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WEEKLY QUOTE
“Sometimes
a slow gradual approach does more good than a large gesture.”
- Craig Newmark
WEEKLY TIP
If
you are starting up a small business, realistically list all essential
expenses you will incur during the first six months, from utility and Internet
bills to rent and employee wages.
WEEKLY RIDDLE
On
a summer day, two fathers and two sons went fishing and each one of them
caught one fish. Why did they return home with just three fish?
Last week’s riddle:
You throw it out when you need to use it. You bring it up when
you don’t. As you travel, it goes with you. What is it?
Last week’s answer:
An anchor.
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June 8,
2015
NO LETUP IN HIRING IN MAY
Last
Thursday, the International Monetary Fund took the unusual step of offering
the Federal Reserve some advice – it urged the central bank not to raise interest
rates until 2016. Given the large hiring gains this spring, the Fed may
choose to ignore that recommendation. U.S. employers added 280,000 new
workers last month; since the labor force participation rate slightly
increased, the jobless rate ticked up to 5.5% in May with the broader U-6
rate (unemployed+ underemployed) remaining at 10.8%. According to Labor
Department data, 120,000 of the new jobs were in the leisure &
hospitality and service industry sectors, but there were also 47,000 hires in
the health care sector.1
Consumer
spending was flat IN April
This news was a disappointment after the 0.5% advance the
Commerce Department measured for March. Consumer incomes, however, improved
0.4% in April; in March, there was no gain.2
ISM: SERVICES PMI SLIPS, FACTORY PMI
RISES
Falling 2.1 points to 55.7 in May, the Institute for
Supply Management’s services sector PMI came in below the 57.0 reading
projected by economists polled by MarketWatch. ISM’s manufacturing PMI rose
1.3 points in May to 52.8, beating the MarketWatch consensus forecast by a
full point.2
A RETREAT ON WALL STREET
The first trading week of June saw the S&P 500 slip 0.69%
across five days to 2,092.83. From June 1-5, the Nasdaq lost just 0.03% to
5,068.46 while the Dow declined 0.90% to 17,849.46. Oil slumped 1.9% – its
first down week in three months – to a settlement of $59.13 on the NYMEX
Friday. COMEX gold gave back 1.8% for the week, closing Friday at $1,168.00
an ounce.3,4
THIS WEEK: On
Monday, Sears Holdings, H&R Block, Dave & Buster’s and Casey’s
General Stores present earnings and Apple kicks off its worldwide developer
conference. Tuesday offers earnings from Lululemon Athletica, Converse, Pep
Boys, Hovnanian, Burlington Stores and Quiksilver and a Commerce Department
report on April wholesale inventories. Krispy Kreme and Men’s Wearhouse
announce earnings Wednesday. On Thursday, the Commerce Department releases
May retail sales numbers; the latest initial jobless claims report also
arrives, plus earnings from Restoration Hardware and Korn/Ferry. Friday, May’s
Producer Price Index and the initial June University of Michigan consumer
sentiment index appear.
Sources: wsj.com, bigcharts.com, treasury.gov - 6/5/155,6,7,8
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 - tinyurl.com/p2joeax [6/5/15]
2 - marketwatch.com/economy-politics/calendars/economic [6/4/15]
3 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[6/5/15]
4 - proactiveinvestors.com/companies/news/61835/gold-slides-06-to-1168-wti-adds-2-to-5913-61835.html
[6/5/15]
5 - markets.wsj.com/us [6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F5%2F14&x=0&y=0
[6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F5%2F14&x=0&y=0
[6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F5%2F14&x=0&y=0
[6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F4%2F10&x=0&y=0
[6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F4%2F10&x=0&y=0
[6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F4%2F10&x=0&y=0
[6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F6%2F05&x=0&y=0
[6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F6%2F05&x=0&y=0
[6/5/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F6%2F05&x=0&y=0
[6/5/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/5/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/5/15]
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Friday, June 12, 2015
Economic update for the week of June 8th, 2015
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