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WEEKLY QUOTE
“Always
laugh when you can. It is cheap medicine.”
- Lord Byron
WEEKLY TIP
While
no one likes to think about their funeral, preplanned or prepaid funeral
arrangements may be a financially smart move and may relieve your heirs of
some stress when the time comes.
WEEKLY RIDDLE
I can’t be captured or held, and I certainly am not seen
... yet I can occasionally be heard, and I am often all around you. What am
I?
Last week’s riddle:
I protect you. I sit on a bridge. You can see through me. People
walking by might wonder what I hide. What am I?
Last week’s answer:
A pair of sunglasses.
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May 13,
2013
HOW IS THIS EARNINGS SEASON TURNING OUT?
At the closing bell on May 10, 90% of S&P 500 firms
had reported quarterly results. According to Reuters, 67% of them have surpassed
earnings forecasts and 24% have fallen short of projections. Should the
remaining 50 components report results matching estimates, earnings will be
up 5.3% on last year. Sales gains are another story: just 46% of companies
reporting so far have beaten their revenue forecasts.1,2
FED RAMPS UP ITS FINANCIAL SCRUTINY
Federal
Reserve chairman Ben Bernanke said Friday that the central bank was now
keeping close tabs on the “shadow banking” sector that bred the toxic assets associated
with the last credit crisis. At the Chicago Fed’s banking conference, he noted
that “careful monitoring for signs of emerging vulnerabilities” constituted
“probably our best defense against complacency during extended periods of
calm”. In widening its oversight, the Fed is also watching asset markets,
consumers and businesses for signs of systemic risk in addition to banks.3
OIL MOVES HIGHER, GOLD LOSES GROUND
COMEX
gold retreated 1.76% last week, and that was mirrored by silver’s 1.25%
weekly loss; the dollar gained 1.25% across five days. NYMEX crude rose 0.45%
for the week. At Friday’s close, oil settled at $96.04 and gold at $1,443.30.4
ANOTHER WEEK OF GAINS, MORE ALL-TIME
HIGHS
The
Dow went +0.97% last week to close at 15,118.49 Friday – a record high. The S&P
500 gained 1.19% last week to settle at another all-time peak of 1,633.70
Friday. After a 1.72% weekly gain, the NASDAQ ended Friday’s trading session
at 3,436.58.1
THIS WEEK: The
Commerce Department issues its April retail sales report Monday, and
Anglogold Ashanti and Take Two Interactive announce Q1 results. Nothing major
is scheduled for Tuesday. Wednesday, the April PPI comes out plus the May
NAHB housing index and data on April industrial output; earnings from Macy's,
Cisco and Deere & Co. also appear. Thursday, April’s CPI arrives along
with the latest initial claims figures, data on April housing starts and
building permits, and a wave of earnings mostly from major retailers (Kohl's,
Wal-Mart, Nordstrom, JCPenney, Autodesk, Marvell Tech and Applied Materials).
Friday brings the preliminary May consumer sentiment index from the
University of Michigan and the Conference Board’s April leading indicators
index.
Sources: cnbc.com, bigcharts.com, treasury.gov - 5/10/131,5,6,7
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. This material
represents an assessment of the market environment at a specific point in
time and is not intended to be a forecast of future events, or a guarantee of
future results. Past performance is no guarantee of future results. Investments will fluctuate and when
redeemed may be worth more or less than when originally invested. 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 - cnbc.com/id/100727118 [5/10/13]
2 - chicagotribune.com/business/sns-rt-us-usa-earnings-trendbre9490np-20130510,0,1017540.story
[5/10/13]
3 - suntimes.com/business/20022861-420/bernanke-fed-increasing-financial-monitoring.html
[5/10/13]
4 - news.goldseek.com/GoldSeeker/1368217251.php
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F10%2F12&x=0&y=0
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F10%2F12&x=0&y=0
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F10%2F12&x=0&y=0
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F9%2F08&x=0&y=0
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F9%2F08&x=0&y=0
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F9%2F08&x=0&y=0
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F9%2F03&x=0&y=0
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F9%2F03&x=0&y=0
[5/10/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F9%2F03&x=0&y=0
[5/10/13]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[5/10/13]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[5/10/13]
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Tuesday, May 14, 2013
Economic Update for the week of May 13th, 2013
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