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WEEKLY QUOTE
“If
you don’t know where you are going, any road will take you there.”
- Lewis Carroll
WEEKLY TIP
As
your household’s income and expenses increase with time, so should the size
of your emergency fund. It should be large enough to cover 3-6 months of
household costs.
WEEKLY RIDDLE
Your
mother’s brother’s only brother-in-law is taking a picture of you. How is he
more closely related to you?
Last week’s riddle:
No matter how little or how much you use me, you change your view
of me every month. What am I?
Last week’s answer:
A calendar.
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May 26,
2015
HOMEBUYING SLOWS, CONSTRUCTION ACCELERATES
The
National Association of Realtors offered some good news and some bad news
last week. While existing home sales decreased 3.3% in April, they were up
6.1% from a year ago. Along with the annual improvement in the pace of
resales, the median home price rose 8.9% year-over-year to $219,400. April
also saw a 20.2% leap in housing starts, taking groundbreaking
to a high unseen since November 2008; the Commerce Department also noted a
10.1% increase in building permits last month.1,2
CONSUMER PRICES BARELY RISE
April brought just an 0.1% advance for the Consumer Price
Index, a development influenced by a 1.7% fall in gasoline costs. (The
average price for a gallon of unleaded was $2.73 as of Memorial Day weekend,
nearly a dollar lower than a year ago.) In the bigger picture, the headline
CPI declined 0.2% year-over-year. The Labor Department did report an 0.3%
increase in the core CPI (which excludes energy and food prices); it rose
1.8% in a year. 3
GOLD SLIPS, OIL STAYS UNDER $60 A
BARREL
With the dollar recovering from a brief slump and Federal
Reserve chair Janet Yellen commenting Friday that the Federal Reserve is
still likely to raise interest rates this year, metals were hurt last week.
Gold lost 1.7% on the COMEX, silver 2.9% and copper 3.9%. Oil settled at
$59.72 on the NYMEX Friday, moving only $0.03 higher on the week.4
A MINOR ADVANCE FOR THE S&P 500
A fairly placid trading week saw the broad benchmark rise
0.16% to 2,126.06. From May 18-22, the Dow lost 0.22% while the Nasdaq gained
0.81%. The Nasdaq settled Friday at 5,089.36, the Dow at 18,232.02. 5
THIS WEEK: U.S.
financial markets are closed Monday as the nation observes Memorial Day. Wall
Street interprets reports on April new home sales and hard goods orders Tuesday,
along with earnings from AutoZone, TiVo and Workday. On Wednesday, Tiffany, Palo
Alto Networks, Toll Brothers, Costco, Popeye’s, Valspar and Michael Kors
report results. Thursday, investors will eye the latest weekly jobless claims
report and NAR’s report on April pending home sales; earnings from Abercrombie
& Fitch, Express and GameStop will also arrive. On Friday, the second
estimate of first quarter GDP is announced and Big Lots presents Q1 results.
Sources: wsj.com, bigcharts.com, treasury.gov - 5/22/156,7,8,9
Indices
are unmanaged, do not incur fees or expenses, and cannot be invested into
directly. These returns do not include dividends. 10-year TIPS real yield =
projected return at maturity given expected inflation.
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«RepresentativeDisclosure»
This material was prepared by MarketingPro,
Inc., and does not necessarily represent the views of the presenting party,
nor their affiliates. This information has been derived from sources believed
to be accurate. Please note - investing involves risk, and past performance
is no guarantee of future results. 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. 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.
This is neither a solicitation nor recommendation to purchase or sell any
investment or insurance product or service, and should not be relied upon as
such. All indices are unmanaged and are not illustrative of any particular
investment. 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. This material represents an assessment
of the market environment at a specific point in time and is not intended to
be a forecast of future events, or a guarantee of future results. Past
performance is no guarantee of future results. Investments will fluctuate and when
redeemed may be worth more or less than when originally invested. 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 - nasdaq.com/article/us-existinghome-sales-decline-33-in-april-20150521-01387
[5/22/15]
2 - marketwatch.com/story/housing-starts-surge-20-in-april-2015-05-19
[5/19/15]
3 - usatoday.com/story/money/2015/05/22/consumer-prices-april/27737861/
[5/22/15]
4 - proactiveinvestors.com/companies/news/61602/gold-drops-01-to-settle-at-1204-wti-drops-17-to-5972--61602.html
[5/22/15]
5 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[5/22/15]
6 - markets.wsj.com/us [5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F22%2F14&x=0&y=0
[5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F22%2F14&x=0&y=0
[5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F22%2F14&x=0&y=0
[5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F21%2F10&x=0&y=0
[5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F21%2F10&x=0&y=0
[5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F21%2F10&x=0&y=0
[5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F23%2F05&x=0&y=0
[5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F23%2F05&x=0&y=0
[5/22/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F23%2F05&x=0&y=0
[5/22/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[5/22/15]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[5/22/15]
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Tuesday, May 26, 2015
Economic Update for the week of May 26th, 2015
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