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WEEKLY QUOTE
“Silent
gratitude isn’t very much use to anyone.”
- Gertrude Stein
WEEKLY TIP
Business
owners can risk neglecting their retirement planning as they get caught up in
the daily activity of their companies. Be sure to look into a SEP IRA, SIMPLE
IRA, Solo 401(k), or other retirement plans if you are growing a small
business.
WEEKLY RIDDLE
You
have three coins that add up to $0.31. Two of them are not quarters. What
kind of coins do you have?
Last week’s riddle:
It inhibits sight, makes the air colder, and it will come back
for you before the day is done. What is it?
Last week’s answer:
Night.
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June 27,
2018
TARIFF TALK
INTENSIFIES
Major economic powers proposed additional import taxes
last week, as investors wondered if a global trade war was now underway.
Monday evening, President Trump stated that he had instructed U.S. Trade
Representative Robert Lighthizer to identify another $200 billion of Chinese
products to subject to a new 10% import duty. Shortly before the
trading week began, the European Union proclaimed it would place import taxes
on $3.3 billion of U.S. products, in retaliation to recently imposed metals
tariffs. Friday, President Trump mulled imposing a 20% tax on autos arriving
from the E.U. unless it lifts such import duties.1,2
EXISTING HOME
SALES WEAKEN SLIGHTLY
A National Association of Realtors report says that sales
tapered off 0.4% in May. While the inventory of homes listed grew 2.8% in the
fifth month of the year, the median price of an existing home hit an all-time
peak of $264,800. The sales pace was 3.0% slower than in May 2017.3
HOUSING STARTS
RISE, BUT PERMITS FALL
While home sales were nearly flat last month, groundbreaking
increased 5.0% according to the Census Bureau. Its latest report on U.S.
residential construction also noted a 4.6% drop in building permits, far
exceeding the decline seen in April.4
BLUE CHIPS
SHED 2%
To be precise, the Dow Jones Industrial Average lost 2.03%
last week, sinking to 24,580.89 at Friday’s close even with a 119-point
Friday gain. Faring better, the Nasdaq Composite retreated 0.69% to 7,692.82
in the same time frame, while the S&P 500 declined 0.89% to 2,754.88.5
THIS WEEK: Investors react to May new home sales data
and Q2 earnings from Carnival on Monday. The Conference Board’s June consumer
confidence index appears Tuesday, along with the latest S&P CoreLogic
Case-Shiller home price index and earnings from Lennar and Sonic. On
Wednesday, Wall Street considers the NAR’s May index of housing contract
activity, May durable goods orders, and earnings from Bed Bath & Beyond,
General Mills, Paychex, and Rite Aid. Thursday, the third estimate of Q1
economic growth arrives, along with the latest initial claims figures and earnings
announcements from Accenture, ConAgra Brands, KB Home, Nike, and Walgreens
Boots Alliance. May personal spending data, the May PCE price index, and the
final June University of Michigan consumer sentiment index emerge Friday, plus
earnings from Constellation Brands.
Sources: wsj.com, bigcharts.com, treasury.gov - 6/22/185,6,7,8
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 - npr.org/2018/06/18/621227483/trump-asks-for-200-billion-more-in-tariffs-to-impose-on-china
[6/18/18]
2 - fortune.com/2018/06/22/trump-tariffs-european-cars/
[6/22/18]
3 - briefing.com/Investor/Calendars/Economic/Releases/exist.htm
[6/22/18]
4 - investing.com/economic-calendar/
[6/19/18]
5 - markets.wsj.com/us
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F22%2F17&x=0&y=0
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F22%2F17&x=0&y=0
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F22%2F17&x=0&y=0
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F21%2F13&x=0&y=0
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F21%2F13&x=0&y=0
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F21%2F13&x=0&y=0
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F23%2F08&x=0&y=0
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F23%2F08&x=0&y=0
[6/22/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F23%2F08&x=0&y=0
[6/22/18]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/22/18]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/22/18]
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Wednesday, June 27, 2018
Economic Update for the week of June 27th, 2018
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