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WEEKLY QUOTE
“People
need to be reminded more often than they need to be instructed.”
- Samuel Johnson
WEEKLY TIP
Did
you just get a raise or a promotion? Beware of lifestyle creep – the tendency
to spend more when you make more. Be sure to direct appropriate amounts of
your increased income into savings and investments.
WEEKLY RIDDLE
Take
three letters, arrange them one way, and you have a word for “conflict.”
Arrange them another way, and you have a word for “uncooked.” What are the
three letters?
Last week’s riddle:
I walk and run on all fours, and I laugh while stalking my prey,
but I seldom go in for the kill. What animal am I?
Last week’s answer:
A hyena.
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September 20,
2017
INFLATION SPIKED
IN AUGUST
Economists had long assumed consumer prices would rise abruptly
at some point, and they certainly did last month. The Consumer Price Index increased
0.4% in August, its biggest one-month advance since its 0.6% gain in January.
Higher gas prices were a major influence: they rose 6.3% for August. Core inflation
was up 0.2% after four straight 0.1% monthly gains. Yearly consumer inflation
is now at 1.9%. Wholesale inflation, as measured by the Producer Price Index,
rose 0.2% in August to an annualized pace of 2.4%.1,2
RETAIL SALES
STAGE A LATE-SUMMER RETREAT
Americans cut back on retail purchases during August.
Retail sales declined 0.2%, a disappointment after the 0.3% July gain. The
silver lining: the core number, minus gasoline and auto buying, rose 0.2%.2
CONSUMER
SENTIMENT INDEX DIPS SLIGHTLY
The University of Michigan’s twice-monthly barometer of the
American consumer’s mood fell 1.5 points in its initial September edition. At
a mark of 95.3, the index was still 4.5% above where it was a year earlier.
While the index’s current conditions component hit its highest level in
nearly 17 years, 9% of survey respondents believed that Hurricanes Irma and
Harvey had hurt the overall economy.3
A MILESTONE
FOR THE S&P 500
Recording its highest close ever, the broad equities
benchmark settled at 2,500.23 Friday, capping off a 5-day gain of 1.58% and
attaining its third round-number highpoint of 2017. The Nasdaq Composite
advanced 1.39% for the week to 6,448.47. Setting the pace for the big three,
the Dow Jones Industrial Average added 2.16% last week to close Friday at
22,268.34. The Russell 2000 had an even better week, rising 2.31% to
1,431.71; the CBOE VIX again neared historic lows, dropping 16.09% in five days
to 10.17.4,5
THIS WEEK: On Monday, Steelcase shares quarterly
results. Earnings calls Tuesday include announcements from Adobe Systems,
AutoZone, Bed Bath & Beyond, and FedEx, and investors will also look at
the Census Bureau’s August report on new residential construction. Wednesday,
the Federal Reserve could reveal plans for unwinding its balance sheet as it wraps
up a monetary policy meeting; Wall Street will also consider August existing
home sales numbers and Q3 results from General Mills. A new initial unemployment
claims report arrives Thursday. CarMax and Finish Line present earnings
Friday.
Sources: wsj.com, bigcharts.com, treasury.gov - 9/15/175,6,7,8
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. The information herein has been
derived from sources believed to be accurate. Please note - investing
involves risk, and past performance is no guarantee of future results.
Investments will fluctuate and when redeemed may be worth more or less than
when originally invested. 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 market indices discussed are unmanaged and
are not illustrative of any particular investment. Indices do not incur
management fees, costs and expenses, and cannot be invested into directly.
All economic and performance data is historical and not indicative of future
results. The Dow Jones Industrial Average is a price-weighted index of 30
actively traded blue-chip stocks. The NASDAQ Composite Index is a
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 a market-cap weighted index
composed of the common stocks of 500 leading companies in leading industries
of the U.S. economy. 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. MarketingPro, Inc. is not
affiliated with any person or firm that may be providing this information to
you. 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 - cnbc.com/2017/09/14/us-consumer-price-index-aug-2017.html [9/14/17]
2 - investing.com/economic-calendar/
[9/15/17]
3 - sca.isr.umich.edu/
[9/15/17]
4 - bloomberg.com/news/articles/2017-09-15/u-s-stocks-reach-another-milestone-as-s-p-500-vaults-past-2-500
[9/15/17]
5 - markets.wsj.com/us
[9/15/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F15%2F16&x=0&y=0
[9/15/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F15%2F16&x=0&y=0
[9/15/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F15%2F16&x=0&y=0
[9/15/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F14%2F12&x=0&y=0
[9/15/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F14%2F12&x=0&y=0
[9/15/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F14%2F12&x=0&y=0
[9/15/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F14%2F07&x=0&y=0
[9/15/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F14%2F07&x=0&y=0
[9/15/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F14%2F07&x=0&y=0
[9/15/17]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[9/15/17]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[9/15/17]
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Wednesday, September 20, 2017
Economic Update for the week of September 20th, 2017
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