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WEEKLY QUOTE
“The foolish man seeks
happiness in the distance, the wise man grows it under his feet.”
- James
Oppenheim
WEEKLY TIP
In your fifties, make
sure to check up on your retirement goals. Does it appear you have viable
financial paths to achieve them? Test out different financial scenarios (with
professional input) to see if your retirement strategy may need adjusting.
WEEKLY RIDDLE
I descend softly, fade
away gently, change the color of the ground, but I never go up the way I come
down. What am I?
Last week’s riddle:
It is a word
in the English language, written using only two letters of the alphabet. You can
say this word merely by using one letter of the alphabet, and that letter is a
vowel. What word is this?
Last week’s answer:
Eye.
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May 31,
2016
TWO HOUSING
INDICATORS HIT MULTIYEAR HIGHS
While monthly real
estate indicators are often later revised, the latest numbers for new home
buying and pending home sales are impressive, indeed. The Census Bureau reported
a 16.6% jump in new home sales in April, putting them at an 8-year peak. Housing
contract activity surged 5.1% last month, according to the National Association
of Realtors, reaching a level unseen since February 2006. The Wall Street
Journal had forecast just an 0.7% April gain for the NAR’s pending home
sales index.1
Q1 GDP REVISED
UP; DURABLE GOODS ORDERS UP 3.4%
How much did the economy
grow in the first quarter? In the second estimate of the Bureau of Economic
Analysis, 0.8%. (The BEA originally estimated 0.5% growth.) Minus transportation
orders, the Department of Commerce still found hard goods orders advancing 0.4%
in April.2
HOUSEHOLD
SENTIMENT INDEX RISES IN MAY
The University of
Michigan’s consumer sentiment index lost 1.1 points from its preliminary May
reading to post a final May mark of 94.7. Still, that was far better than its
final April reading of 89.0.2,3
BULLS RUN
FREELY
Federal Reserve Chair
Janet Yellen’s Friday remark that an interest rate hike could be appropriate in
the coming months took very little momentum out of the market last week. From
May 23-27, the Dow rose 2.13% to 17,873.22; the S&P 500, 2.28% to 2,099.06;
and the Nasdaq, 3.44% to 4,933.50 (the Nasdaq had its best week in more than
three months). Oil ended the trading week at $49.33; gold, at
$1,216.70.3
THIS
WEEK: Monday is
Memorial Day, so U.S. financial markets will be closed. Tuesday offers the April
personal spending report, the April core PCE price index, the March
S&P/Case-Shiller home price index, and earnings from TiVo. On Wednesday, the
latest manufacturing PMIs from China and the European Union appear, plus the May
manufacturing PMI from the Institute for Supply Management and a new Beige Book
from the Federal Reserve; earnings news will come from Cracker Barrel, Land’s
End, and Michael Kors. Earnings from Broadcom, Five Below, Hovnanian, and
Navistar are out Thursday, plus a new initial claims report. In addition to the
Department of Labor’s May employment report, Friday also presents the May ISM
service sector PMI, the May factory orders report and earnings from Sears
Hometown.
Sources: wsj.com, bigcharts.com, treasury.gov - 5/27/164,5,6,7
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 -
constructiondive.com/news/pending-home-sales-wallop-expectations-climb-to-10-year-high/419905/
[5/26/16]
2 -
investing.com/economic-calendar/ [5/27/16]
3 -
cnbc.com/2016/05/27/us-markets.html [5/27/16]
4 -
markets.wsj.com/us [5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F27%2F15&x=0&y=0
[5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F27%2F15&x=0&y=0
[5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F27%2F15&x=0&y=0
[5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F27%2F11&x=0&y=0
[5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F27%2F11&x=0&y=0
[5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F27%2F11&x=0&y=0
[5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F26%2F06&x=0&y=0
[5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F26%2F06&x=0&y=0
[5/27/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F26%2F06&x=0&y=0
[5/27/16]
6 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[5/27/16]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[5/27/16]
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Tuesday, May 31, 2016
Economic update for the week of May 31st, 2016
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