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WEEKLY QUOTE
“A
pessimist sees the difficulty in every opportunity; an optimist sees the
opportunity in every difficulty.”
- Winston Churchill
WEEKLY TIP
If
you are a caregiver, you recognize the role long term care insurance can play
in funding the care of a loved one. If you are considering it for yourself,
you should know that it is most affordable when you are in your fifties.
WEEKLY RIDDLE
It
is a short and simple word, and something that everyone needs. Put an 'r' on
the end and you have a new friend, but if the first letter goes away, you are
sad. What is this word?
Last week’s riddle:
What word doesn’t belong in this group: blast, paper, castle, coin, box, storm.
Last week’s answer:
The
word that doesn’t belong is “coin” – you can put “sand” in front of all of the
other words and end up with a new word.
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March 19,
2012
PRICES Rise
Most In TEN MONTHS
Consumer
prices were up 0.4% in February according to the Commerce Department, yet
core inflation rose only 0.1%. A 6% jump in gasoline prices represented 80%
of the Consumer Price Index’s biggest gain since April, while food prices were
flat for the first time since July 2010. Economists polled by Bloomberg
expected a 0.5% rise in CPI for the month. Producer prices also rose 0.4%
last month, but prices for finished products were up but 0.1%. Annualized
inflation was at 2.9% in February; annualized core CPI was at 2.2%.1,2
AN
ILLUMINATING STATESIDE STRESS TEST
Applying a hypothetical “doomsday” scenario of the Dow losing half of its value, joblessness at 13% and home prices at 1996 levels, the Federal Reserve put 19 major U.S. banks through its annual stress test last week and found that 15 passed: American Express, Bank of America, Bank of New York Mellon, BB&T, CapitalOne, Fifth Third, Goldman Sachs, JP Morgan Chase, Keycorp, Morgan Stanley, PNC, Regions, State Street, U.S. Bancorp and Wells Fargo. Four lenders did not pass – the Fed concluded that Citigroup, SunTrust, Ally and MetLife would lose enough assets under the stress test scenario to pose systemic risk.3
CONSUMERS BUY
MORE, SHOW LESS CONFIDENCE
The Census Bureau noted a 1.1% rise in retail sales for February and revised the January gain north to 0.6%. Elsewhere, the initial University of Michigan consumer sentiment survey for March showed a slight dip to 74.3 from 75.3 in late February.4,5
BEST WEEK FOR U.S. EQUITIES SINCE
DECEMBER
The
NASDAQ? It went +2.24% on the week to settle Friday at 3,055.26. The Dow? Up
2.40% in five days to end the week at 13,232.62. The S&P 500? +2.43% to
1,404.17 at Friday’s close. More good news: the CBOE VIX settled below 15
Friday after touching a 5-year low. Crude oil was down 0.32% for the week to
$107.06, gold down 3.25% last week to $1,655.80.2,6
THIS WEEK: Monday, Adobe
Systems issues Q4 results. Tuesday, February housing starts figures
complement earnings from Tiffany, Krispy Kreme, Oracle and Cintas, and Fed
chairman Ben Bernanke speaks at George Washington University. Wednesday,
existing home sales figures are out for February as well as Q4 earnings from
General Mills and Discover Financial. Thursday brings around round of initial
claims, the Conference Board’s February leading indicators index and earnings
from Nike, FedEx, Dollar General, Accenture and GameStop. Friday, we get data
on February new home sales plus earnings from Darden Restaurants and KB Home.
Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 3/16/126,7,8,9
Indices are unmanaged, do not
incur fees or expenses, and cannot be invested into directly.
These returns do not include
dividends.
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«RepresentativeDisclosure»
This material was prepared by MarketingLibrary.Net
Inc., and does not necessarily represent the views of the presenting party,
nor their affiliates. Marketing Library.Net Inc. is not affiliated with any
broker or brokerage firm that may be providing this information to you. 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. 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. All information is believed to be from
reliable sources; however we make no representation as to its completeness or
accuracy. 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 - www.usatoday.com/money/economy/story/2012-03-16/February-inflation-consumer-price-index/53561880/1
[3/16/12]
2 - money.msn.com/market-news/post.aspx?post=7b65a645-53f2-4b26-8b37-7c9c88448197
[3/16/12]
3 - www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/03/16/investopedia77515.DTL
[3/16/12]
4 - www.census.gov/retail/marts/www/marts_current.pdf
[3/13/12]
5 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29
[3/16/12]
6 - www.cnbc.com/id/46758651
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F16%2F11&x=0&y=0
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F16%2F11&x=0&y=0
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F16%2F11&x=0&y=0
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F16%2F07&x=0&y=0
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F16%2F07&x=0&y=0
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F16%2F07&x=0&y=0
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F15%2F02&x=0&y=0
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F15%2F02&x=0&y=0
[3/16/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F15%2F02&x=0&y=0
[3/16/12]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/16/12]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/16/12]
9 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm10902.pdf
[1/9/02]
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Tuesday, March 20, 2012
Economic Update for the week of March 19th, 2012
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