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WEEKLY QUOTE
“Let
him who would enjoy a good future waste none of his present.”
- Roger Babson
WEEKLY TIP
What’s
more important for a young couple: an emergency fund, or saving for a down
payment on a home? The emergency fund gets the nod if your finances allow you
to save toward only one of these two financial objectives.
WEEKLY RIDDLE
Rigid is my spine, my innards are mostly pale, yet I am
always ready to tell a tale. What am I?
Last week’s riddle:
What should the next number be in this series: 103, 107, 109,
113, 127 ...
Last week’s answer:
131, as the whole series is made up
of prime numbers.
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May 27,
2013
APRIL DATA AFFIRMS HOUSING REBOUND
Last month brought a 2.3% gain in new home sales and an
0.6% increase in existing home sales. Distressed properties (short sales and
foreclosures) represented only 18% of residential resales in April, the
National Association of Realtors noted; compare that with 28% of sales in
April 2012. NAR also announced that the median existing home price was
$192,800 in April, 11.0% higher than a year ago. The pace of new home buying
has improved 29.0% in the past 12 months, according to the Census Bureau.1,2
FED MINUTES DISCLOSE THOUGHTS OF
TAPERING QE3
The
May 1 Federal Open Market Committee minutes were released last Wednesday,
shortly after Federal Reserve chairman Ben Bernanke mentioned the need to
sustain the central bank’s current stimulus effort in Congress. The minutes,
however, noted that “a number” of Fed officials were open to scaling down QE3
as soon as June if economic indicators sufficiently improved. Concern and
confusion about these mixed messages put more volatility into the markets and
factored into a 3-day losing streak for the S&P 500.3
DURABLE GOODS ORDERS UP 3.3% IN APRIL
This
contrasts with March’s 5.9% decrease. With transportation orders factored
out, the April increase was still 1.3%. Census Bureau reports have noted
improvements in hard goods orders in two of the past three months, even with
the sequester.4
RUSSELL 2000 REACHES A MILESTONE
While
the small-cap benchmark fell 1.20% last week, it also made history on May 20:
it attained the 1,000 level for the first time. The RUT settled Friday at
984.28. The S&P 500 (-1.07% to 1,649.61), DJIA (-0.33% to 15,303.10) and
NASDAQ (-1.14% to 3,459.14) all slipped last week.4,5,6,7
THIS WEEK: U.S.
financial markets are closed Monday in observance of Memorial Day. Tuesday
sees the release of the March S&P/Case-Shiller Home Price Index, the
Conference Board’s May consumer confidence survey and earnings from Tiffany
& Co. and Wet Seal. DSW and Chico’s announce Q1 results on Wednesday. In
addition to new initial jobless claims figures, Thursday offers NAR’s report
on April pending home sales, the federal government’s second estimate of Q1
GDP, and earnings from Krispy Kreme, BigLots! and Costco. Friday, the Commerce
Department issues its report on April personal spending and the University of
Michigan’s final May consumer sentiment survey arrives.
Sources: usatoday.com, thestreet.com, bigcharts.com, treasury.gov - 5/24/134,7,8,9,10
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 -
csmonitor.com/Business/new-economy/2013/0523/New-home-sales-rise-but-market-still-a-long-way-from-normal
[5/23/13]
2 - realtor.org/news-releases/2013/05/april-existing-home-sales-up-but-constrained
[5/22/13]
3 - reuters.com/article/2013/05/22/markets-usa-stocks-idUSL2N0E321R20130522
[5/22/13]
4 - thestreet.com/story/11933260/1/sp-poised-for-three-day-losing-streak-amid-qe-wind-down-chatter.html
[5/24/13]
5 - marketwatch.com/story/russell-2000-index-breaks-above-1000-2013-05-20
[5/20/13]
6 - blogs.barrons.com/stockstowatchtoday/2013/05/24/dow-ekes-out-friday-gain-down-for-the-week/
[5/24/13]
7 - usatoday.idmanagedsolutions.com/stocks/overview.idms?index=SP500
[5/24/13]
8 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F24%2F12&x=0&y=0
[5/24/13]
8 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F24%2F12&x=0&y=0
[5/24/13]
8 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F24%2F12&x=0&y=0
[5/24/13]
8 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F23%2F08&x=0&y=0
[5/24/13]
8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F23%2F08&x=0&y=0
[5/24/13]
8 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F23%2F08&x=0&y=0
[5/24/13]
8 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F23%2F03&x=0&y=0
[5/24/13]
8 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F23%2F03&x=0&y=0
[5/24/13]
8 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F23%2F03&x=0&y=0
[5/24/13]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[5/24/13]
10 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[5/24/13]
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Thursday, May 30, 2013
Economic Update for the week of May 27th, 2013
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