|
|||||||||||||||||||||||||||||||
|
WEEKLY QUOTE
“Whatever
you fear most has no power - it is your fear that has the power.”
- Oprah Winfrey
WEEKLY TIP
If
you and your child are visiting some prospective colleges this summer, ask if
you can chat with someone in their financial aid offices. The contacts you
make (and the notes you take) could prove important for the future.
WEEKLY RIDDLE
What
has no arms, legs or form, yet goes up without ever coming down?
Last week’s riddle:
Constantly hungry, I must always be fed – and any finger I touch
will soon turn red. What am I?
Last week’s answer:
Fire.
|
July 7,
2015
WALL STREET HANGS ON AS GREECE DEFAULTS
When Greece revealed it would miss its July 1 debt payment
to the International Monetary Fund last Tuesday, the Dow lost 2% for the day
while the CBOE VIX gained more than 35%. (To add to the drama, the commonwealth
of Puerto Rico stated that its debts were “not payable” on the same day.) Any
further bailout of Greece may hinge on its July 5 national popular vote, in
which Greeks will decide whether or not to stay in the euro. Stocks did
rebound mildly, resulting in the following weekly performances for the major
indices: DJIA, -1.22% t0 17,730.11; NASDAQ, -1.90% to 5,009.21; S&P 500,
-1.29% to 2,076.78.1,2,5
ANOTHER SOLID JOBS REPORT, WITH AN
ASTERISK
Employers
added 223,000 more jobs in June, Labor Department data revealed Friday. The
headline jobless rate fell to 5.3% and the U-6 rate measuring “total”
unemployment declined to 10.5%, but that was partly due to the labor force
participation rate hitting a 38-year low of 62.6.3
FACTORIES WERE A BIT BUSIER IN JUNE
So
indicated the Institute for Supply Management’s newest manufacturing
purchasing manager index. ISM’s factory PMI rose 0.7 points in May to a mark of 53.5, another
indication of an economy picking up momentum in spring.4
KEY CONFIDENCE
BAROMETER RISES
The Conference Board’s consumer confidence index beat
expectations by topping the century mark in June. It rose 6.8 points from its
(revised) May level to 101.4.4
NAR, CASE-SHILLER INDICES DISAPPOINT
Last week’s real estate indicators were a touch
underwhelming. Analysts polled by Briefing.com thought April’s 20-city
Case-Shiller home price index would show a 5.6% overall yearly gain; instead,
the 12-month improvement was 4.9%. The National Association of Realtors said
its pending home sales index rose 0.9% in May; the consensus in the same poll
was for a 1.4% increase.4
THIS WEEK: Monday,
Wall Street will react to the Greek bailout referendum and consider ISM’s
June non-manufacturing PMI. Nothing major is slated for Tuesday. Wednesday,
the June Federal Reserve policy meeting minutes arrive and Alcoa releases Q2
results to kick off the new earnings season. On Thursday, the Street looks at
new initial claims figures plus earnings from PepsiCo, Barracuda Networks and
PriceSmart. Friday, Fed chair Janet Yellen speaks on the U.S. economic
outlook in Cleveland; also, a Census Bureau report on May’s wholesale
inventories appears.
Sources: wsj.com, bigcharts.com, treasury.gov - 7/2/155,6,7,8
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.
|
||||||||||||||||||||||||||||||
|
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 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 -
cbsnews.com/news/rising-grexit-risk-is-beating-down-stocks/ [6/30/15]
2 - thestreet.com/story/13207489/1/stocks-close-lower-ahead-of-greek-vote-on-bailout.html
[7/2/15]
3 - tinyurl.com/nquvoqy [7/2/15]
4 - briefing.com/investor/calendars/economic/2015/06/29-03 [7/2/15]
5 - markets.wsj.com/us [7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F2%2F14&x=0&y=0
[7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F2%2F14&x=0&y=0
[7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F2%2F14&x=0&y=0
[7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F2%2F10&x=0&y=0
[7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F2%2F10&x=0&y=0
[7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F2%2F10&x=0&y=0
[7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F1%2F05&x=0&y=0
[7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F1%2F05&x=0&y=0
[7/2/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F1%2F05&x=0&y=0
[7/2/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[7/2/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[7/2/15]
|
|||||||||||||||||||||||||||||||
Tuesday, July 7, 2015
Economic Update for the week of July 7th, 2015
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment