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WEEKLY QUOTE
“Remember
that there is nothing stable in human affairs; therefore avoid undue elation
in prosperity, or undue depression in adversity.”
- Socrates
WEEKLY TIP
Ideally,
a college student should have just one credit card with a reasonable interest
rate, a good rewards program, and no annual fee.
WEEKLY RIDDLE
What
force and strength cannot get through, it with gentle touch can do. People in
many halls would stand were it not in their hand. What is it?
Last week’s riddle:
I am a port city in Canada, a state in southeast Australia, a big
lake in Africa, and a renowned queen. What is my name?
Last week’s answer:
Victoria.
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Sept. 3rd,
2015
STOCKS
CORRECT, THEN REBOUND
After the record 1,000-point plunge the Dow Jones
Industrial Average took Monday morning, all three major U.S. benchmarks ended
up falling below correction levels – but then an impressive recovery began. Bargain-hunters,
an interest rate cut by China’s central bank, and a surge in gasoline and oil
prices helped turn things around, and the big three all managed weekly gains.
The S&P 500 rose 0.89% for the week to 1,988.87, the Nasdaq advanced
0.32% to 4,828.33, and the Dow added 1.10% to reach 16,643.01. WTI crude had
its best week since 2009, climbing 11.8% to a NYMEX close of $45.22 Friday.1,2
GOOD NEWS FROM MAIN STREET
Personal
spending improved 0.3% in July, matching the June increase. Commerce
Department data also showed personal incomes rising 0.4% for a fourth
straight month. The Conference Board’s consumer confidence index jumped 10.5
points to a 101.5 reading for August; the University of Michigan’s final
August consumer sentiment index declined just a point from its initial
reading to 91.9.2,3
ASSORTED GAINS IN THE HOUSING SECTOR
New
home buying increased 5.4% in July, the Commerce Department stated last week;
the median new home price was up 2.0% year-over-year. Existing home prices
(as measured by the 20-city S&P/Case-Shiller home price index) were up
5.0% annually through June. The National Association of Realtors noted a 0.5%
rise for its pending home sales index in July, taking its annual advance to
7.4%.4,5
Q2 GROWTH REVISED TO 3.7%
The BEA’s second estimate of Q2 GDP was 1.4% higher than
its first, reflecting reassessments of government and personal spending,
business investment and inventories. Orders for capital goods also surprised
to the upside last week: they rose 2.0% overall in July, 0.6% minus
transportation orders.3,5
THIS WEEK: On Monday,
China releases its official factory and service sector PMIs for August. ISM
issues its August manufacturing PMI on Tuesday, which is also when Bob Evans,
Dollar Tree, and H&R Block report earnings. On Wednesday, Wall Street
looks at ADP’s August employment change report, July factory orders data, a
new Federal Reserve Beige Book, and Q2 results from Five Below and Navistar. Thursday,
ISM’s August service sector PMI and the latest Challenger job cuts report
accompany new initial claims figures and earnings from Campbell Soup, Lands’
End, and VeriFone. The August Labor Department jobs report arrives Friday.
Sources: wsj.com, bigcharts.com, treasury.gov - 8/28/156,7,8,9
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 - reuters.com/article/2015/08/28/us-markets-global-idUSKCN0QX01U20150828
[8/28/15]
2 - thestreet.com/story/13270473/1/stocks-end-frantic-week-with-only-modest-gains.html
[8/28/15]
3 - briefing.com/investor/calendars/economic/2015/08/24-28
[8/28/15]
4 - usatoday.com/story/money/business/2015/08/25/new-home-sales-july/32295169/
[8/25/15]
5 - news.morningstar.com/articlenet/article.aspx?id=713100 [8/27/15]
6 - markets.wsj.com/us [8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F28%2F14&x=0&y=0
[8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F28%2F14&x=0&y=0
[8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F28%2F14&x=0&y=0
[8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F27%2F10&x=0&y=0
[8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F27%2F10&x=0&y=0
[8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F27%2F10&x=0&y=0
[8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F29%2F05&x=0&y=0
[8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F29%2F05&x=0&y=0
[8/28/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F29%2F05&x=0&y=0
[8/28/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[8/28/15]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[8/28/15]
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Thursday, September 3, 2015
Economic Update for the week of September 3rd, 2015
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