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WEEKLY QUOTE
“One
must shy away from questionable undertakings, even when they bear a
high-sounding name.”
- Albert Einstein
WEEKLY TIP
Collaboration
among investment, legal and accounting professionals may make a big difference
in the scope and execution of a financial strategy.
WEEKLY RIDDLE
Which positive whole number can you add 1.5 to and get the
same result as you do when you multiply it by 1.5?
Last week’s riddle:
The letters in the words meter, man and uses may be rearranged to
make a 12-letter word. What is this word?
Last week’s answer:
Measurements.
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April 1, 2013
SOLID GAINS IN HOUSEHOLD SPENDING,
INCOME
According to the latest Commerce Department report,
household spending was up 0.7% in February (the largest gain in five months) while
consumer incomes jumped 1.1%. February’s 35-cent climb in gasoline prices
influenced the first number, while an 11.9% surge in dividends influenced the
second. Still, consumer spending rose 0.3% in inflation-adjusted terms. The
personal savings rate improved to 2.6%.1,2
CONSUMER POLLS TELL DIFFERENT STORIES
The
University of Michigan’s final consumer sentiment survey for March came in at
78.6, improving by a full point from the end of February. The Conference
Board’s March survey of consumer confidence presented a strikingly different
result: it dropped to 59.7 from February’s 68.0 mark. The CB said the
sequester had a negative influence, while the University of Michigan cited
stock market highs, March’s lower gas prices and the housing recovery as
positive factors.1,2
SMALLER INVENTORY MAY HAVE CURBED HOME
SALES
New
home sales fell 4.6% in February, according to the Census Bureau; the
National Association of Realtors noted a 0.4% decline in pending home sales
for that month. Reduced inventory appears to have been a factor. The January
S&P/Case-Shiller Home Price Index showed a one-month gain of 1.0%.2
FINAL Q4 GDP +0.4%; HARD GOODS ORDERS
JUMP
This
last estimate from the Commerce Department still makes Q4 2012 growth the
smallest in any quarter since 2011. More big ticket items were ordered in
February: durable goods orders soared 5.7% in that month after falling 3.8%
in January.2,3
A RECORD CLOSE FOR THE S&P 500
A
terrific quarter wrapped up Thursday with the S&P settling at 1,569.19,
the Dow at 14,578.54 and the NASDAQ at 3,267.52. March was the fifth straight
positive month for both the S&P and NASDAQ. Last week’s gains: Dow,
0.46%; NASDAQ, 0.69%; S&P, 0.79%. Gold ended the quarter at $1,595.70,
losing 4.8% in three months; oil settled Thursday at $97.23, rising 5.9% in
the quarter.4,5
THIS WEEK: Monday sees
the release of the Institute for Supply Management’s March manufacturing PMI.
Tuesday, the federal government presents data on March auto sales and
February factory orders. ISM’s service sector PMI arrives Wednesday, along
with earnings from ConAgra and Monsanto. Thursday, the European Central Bank
and Bank of England make policy announcements. The Labor Department’s March
employment report comes out on Friday.
Sources: cnbc.com, bigcharts.com, treasury.gov - 3/28/134,6,7,8
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 - www.nytimes.com/reuters/2013/03/29/business/29reuters-consumer-spending.html
[3/29/13]
2 - www.csmonitor.com/Business/2013/0329/Strong-rise-in-consumer-spending-caps-good-week-in-economic-news
[3/29/13]
3 - www.foxbusiness.com/economy/2013/03/26/durable-goods-orders-big-ticket-items-durable-goods/
[3/26/13]
4 - www.cnbc.com/id/100600350
[3/28/13]
5 - www.proactiveinvestors.com/companies/news/42162/oil-caps-longest-winning-streak-of-2013-gold-drops-42162.html
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F28%2F12&x=0&y=0
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F28%2F12&x=0&y=0
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F28%2F12&x=0&y=0
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F28%2F08&x=0&y=0
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F28%2F08&x=0&y=0
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F28%2F08&x=0&y=0
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F28%2F03&x=0&y=0
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F28%2F03&x=0&y=0
[3/28/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F28%2F03&x=0&y=0
[3/28/13]
7 - www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/28/13]
8 - www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/28/13]
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Tuesday, April 2, 2013
Economic Update for the week of April 1st, 2013
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