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WEEKLY QUOTE
“Laughter
is the closest distance between two people.”
- Victor Borge
WEEKLY TIP
Some
people moonlight for extra income, but getting that second job may just be a
response to uncontrolled spending. Added income will not correct that problem;
it may even encourage it.
WEEKLY RIDDLE
Switch
one letter each from the words “plus” and “minus” to the other word, and you
have two entirely new words. What are they?
Last week’s riddle:
When you lack me, you feel a sort of gloom. When you use me, it
is time you consume. What am I?
Last week’s answer:
Sleep.
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February 16,
2016
OIL JUMPS 12%,
BUT STOCKS RETREAT FOR THE WEEK
On Friday, WTI crude closed at a NYMEX price of $29.44
after a 12.32% surge. However, it fell 4.69% on the week, and major U.S.
stock benchmarks fell as well. Across five days, the Dow Jones Industrial
Average declined 1.43% to 15,973.84; the Nasdaq Composite, 0.58% to 4,337.51;
and the S&P 500, 1.95% to 1,864.78. Gold closed Friday at $1,239.00 on
the COMEX, capping its best week since 2008 and its first four-week win
streak since last April.1,2
BETTER NEWS
ABOUT RETAIL SALES
Commerce Department data showed retail purchases
increasing 0.2% last month, with impressive 0.6% growth for core retail sales
(a category excluding auto, home improvement, and restaurant purchases). The
0.1% pullback in headline retail sales in December was revised to a 0.2%
advance.3
A HINT OF CONSUMER PESSIMISM
The
University of Michigan’s initial February consumer sentiment index displayed
a 90.7 reading compared to 92.0 at the end of January. Its future expectations
component fell 1.7 points to a 6-month low, a major reason for the decline.3
MORTGAGE RATES REACH 10-MONTH LOW
On February 11, Freddie Mac’s Primary Mortgage Market
Survey showed the average interest rate on a 30-year home loan at 3.65%, moving
lower for the sixth straight week. The recent rush to Treasuries by investors
has helped keep rates low. Last week, the average interest for the 15-year
fixed rate home loan was 2.95%.4
THIS WEEK: Monday is
Presidents Day, so U.S. financial markets will be closed. On Tuesday,
Cheesecake Factory, Dean Foods, Express Scripts, Fossil Group, Hormel, Kaiser
Aluminum, and Public Storage announce earnings. Minutes from the January
Federal Reserve policy meeting arrive Wednesday, along with the January PPI,
reports on January housing starts, building permits and industrial output,
and earnings from Denny’s, Domino’s, Dr. Pepper Snapple, Gannett, Jack in the
Box, Garmin, La-Z-Boy, Marathon Oil, Marriott, Newmont Mining, Noble Energy,
Nvidia, NetApp, Priceline, Progressive, and T-Mobile. Thursday, new initial
claims figures arrive along with earnings from America's Car-Mart, Applied
Materials, Cabela’s, BJ’s Restaurants, Boise-Cascade, Choice Hotels, DISH
Network, Duke Energy, Fluor, Hyatt Hotels, MGM Resorts, Six Flags
Entertainment, Novatel Wireless, Nordstrom, Starwood Hotels & Resorts,
Virgin America, and Wal-Mart. The January CPI will be out Friday, along with
quarterly results from Deere & Co.
Sources: wsj.com, bigcharts.com, treasury.gov - 2/12/162,5,6,7
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 - foxbusiness.com/markets/2016/02/12/wall-street-surges-but-caps-week-in-red.html
[2/12/16]
2 - markets.wsj.com/us [2/12/16]
3 - investors.com/news/economy/retail-sales-looked-stronger-in-january-as-consumer-stays-solid/
[2/12/16]
4 - usatoday.com/story/money/personalfinance/2016/02/11/mortgage-rates-housing-freddie-mac/80231032/
[2/11/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F12%2F15&x=0&y=0
[2/12/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F12%2F15&x=0&y=0
[2/12/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F12%2F15&x=0&y=0
[2/12/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F11%2F11&x=0&y=0
[2/12/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F11%2F11&x=0&y=0
[2/12/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F11%2F11&x=0&y=0
[2/12/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F13%2F06&x=0&y=0
[2/12/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F13%2F06&x=0&y=0
[2/12/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F13%2F06&x=0&y=0
[2/12/16]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[2/12/16]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/12/16]
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Tuesday, February 16, 2016
Economic Update for the week of February 16th, 2016
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