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WEEKLY QUOTE
“Too
much rest is rust.”
- Sir Walter Scott
WEEKLY TIP
Small
business owners applying for home loans should know that if they own 25% or
more of the voting stock of a corporation, they are technically classified as
self-employed. They will need to provide the lender with a corporate tax
return.
WEEKLY RIDDLE
What
time of day can be written the same way forwards or backwards?
Last week’s riddle:
A Saab travels along an avenue at 50mph, a Subaru at 30mph. The
Subaru passes by the Saab, without speeding up to do so. How is this
possible?
Last week’s answer:
They are traveling in opposite
directions.
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October 25,
2017
SEPTEMBER SAW
SLIGHTLY MORE HOME BUYING
Existing home sales advanced 0.7% last month, according to
a National Association of Realtors report. This gain broke a 3-month streak
of retreats. Single-family home sales rose 1.1%. Housing inventory increased
1.6% last month, but it was still 6.4% under year-ago levels.1
GROUNDBREAKING
FALLS TO A 12-MONTH LOW
Housing starts slumped 4.7% in September, the Census
Bureau reported last week. Building permits also declined, decreasing 4.5%.
Fall hurricanes may have slowed construction activity, but investment in
homebuilding was also down 7.3% year-over-year during the second quarter.2
DOW SURGES
ABOVE 23,000; GOLD DROPS
Across last week, the Dow Industrials climbed 2.00% to 23,328.63. The
Nasdaq Composite advanced 0.35% to 6,629.05, while the S&P 500 gained 0.86%
to 2,575.21. Gold had its worst week in a month, slipping 1.9% to a Friday
COMEX settlement of $1,280.50.3,4
THIS WEEK: Monday’s earnings parade includes news
from Halliburton, Hasbro, Kimberly-Clark, Lennox International, Logitech,
Seagate, and VF Corporation. Tuesday, earnings arrive from 3M, Akamai, Ameriprise
Financial, AT&T, Biogen, Canon, Capital One, Caterpillar, Chipotle,
Corning, Discover Financial Services, Express Scripts, Fiat Chrysler, Fifth
Third, General Motors, Infosys, JetBlue, Eli Lilly, Lockheed Martin,
McDonalds, Novartis, Pentair, Regions Financial, Ryder Systems,
Sherwin-Williams, Stanley Black & Decker, and TD Ameritrade. September
new home sales numbers appear Wednesday, plus earnings from Aflac, Alaska
Air, Ally Financial, Amgen, Anthem, Avery Dennison, Boeing, Coca-Cola,
Freeport-McMoRan, GlaxoSmithKline, W.R. Grace, Ingersoll Rand, Norfolk
Southern, Northrop Grumman, O’Reilly, Penske, Public Storage, Sirius XM, Six
Flags, SkyWest Airlines, Suncor, Visa, and Walgreens Boots Alliance. Thursday’s
earnings include Alphabet, Altria, Amazon, American Airlines, Anheuser-Busch,
Baidu, Bayer, Bristol-Myers, Celgene, Chubb, Conoco-Phillips, Dunkin’ Brands,
Ford Motor Co., Gilead Sciences, The Hartford, HealthSouth, Hershey, Hilton
Worldwide, IMAX, Intel, Marathon Petroleum, Mattel, Microsoft, Nokia,
Pinnacle Foods, Praxair, Raytheon, Stryker, Twitter, Union Pacific, UPS,
Valero Energy, Waste Management, and Xerox; September pending home sales and new
initial claims figures also emerge. The first estimate of Q3 GDP and the
month’s final University of Michigan consumer sentiment index surface Friday,
plus earnings from Chevron, Colgate-Palmolive, Exxon Mobil, Goodyear,
Huntsman, Merck, Phillips 66, Rockwell Collins, and Weyerhaeuser.
Sources: wsj.com, bigcharts.com, treasury.gov - 10/20/174,5,6,7
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. 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 - 247wallst.com/housing/2017/10/20/september-existing-home-sales-inventory-post-first-gains-in-4-months/
[10/20/17]
2 - reuters.com/article/us-usa-economy-housingstarts/u-s-housing-starts-hit-one-year-low-building-permits-tumble-idUSKBN1CN1QS
[10/20/17]
3 - markets.wsj.com/us
[10/20/17]
4 - marketwatch.com/story/gold-drops-to-2-week-low-as-dollar-gains-strength-on-tax-reform-hopes-2017-10-20/
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F20%2F16&x=0&y=0
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F20%2F16&x=0&y=0
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F20%2F16&x=0&y=0
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F19%2F12&x=0&y=0
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F19%2F12&x=0&y=0
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F19%2F12&x=0&y=0
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F19%2F07&x=0&y=0
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F19%2F07&x=0&y=0
[10/20/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F19%2F07&x=0&y=0
[10/20/17]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[10/20/17]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[10/20/17]
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Wednesday, October 25, 2017
Economic Update for the week of October 25th, 2017
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