|
|||||||||||||||||||||||||||||||
|
WEEKLY QUOTE
“Quality
is not an act, it is a habit.”
- Aristotle
WEEKLY TIP
Give
the quarterly investment statements you receive more than a glance. If there
is a mistake, you have a chance to spot it now instead of having to find it
later.
WEEKLY RIDDLE
It can be told, made, cracked, and played. What is it?
Last week’s riddle:
You hold a sheet of cellophane. Fully unfolded, it is 3 feet long
by 2 feet wide. How can you get two people to stand on it (when it is fully
unfolded) in such a way that they can't touch or see each other?
Last week’s answer:
Slide the fully unfolded sheet
under a door (or a sufficiently large partition that is not transparent or
opaque) and have each person stand on the sheet while on either side of the
door or partition.
|
June 24,
2013
FED OUTLINES END FOR STIMULUS, STOCKS
SLIP
Last Wednesday, Federal Reserve Chairman Ben Bernanke
shared the central bank’s vision for winding down its current aggressive
easing effort – the potential tapering of QE3 by late 2013, and the end of
the program by mid-2014 if economic conditions permit. Wall Street reacted
abruptly – the Dow sank more than 550 points in less than two trading
sessions. In the near term, the Fed will keep buying $85 billion in bonds per
month and maintain interest rates at near-zero levels.1,2
INFLATION PRESSURE MINIMAL IN MAY
The
0.1% rise in the Consumer Price Index last month put yearly inflation at
1.4%, well under the Fed’s 2.0% target. Energy prices rose 0.4% in May but
fell 1.0% in a year; medical costs declined 0.1% for May, the first monthly
decrease since 1975.3
EXISTING HOME SALES IMPROVE
The
National Association of Realtors reported a 4.2% jump in residential resales
for May, with the annualized sales pace topping the 5 million mark for the
first time in 3½ years. From May 2012 to May 2013, the median price of an existing
home rose 15.4% to $208,000 as the number of listings on the market shrank
10.1%.4
LEADING INDICATORS EDGE NORTH 0.1% IN
MAY
Slight
improvement was seen in the Conference Board’s latest barometer of the
economic outlook for the next 3-6 months, but economists surveyed by
Bloomberg thought it would rise 0.2%. April’s gain was revised up to 0.8%.4
A WILD RIDE FOR STOCKS
Volatility
was rampant last week on Wall Street, and so were losses. In five days, the
S&P 500 slipped 2.11% to 1,592.43, the Dow lost 1.80% to 14,799.40 and
the NASDAQ fell 1.94% to 3,357.25.5
THIS WEEK: Nothing
major is scheduled for Monday. Tuesday brings the April Case-Shiller and FHFA
home price indices, the Conference Board’s June consumer confidence poll,
reports on May hard goods orders and new home sales and earnings from Lennar,
Carnival, Walgreens and Barnes & Noble. Wednesday, the Bureau of Economic
Analysis publishes its final estimate of Q1 GDP, and earnings arrive from
Monsanto, Bed Bath & Beyond and General Mills. The latest initial jobless
claims figures come in Thursday, along with NAR’s report on May pending home
sales, the Commerce Department’s report on May consumer spending and earnings
news from KBHome, ConAgra, Nike and Accenture. Friday brings the final June
University of Michigan consumer sentiment survey and earnings from Blackberry.
Sources: cnbc.com, usatoday.com, bigcharts.com, treasury.gov - 6/21/135,6,7,8,9
Indices are unmanaged, do not
incur fees or expenses, and cannot be invested into directly.
These returns do not include
dividends.
|
||||||||||||||||||||||||||||||
|
Please feel
free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address. We will contact them first and request their permission to add them to our list. |
|||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||
|
«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/100831276 [6/20/13]
2 -
foxbusiness.com/markets/2013/06/19/wall-street-pummeled-amid-fed-woes/
[6/19/13]
3 - online.wsj.com/article/SB10001424127887323566804578553151902340728.html
[6/18/13]
4 - bloomberg.com/news/2013-06-20/sales-of-previously-owned-u-s-homes-rise-more-than-forecast.html
[6/20/13]
5 - cnbc.com/id/100834381
[6/21/13]
6 - usatoday.com/money/markets/overview/
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F21%2F12&x=0&y=0
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F21%2F12&x=0&y=0
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F21%2F12&x=0&y=0
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F20%2F08&x=0&y=0
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F20%2F08&x=0&y=0
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F20%2F08&x=0&y=0
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F20%2F03&x=0&y=0
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F20%2F03&x=0&y=0
[6/21/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F20%2F03&x=0&y=0
[6/21/13]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/21/13]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/21/13]
|
|||||||||||||||||||||||||||||||
Tuesday, June 25, 2013
Economic Update for the week of June 24th, 2013
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment