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WEEKLY QUOTE
“If
you spend too much time thinking about a thing, you’ll never get it done.”
- Bruce Lee
WEEKLY TIP
While
scholarships are offered to students, no one offers a scholarship for
retirement. Put your own retirement planning before any college planning (or
risk moving in with your kids someday).
WEEKLY RIDDLE
It
can be told and made, and cracked and played – and yet, it is only spoken.
What is it?
Last week’s riddle:
I can’t walk, but at times I run and I am very difficult to hide.
I am always with you. What am I?
Last week’s answer:
Your
nose.
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June 25,
2012
WALL STREET FINDS THE POSITIVE IN THE
NEGATIVE
Moody’s
Investors Service downgraded 15 major banks late last week, yet financial
stocks rallied Friday – Wall Street was bracing for deeper cuts. Investors
also liked a new accord in Europe – Germany joined France, Italy and Spain in
support of a €130 billion stimulus plan to help EU economies in the face of coming
austerity cuts. It could be approved at this week’s EU summit. Even with last
Thursday’s Dow dive of more than 250 points, the DJIA is up about 2% for
June.1
EXISTING HOME
SALES FALL 1.5% in MAY
In
the view of the National Association of Realtors, a lack of cheap inventory
was behind the downturn. The sales pace in May was still 9.6% better than a
year ago with the median price up 7.9% year-over-year to $182,600, a 2-year
high. May housing starts fell to 708,000, down from April’s 744,000; building
permits rose to 780,000 in May compared to April’s 723,000.2,3
LEADING
INDICATORS BOUNCE BACK
The Conference Board’s June index of leading economic indicators rose 0.3% to 95.8, inching closer to the initial “normal” score of 100.0 that it was established with in 2004. The LEI was up 0.2% in March and down 0.1% in April.4
A VOLATILE WEEK TAKES DOW DOWN 1%
The
DJIA lost 0.99%, to be precise; Friday, it settled at 12,640.78. The S&P
500 lost 0.58% for the week, closing Friday at 1,335.02. The NASDAQ pulled
off a 0.68% weekly gain to get to 2,892.42. Oil dove 5.08% last week on the
NYMEX to $79.76 a barrel; gold retreated 3.76% on the COMEX to $1,566.90 an
ounce. Gas prices also fell slightly: AAA’s survey fell to $3.45 a gallon last
week.1,5
THIS WEEK: A Supreme
Court ruling on the Obama administration’s health care reforms could come as
early as today ... or later this week. Monday will bring the May new home sales
report. Tuesday, the April Case-Shiller Home Price Index and the Conference
Board’s June consumer confidence survey appear plus earnings from H&R
Block and CKE Restaurants. Earnings from Monsanto, Lennar and General Mills
complement Wednesday’s releases on May durable goods orders and May pending
home sales. Thursday, EU leaders meet for another summit on the debt crisis;
also, the final read on Q1 GDP comes out along with new weekly jobless claims
figures and earnings from Accenture, RiM, Family Dollar and Nike. Friday, May
consumer spending data and June’s final University of Michigan consumer
sentiment survey arrive plus earnings from KB Home and Constellation Brands.
Sources: money.msn.com, bigcharts.com, treasury.gov, treasurydirect.gov - 6/22/121,6,7,8
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 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 - money.msn.com/market-news/post.aspx?post=95f998bd-6fbe-4de1-9b51-8cb1f437973a
[6/22/12]
2 - articles.marketwatch.com/2012-06-21/economy/32343033_1_median-prices-prices-surge-home-sales
[6/21/12]
3 - briefing.com/investor/calendars/economic/2012/06/18-22 [6/22/12]
4 - www.conference-board.org/data/bcicountry.cfm?cid=1
[6/21/12]
5 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F22%2F11&x=0&y=0
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F22%2F11&x=0&y=0
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F22%2F11&x=0&y=0
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F22%2F07&x=0&y=0
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F22%2F07&x=0&y=0
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F22%2F07&x=0&y=0
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F21%2F02&x=0&y=0
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F21%2F02&x=0&y=0
[6/22/12]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F21%2F02&x=0&y=0
[6/22/12]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/22/12]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/22/12]
8 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm10902.pdf
[1/9/02]
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Tuesday, June 26, 2012
Economic Update for the week of June 25th, 2012
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