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WEEKLY QUOTE
“It’s
not what happens to you that determines how far you will go in life; it is
how you handle what happens to you.”
- Zig Ziglar
WEEKLY TIP
If
you want to leave your company on your terms, make sure you leave enough time
to carry out your exit strategy effectively. Think five years at minimum.
WEEKLY RIDDLE
Liz
went into a convenience store at 1:58am on a Sunday morning to get a coffee. She
drove six miles away and then returned to the store to get a lotto ticket ...
also at 1:58am. The store’s clock was working perfectly, so how could it be
1:58am again when she returned?
Last week’s riddle:
Ray slipped off of a 30-foot escalator and landed on a sidewalk.
He was embarrassed, yet uninjured. How could this be?
Last week’s answer:
He
slipped off the escalator's bottom step.
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December 3,
2012
SPENDING DOWN, CONFIDENCE & GDP UP
Personal
spending decreased 0.2% in October, the first monthly retreat since June,
possibly attributable to Superstorm Sandy. (Consumer spending dipped 0.3%
when adjusted for inflation.) Personal income was flat in October for the
first time since April. Even so, November’s Conference Board index of
consumer confidence measured 73.7, a 57-month high. The Bureau of Economic
Analysis revised Q3 GDP up to 2.7%, although federal spending and restocking
of goods were the major factors in the quarter’s improved output.1,2
ANOTHER ROUND OF POSITIVE HOUSING NEWS
New
home sales have increased 17.2% in the last 12 months, even with a 0.3%
retreat in October. In addition to that news from the Census Bureau, the latest
edition of the S&P/Case-Shiller Home Price Index showed home values in
the third quarter rising 3.6% from Q3 2011. The National Association of
Realtors reported a 5.2% jump in its pending home sales index in October,
which at 104.8 reached its highest point since March 2007.3,4,5
BUSINESSES
KEEP PURCHASING AS CLIFF NEARS
Durable
goods orders were flat in October, but they rose 1.5% minus transportation
orders. Increasing orders for electrical components (+4.1%), computers
(+0.9%) and machinery (+2.9%) showed confidence on the part of companies.6
NEGOTIATIONS STALL, BUT STOCKS ADVANCE
Even
with very little progress in the fiscal cliff talks in Washington, the
S&P 500 managed a 0.50% gain last week to reach 1,416.25 at the closing
bell on Friday. The NASDAQ (+1.46% to 3,010.24) and Dow (+0.12% to 13,025.04)
also advanced last week. The NASDAQ and S&P respectively gained 1.11% and
0.29% in November; the DJIA, on the other hand, slipped 0.55% on the month. Gold
closed Friday at $1,710.90; oil settled Friday at $88.91.7,8,9
THIS WEEK: ISM’s
November manufacturing index appears Monday, along with Commerce Department
data on November auto sales and Q3 results from Pep Boys. Tuesday brings
earnings from Pandora, Toll Bros., BigLots! and AutoZone. Wednesday, ISM’s
November service sector index is out plus data on October factory orders and
earnings from Men’s Wearhouse. Thursday, the latest weekly jobless claims
numbers arrive and the European Central Bank and Bank of England make policy
announcements; earnings reports are in from Smithfield Foods, Lululemon and H&R
Block. Friday, the November jobs report arrives; so does the preliminary
December consumer sentiment index from the University of Michigan.
Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 11/30/127,10,11,12
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.foxbusiness.com/economy/2012/11/30/consumer-spending-makes-unexpected-fall-in-october/
[11/30/12]
2 - www.reuters.com/article/2012/11/27/us-usa-economy-instant-idUSBRE8AQ0SP20121127
[11/27/12]
3 -
www.latimes.com/business/la-fi-mo-new-home-sales-20121128,0,3039964.story
[11/28/12]
4 -
blogs.wsj.com/economics/2012/11/27/price-rise-shows-a-better-balanced-u-s-housing-market/
[11/27/12]
5 - www.philly.com/philly/business/20121130_Pending_home_sales_in_Oct__hit_nearly_6-year_high.html
[11/30/12]
6 - news.investors.com/economy/112712-634800-fiscal-cliff-fears-dont-sink-durable-goods-confidence.htm
[11/27/12]
7 - www.cnbc.com/id/50025105
[11/30/12]
8 - online.wsj.com/article/BT-CO-20121130-711977.html
[11/30/12]
9 - montoyaregistry.com/Financial-Market.aspx?financial-market=retirement-investment-funds&category=3
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F30%2F11&x=0&y=0
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F30%2F11&x=0&y=0
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F30%2F11&x=0&y=0
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F30%2F07&x=0&y=0
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F30%2F07&x=0&y=0
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F30%2F07&x=0&y=0
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F29%2F02&x=0&y=0
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F29%2F02&x=0&y=0
[11/30/12]
10 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F29%2F02&x=0&y=0
[11/30/12]
11 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/30/12]
11 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/30/12]
12 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf
[7/10/02]
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Tuesday, December 4, 2012
Economic Update for Dec. 3, 2012
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