Tuesday, July 31, 2012

Economic Update for the week of July 30th, 2012


WEEKLY ECONOMIC UPDATE


WEEKLY QUOTE
        
“Don't be intimidated by what you don't know. That can be your greatest strength and ensure that you do things differently from everyone else.”
    
- Sara Blakely
  

WEEKLY TIP
         
Each day brings breaking news; beware of abruptly altering your long-range financial strategy in response.

  
WEEKLY RIDDLE
    
You have been hired by an eccentric farmer, who requests that you build four pens for his nine sheep, but only allow an odd number of sheep in each pen. How do you accomplish this? 
 
Last week’s riddle:
I nearly always lie on a surface, and I come in different shapes and sizes, often with curves. You can put me anywhere you like, yet there is only one proper place for me. What am I?
  
Last week’s answer:
A jigsaw puzzle piece.


July 30, 2012
    
CONSUMERS ARE STILL A BIT CYNICAL 
The good news is that the University of Michigan’s final July index of consumer sentiment improved from its 72.0 preliminary reading to a final mark of 72.3. Still, that represents a 2012 monthly low for the gauge, which had finished June at 73.2.1
   
NEW & PENDING HOME SALES dECLINE
In year-over-year terms, things look sunny: new home sales were up 15.1% in June compared with June 2011 and pending home sales were 9.5% improved from a year before. June reports from the Census Bureau and National Association of Realtors were respectively gloomy, however: new home sales dropped an alarming 8.4% after two months of gains, and contracts to purchase existing homes decreased by 1.4%.2,3
     
GDP LOOKS WEAK; HARD GOODS ORDERS SURPRISE
The federal government’s second estimate of Q2 GDP (+1.5%) represents the tamest growth since Q3 2011. June’s durable goods orders beat forecasts, registering a 1.6% increase (economists polled by Briefing.com had predicted a gain of 0.3%).1,4,5
   
DOW LOGS BEST 3 DAYS OF THE YEAR
How could that happen with such negative indicators? Two words: renewed hope. Thursday, European Central Bank president Mario Draghi said the ECB would do whatever is needed to save the euro; Friday, Draghi was reportedly talking with Germany’s central bank about coordinated sovereign debt purchases. So the Dow (+1.97% to 13,075.66), NASDAQ (+1.12% to 2,958.09) and S&P 500 (+1.71% to 1,385.97) all did well last week. COMEX gold rose 2.22% last week to end Friday at $1,618.00; oil settled at $90.13 Friday, as prices slipped 1.85% across five days.1,4,6
   
THIS WEEK: Monday, earnings from Anadarko and HSBC are in. Tuesday, June consumer spending data and May’s Case-Shiller Home Price Index arrive along with Q2 results from Aetna, Pfizer, Deutsche Bank, Goodyear, DreamWorks, BP, Honda, UBS, Valero and Electronic Arts. Markets will watch Washington on Wednesday as a Federal Reserve policy meeting ends; July’s ISM manufacturing index, July auto sales figures and earnings from MasterCard, Yelp, Time Warner, Burger King, Marathon Oil, Hartford Financial, Green Mountain Coffee, Comcast, MetLife and Prudential Financial also appear. Will the ECB make a move when its policy meeting concludes Thursday? Stateside, that day brings the latest initial jobless claims, data on June factory orders and Q2 results from Clorox, GM, Kraft, AIG, Sony, Activision Blizzard, LinkedIn, Sunoco and Kellogg. Friday, the June jobs report and ISM’s June service sector index appear; Q2 results come in from Beazer, Viacom, Toyota, NYSE Euronext, Procter & Gamble and Berkshire Hathaway.
  
% CHANGE
Y-T-D
1-YR CHG
5-YR AVG
10-YR AVG
DJIA
+7.02
+6.28
-0.29
+5.82
NASDAQ
+13.55
+6.99
+3.09
+13.44
S&P 500
+10.21
+6.21
-1.00
+6.25
REAL YIELD
7/27 RATE
1 YR AGO
5 YRS AGO
10 YRS AGO
10 YR TIPS
-0.61%
0.56%
2.48%
3.10%
 

Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 7/27/124,7,8,9
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly.
These returns do not include dividends.


Please feel free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address.
We will contact them first and request their permission to add them to our list.


«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=51f8caab-e29b-4584-b079-effc8020cb48 [7/27/12]
2 - www.cnbc.com/id/48335711 [7/26/12]
3 - www.cbsnews.com/8301-505145_162-57480113/new-home-sales-drop-but-up-for-the-year/ [7/27/12]
4 - money.msn.com/market-news/post.aspx?post=ed48f96d-7a7c-4319-8c50-47ce5224d6c8 [7/27/12]
5 - briefing.com/investor/calendars/economic/2012/07/23-27 [7/27/12]
6 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F27%2F11&x=0&y=0 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F27%2F11&x=0&y=0 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F27%2F11&x=0&y=0 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F27%2F07&x=0&y=0 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F27%2F07&x=0&y=0 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F27%2F07&x=0&y=0 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F26%2F02&x=0&y=0 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F26%2F02&x=0&y=0 [7/27/12]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F26%2F02&x=0&y=0 [7/27/12]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [7/27/12]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [7/27/12]
9 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf [7/10/02]

Tuesday, July 24, 2012

Economic Update for the week of July 23rd, 2012


WEEKLY ECONOMIC UPDATE


WEEKLY QUOTE
        
“Live out of your imagination, not your history.”
    
- Stephen R. Covey
  

WEEKLY TIP
         
If you are serious about buying a home, getting pre-approved by a lender can give you a better chance of making a serious offer.

  
WEEKLY RIDDLE
    
I nearly always lie on a surface, and I come in different shapes and sizes, often with curves. You can put me anywhere you like, yet there is only one proper place for me. What am I?
 
 
Last week’s riddle:
Note this alphabetic progression: B, C, D, E, G. What letter should then follow as the sixth letter in this successive series?
  
Last week’s answer:
P (the next letter in the alphabet with the same rhyming sound).


July 23, 2012
    
NO ADVANCE IN CONSUMER PRICES
The federal government’s Consumer Price Index was flat in June, though the core CPI (minus food and energy prices) did rise 0.2%. Statistically, this was exactly what economists surveyed by MarketWatch had expected. Annualized inflation was running at 3.9% back in September; it was just 1.7% in both May and June.1
   
HOUSING INDICATORS REGISTER HIGHS & LOWS
According to the Commerce Department, housing starts were up 6.9% for June to the highest level since October 2008. The average interest rate on the 30-year FRM fell to a new record low of 3.53% in Freddie Mac’s July 19 survey, as did the average rate on the 15-year FRM (2.83%). Existing home sales, however, slipped badly in June – the National Association of Realtors said the sales volume slowed 5.4% to a pace unseen in nine months. Sales were still 4.5% improved from a year before.2
     
RETAIL SALES SLIP 0.5% in JUNE
They have now declined for three straight months, and a retreat of that length hasn’t been recorded by the Commerce Department since July-December 2008. Analysts polled by Bloomberg News had forecast an increase of at least 0.2%.3
   
STOCKS SLIP FRIDAY BUT GAIN FOR THE WEEK
Spain’s projection of recession into 2013 sent European shares down about 1% on Friday, with yields on Spanish bonds topping 7%. The Dow fell 121 points on the day, but on the week it rose 0.36% to close at 12,822.57 Friday. The NASDAQ (+0.58% to 2,925.30) and S&P 500 (+0.43% to 1,362.66) also posted five-day gains. After a 4.98% weekly gain, NYMEX crude settled Friday at $91.44 per barrel.4,5
   
THIS WEEK: Earnings season is in full swing, with McDonalds, Hasbro, Baidu, Halliburton and Texas Instruments offering results Monday. Tuesday, Q2 results are in from Apple, Broadcom, DuPont, UPS, Aflac and AT&T. Wednesday, the Census Bureau publishes June new home sales data and Ford, ConocoPhillips, Symantec, PepsiCo, Bristol-Myers, GlaxoSmithKline, Western Digital, Boeing, Caterpillar, VISA, WholeFoods and Zynga issue earnings reports. On Thursday, new initial claims figures are in along with the latest pending home sales report from the NAR and data on hard goods orders in June; earnings arrive from ExxonMobil, 3M, Pulte, Sprint, Expedia, Amazon.com, Starbucks, Amgen, Facebook, Dow Chemical, AstraZeneca and Credit Suisse, and a Commodity Futures Trading Commission emergency meeting will be held in response to the PFGBest scandal. Friday brings the final University of Michigan consumer sentiment survey for July, the second estimate of Q2 GDP and earnings from Barclays, Merck, DR Horton and Chevron.
  
% CHANGE
Y-T-D
1-YR CHG
5-YR AVG
10-YR AVG
DJIA
+4.95
+1.99
-1.49
+5.99
NASDAQ
+12.29
+3.95
+1.77
+12.18
S&P 500
+8.35
+2.78
-2.24
+6.07
REAL YIELD
7/20 RATE
1 YR AGO
5 YRS AGO
10 YRS AGO
10 YR TIPS
-0.67%
0.62%
2.60%
3.10%
 

Sources: money.msn.com, bigcharts.com, treasury.gov, treasurydirect.gov - 7/20/124,6,7,8
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly.
These returns do not include dividends.


Please feel free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address.
We will contact them first and request their permission to add them to our list.


«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.marketwatch.com/story/us-consumer-prices-unchanged-in-june-2012-07-17-81035025 [7/17/12]
2 - minnesota.publicradio.org/display/web/2012/07/19/business/housing-stats/ [7/19/12]
3 - www.sfgate.com/business/bloomberg/article/Retail-Sales-Drop-Unexpectedly-on-Weak-U-S-Job-3710443.php [7/16/12]
4 - money.msn.com/market-news/post.aspx?post=ed48f96d-7a7c-4319-8c50-47ce5224d6c8 [7/20/12]
5 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F20%2F11&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F20%2F11&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F20%2F11&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F20%2F07&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F20%2F07&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F20%2F07&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F19%2F02&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F19%2F02&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F19%2F02&x=0&y=0 [7/20/12]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [7/20/12]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [7/20/12]
8 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf [7/10/02]



Tuesday, July 17, 2012

Economic Update for the week of July 16th, 2012


WEEKLY ECONOMIC UPDATE


WEEKLY QUOTE
        
“People often say that motivation doesn’t last. Well, neither does bathing – that’s why we recommend it daily.”
    
- Zig Ziglar
  

WEEKLY TIP
         
As you retire, look at the changes in your expenses. Will your mortgage soon be paid off? What business-related expenses will disappear, and what new expenses will emerge? This may matter greatly in your retirement planning.

  
WEEKLY RIDDLE
    
Note this alphabetic progression: B, C, D, E, G. What letter should then follow as the sixth letter in this successive series?
 
 
Last week’s riddle:
I may be red, green or yellow. Eat me, and you may stay a healthy fellow. My interior is white; I don’t give off light. What am I?
  
Last week’s answer:
An apple.


July 16, 2012
    
CONSUMER SENTIMENT CONTINUES TO SLIP
Analysts polled by Reuters had expected the University of Michigan’s initial July consumer sentiment index to show a minor gain. That didn’t happen: instead of the projected 0.2% rise to 73.4, the index fell 1.2% to 72.0, a low unseen since December. An exclamation point within the data: just 19% of Americans polled felt that their financial situation would improve within the next year, a record low for the survey. The barometer of current economic conditions did improve to 83.2 from 81.5.1
   
PRODUCER PRICES RISE 0.1% in JUNE
Given the 0.9% decline in energy prices last month, this overall gain in the Producer Price Index was surprising. The cost of gasoline increased 1.9% last month and food prices climbed as well, influencing the advance. Core PPI rose 0.2% in June.1
    
OIL, GOLD & RETAIL GAS PRICES MOVE NORTH
Pump prices increased 0.9% last week, according to AAA’s Daily Fuel Gauge Report; they are up 1.0% so far for the month. NYMEX crude gained 3.14% last week to settle Friday at $87.10 a barrel; gold advanced 0.86% on the COMEX for the week, with those futures settling Friday at $1,592.50 per ounce.2
   
DOW CLIMBS 200 POINTS ON FRIDAY THE 13TH
Why? China’s latest annualized GDP estimate (+7.6%) was not as bad as forecasters expected, and Q2 results from JPMorgan and Wells Fargo were encouraging, even as Moody’s cut Italy’s credit rating Friday to two notches above junk level. After its 204-point Friday gain, the DJIA settled at 12,777.09. The NASDAQ ended Friday at 2,908.47, while the S&P 500 closed at 1,356.77. Across the week, the Dow went +0.04%, the S&P +0.15% and the NASDAQ -0.98%.2,3,4
   
THIS WEEK: Monday, Census Bureau data on June retail sales arrives plus Q2 results from Citigroup, Charles Schwab and Gannett. Tuesday, the June CPI and June industrial output data appear, Ben Bernanke starts two days of testimony in Congress, and earnings reports emerge from Yahoo!, Intel, Coca-Cola, Goldman Sachs, Johnson & Johnson and Mattel. On Wednesday, a new Fed Beige Book is out, June housing starts and building permits figures arrive and we have earnings from Bank of America, U.S. Bancorp, American Express, PNC Bank, Honeywell, Qualcomm, Yum! Brands and eBay. Thursday, NAR offers June existing home sales data, new initial claims numbers appear and Q2 results arrive from Philip Morris, Microsoft, Morgan Stanley, Novartis, SanDisk, Capital One, Nokia, Travelers, Verizon, BB&T, Google, AMD, Chipotle, E*Trade and Southwest Airlines. Friday, we have IPOs from Kayak and Fender and Q2 earnings from GE and Xerox.
  
% CHANGE
Y-T-D
1-YR CHG
5-YR AVG
10-YR AVG
DJIA
+4.58
+2.29
-1.63
+4.71
NASDAQ
+11.64
+3.99
+1.49
+11.18
S&P 500
+7.89
+2.96
-2.52
+4.73
REAL YIELD
7/13 RATE
1 YR AGO
5 YRS AGO
10 YRS AGO
10 YR TIPS
-0.59%
0.59%
2.73%
3.10%
 

Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 7/13/123,5,6,7
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly.
These returns do not include dividends.


Please feel free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address.
We will contact them first and request their permission to add them to our list.


«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.reuters.com/article/2012/07/13/usa-economy-idUSL2E8ID23U20120713 [7/13/12]
2 - money.msn.com/market-news/post.aspx?post=96140b67-efa5-49c8-9ffc-85cd17eaea41 [7/13/12]
3 - www.cnbc.com/id/48174616 [7/13/12]
4 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F13%2F11&x=0&y=0 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F13%2F11&x=0&y=0 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F13%2F11&x=0&y=0 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F13%2F07&x=0&y=0 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F13%2F07&x=0&y=0 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F13%2F07&x=0&y=0 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F12%2F02&x=0&y=0 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F12%2F02&x=0&y=0 [7/13/12]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F12%2F02&x=0&y=0 [7/13/12]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [7/13/12]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [7/13/12]
7 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf [7/10/02]