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WEEKLY QUOTE
“Everything
you can imagine is real.”
- Pablo Picasso
WEEKLY TIP
Retiring
in the near future? A monthly retirement budget is a good idea – and so is a
current budget that establishes a schedule for paying down debts and reducing
costs before you enter into a new phase of life.
WEEKLY 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 riddle:
How can you name three consecutive days without mentioning the
words Monday, Tuesday, Wednesday, Thursday, Friday, Saturday or Sunday?
Last week’s answer:
Yesterday, today and tomorrow.
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May 6, 2013
UNEMPLOYMENT EDGES DOWN TO 7.5%
April brought a rebound in hiring. Employers added 165,000
jobs, and
so the unemployment rate reached a four-year low. (The Labor
Department also revised March’s job gains upward to 138,000.) Payrolls have
now expanded by an average of 189,000 jobs a month during the last six
months.1
CONSUMER SPENDING, OUTLOOK IMPROVE
Household
spending increased 0.2% in March, the Commerce Department noted – part of a
broader 3.2% advance for the first quarter. The Conference Board’s April
consumer confidence index soared 6.2 points to 69.1, far exceeding the 61.0
consensus forecast of economists polled by Bloomberg.2
STRONG SIGNALS OF A HOUSING COMEBACK
Home
equity is definitely being restored: the latest 20-city S&P/Case-Shiller
Home Price Index (February) shows a 9.3% year-over-year increase, the largest
annual gain recorded in six years. The National Association of Realtors
reported a 1.5% March gain in its pending home sales index, with the yearly
gain at 7.0%.2,3
IS MANUFACTURING COOLING DOWN?
The
Institute for Supply Management’s April factory index came in at 50.7 last
week, the weakest reading in nine months and down from 0.6 from March. ISM’s
April service sector index also declined 1.3 points off the March reading of 53.1.4
S&P TOPS 1,600, FED REASSURES INVESTORS
Last
week brought major gains for the Dow (+1.78% to 14,973.96), S&P 500 (+2.03%
to 1,614.42) and NASDAQ (+3.03% to 3,378.63). On May 1, the Federal Reserve said
it would keep buying $85 billion in bonds per month for the near future,
noting that the pace of asset purchases could even increase if needed.5
THIS WEEK: Tyson
Foods, Sysco, Anadarko and First Solar report quarterly results Monday. Tuesday,
the market awaits earnings from WholeFoods, Walt Disney, Trip Advisor, HSBC,
DirecTV, Electronic Arts, Marathon Oil, Symantec, Live Nation, WebMD and
Zillow. Wednesday, earnings are in from Liberty Interactive, Green Mountain
Coffee, Activision Blizzard, AOL, Sodastream, Wendy's, Toyota, Liberty Media,
Groupon, Monster Beverage, NewsCorp, Tesla Motors and Transocean. Thursday
brings a report on March wholesale inventories, the latest initial jobless
claims figures, and quarterly results from Sony, Nvidia, Dish Network,
Priceline.com and Dean Foods. On Friday, Fed chairman Ben Bernanke speaks at a
Chicago banking conference and ArcelorMittal and GoldFields announce
earnings.
Sources: cnbc.com, bigcharts.com, treasury.gov - 5/3/135,6,7,8
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 - bloomberg.com/news/2013-05-03/payrolls-in-u-s-rise-165-000-as-unemployment-drops-to-7-5-.html
[5/3/13]
2 - bloomberg.com/news/2013-04-30/consumer-confidence-in-u-s-rose-more-than-forecast-in-april.html
[4/30/13]
3 - csmonitor.com/Business/Paper-Economy/2013/0429/Pending-home-sales-climb-1.5-percent-in-March
[4/29/13]
4 - ism.ws/ISMReport/NonMfgROB.cfm
[5/3/13]
5 - cnbc.com/id/100704308
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F3%2F12&x=0&y=0
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F3%2F12&x=0&y=0
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F3%2F12&x=0&y=0
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F2%2F08&x=0&y=0
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F2%2F08&x=0&y=0
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F2%2F08&x=0&y=0
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F2%2F03&x=0&y=0
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F2%2F03&x=0&y=0
[5/3/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F2%2F03&x=0&y=0
[5/3/13]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[5/3/13]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[5/3/13]
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Tuesday, May 7, 2013
Economic Update for the week of May 6th, 2013
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