=0
[7/27/12]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[7/27/12]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[7/27/12]
9 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf
[7/10/02]
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Tuesday, July 31, 2012
Economic Update for the week of July 30th, 2012
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