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WEEKLY QUOTE
“It is every man's obligation to put back into the world
at least the equivalent of what he takes out of it.”
- Albert
Einstein
WEEKLY TIP
Succession planning isn’t just about an orderly ownership
transition. It is also about tax efficiency. Waiting too long can mean paying
more in insurance premiums, fees and taxes.
WEEKLY RIDDLE
You need to take a gallon of oil out of a barrel of oil.
How can you do it using only a 3-gallon container and a 5-gallon container?
Last week’s 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 answer:
Love.
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March 26, 2012
HOUSING MARKET
COOLS DOWN IN February
Nationally, home sales took a step back last month. Last
week, the National Association of Realtors reported a 0.9% drop in residential
resales in February. The federal government subsequently announced a 1.6%
slip in new home purchases last month, although new home prices rose by over 8.0%.
The year-over-year numbers are better: existing home sales have jumped 8.8%
in the last 12 months, and new home sales have picked up by 11.4%. Housing
starts were down 1.1% in February from January’s 4-year high, but building
permits were up 5.1% for the month.1,2
INITIAL CLAIMS
HIT A NEW 4-YEAR LOW
According to the Labor Department, claims fell by 5,000 to a seasonally adjusted 348,000 for the week ending March 17. This is the smallest amount since March 2008.3
LEADING
INDICATORS MOVE NORTH AGAIN
The Conference Board’s monthly index rose 0.7% for February, with reduced jobless claims and the interest rate spread exerting the most influence. Eight of the index’s ten indicators were up for the month.3
BULLS PRESS PAUSE BUTTON
Stocks pulled back for the week as anxieties over subpar
foreign manufacturing indices inspired some profit-taking. A new concern
surfaced Friday: Reuters said Iran’s oil exports had dropped 14% this month. The
S&P 500 retreated 0.50% last week to 1,397.11 Friday. The DJIA lost 1.15%
on the week to settle Friday at 13,080.73, while the NASDAQ advanced 0.41% in
five days to wrap up Friday at 3,067.92. Gold ended the week at $1,662.40 an
ounce, oil at $106.87 a barrel. Unleaded gasoline averaged $3.89 a gallon
nationally in AAA’s newest price survey.4,5
THIS WEEK: Plenty of crucial data appears.
On Monday, the National Association of Realtors tells us about February’s
pending home sales, and Fed chairman Ben Bernanke speaks about the labor
market at NABE’s annual conference. Tuesday, we get the January
S&P/Case-Shiller Home Price Index, the Conference Board’s March consumer
confidence poll and Q4 results from Lennar and Walgreens. Wednesday, February
durable goods orders figures come out plus earnings from Family Dollar and
Texas Industries. Thursday offers the government’s final take on Q4 GDP and earnings
from Best Buy and Research in Motion. On Friday, February consumer spending
data arrives plus the final University of Michigan consumer sentiment survey
for March.
Sources: msn.money.com, bigcharts.com, treasury.gov, treasurydirect.gov - 3/23/124,6,7,8
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
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the world's largest physical commodity futures exchange and the preeminent
trading forum for energy and precious metals, with trading conducted through
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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.washingtonpost.com/business/economy/new-home-sales-fell-in-february-but-prices-rose/2012/03/23/gIQA92X8VS_story.html
[3/23/12]
2 - business.time.com/2012/03/20/us-builders-start-fewer-homes-but-permits-jump/
[3/20/12]
3 - www.nasdaq.com/article/us-jobless-claims-fall-in-week-indicators-rise-20120322-01286
[3/22/12]
4 - money.msn.com/market-news/post.aspx?post=c38964a6-60ee-42a2-8b4e-cd45ed26f39d
[3/23/12]
5 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F23%2F11&x=0&y=0
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F23%2F11&x=0&y=0
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F23%2F11&x=0&y=0
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F23%2F07&x=0&y=0
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F23%2F07&x=0&y=0
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F23%2F07&x=0&y=0
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F22%2F02&x=0&y=0
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F22%2F02&x=0&y=0
[3/23/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F22%2F02&x=0&y=0
[3/23/12]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/23/12]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/23/12]
8 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm10902.pdf
[1/9/02]
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