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WEEKLY QUOTE
“Your
life does not get better by chance, it gets better by change.”
- Jim Rohn
WEEKLY TIP
New
parents should check to see if they qualify for child tax credits and other
family tax benefits for tax years 2012 and 2013.
WEEKLY RIDDLE
Two
men played five games of chess in the park. They both won the same number of
games, yet none of the games they played ended in a draw. So how could this
be?
Last week’s riddle:
What five-letter word becomes shorter when you add two letters to
it?
Last week’s answer:
Short.
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February 11,
2013
A SOLID EARNINGS SEASON
By
Friday, nearly 70%of the firms in the S&P 500 had announced quarterly
results – and so far, so good. Thomson Reuters data shows that 66% of these
companies have beaten revenue projections, and nearly 70% have surpassed
earnings forecasts compared to 65% over the previous four quarters. As it
stands now, if the rest of the S&P’s components report quarterly results
in line with estimates, Q4 earnings for S&P 500 companies will grow 5.2%.
Thomson Reuters had projected a 1.9% rise.1,2
ISM SERVICES REPORT SHOWS SUSTAINED
GROWTH
The U.S. service sector expanded at a marginally slower pace
in January, according to the Institute for Supply Management’s
non-manufacturing index. The January reading of 55.2 wasn’t much removed from
the December reading of 55.7, and indicated steadiness in non-manufacturing
activity.3
OBAMA ASKS CONGRESS TO POSTPONE BUDGET
CUTS
Last
week, the President asked Capitol Hill lawmakers to “pass a smaller package
of spending cuts and tax reforms that would delay the economically damaging effects
of the sequester for a few more months.” Some analysts think Democrats will push
to end tax breaks for energy firms in an effort to generate more revenue and stave
off deeper cuts planned for March 1. Senate Minority Leader Mitch McConnell
(R-KY) commented that “raising taxes on private jets or energy companies”
amounted to “gimmicks” in lieu of “real solutions” to reducing the deficit.4
NASDAQ SETTLES AT 12-YEAR PEAK
The
tech-heavy index closed at 3,193.87 Friday, up 0.46% across five trading days.
The S&P 500 gained 0.31% last week, settling Friday at 1,517.93. Yet the
week was mixed, with the Dow pulling back 0.12% to close at 13,992.97 Friday. On the COMEX, oil ended the week at
$96.40, gold at $1,668.80. Gas prices averaged $3.57 a gallon on Friday in
AAA’s survey; that was nearly a four-month peak.2,5,6
THIS WEEK: Monday
brings earnings from Lionsgate, and Tuesday brings quarterly results from
Barclay’s, Buffalo Wild Wings, McGraw-Hill, Coca-Cola, Avon Products, Michael
Kors and Clearwire. The Commerce Department presents reports on January
retail sales and December business inventories Wednesday, and earnings
reports are in from MetLife, Cisco, Comcast, Deere, Dean Foods and Applied
Materials. Quarterly results from CBS, General Motors, PepsiCo and Rio Tinto
arrive Thursday, plus the latest initial jobless claims figures. February’s
initial University of Michigan consumer sentiment survey comes out Friday, along
with data on January industrial production and earnings from Campbell Soup.
Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 2/8/122,7,8,9
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.reuters.com/article/2013/02/08/markets-usa-stocks-idUSL1N0B87T820130208
[2/8/13]
2 - www.cnbc.com/id/100446078 [2/8/13]
3 - www.nytimes.com/2013/02/06/business/economy/ism-reports-slower-growth-at-services-companies.html
[2/6/13]
4 -
www.latimes.com/news/politics/la-pn-obama-sequester-cuts-congress-20130205,0,885371.story
[2/5/13]
5 - www.bloomberg.com/news/2013-02-08/heating-oil-climbs-as-natural-gas-advances-commodities-at-close.html
[2/8/13]
6 - montoyaregistry.com/Financial-Market.aspx?financial-market=retirement-investment-funds&category=3
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F8%2F12&x=0&y=0
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F8%2F12&x=0&y=0
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F8%2F12&x=0&y=0
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F8%2F08&x=0&y=0
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F8%2F08&x=0&y=0
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F8%2F08&x=0&y=0
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F7%2F03&x=0&y=0
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F7%2F03&x=0&y=0
[2/8/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F7%2F03&x=0&y=0
[2/8/13]
8 - www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldYear&year=2013
[2/8/13]
8 - www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/8/13]
9 - treasurydirect.gov/instit/annceresult/press/preanre/2003/ofm010803.pdf
[1/8/03]
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Tuesday, February 12, 2013
Economic Update for the week of February 11th, 2013
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