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WEEKLY QUOTE
“Always
bear in mind that your own resolution to succeed is more important than any
other.”
- Abraham Lincoln
WEEKLY TIP
Understanding
the tax status of your investments can help you arrange your withdrawals to
make the most out of your retirement funds.
WEEKLY RIDDLE
In the morning, I lie at your feet. I almost vanish in
midday sun. But I’ll be with you all day as you stand, walk, leap a run. What
am I?
Last week’s riddle:
A 10k cross-country run through the woods attracts 36 entrants.
The day is unseasonably hot, and the course is not laid out well. Three
runners get lost, five quit and 28 finish the run. What happens to the other
entrants?
Last week’s answer:
The whereabouts of all entrants are
known, as 3 + 5 + 28 = 36.
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September 23,
2013
NO TAPERING YET...BUT COULD IT HAPPEN
SOON?
The DJIA hit an all-time high Wednesday after the Federal
Reserve decided not to reduce its $85 billion monthly stimulus effort.
Friday, the index lost 185 points on the heels of comments from St. Louis Fed
President James Bullard (who said that QE3 could be tapered next month) and
Kansas City Fed President Esther George (who said that the decision not to
taper created confusion in the markets). So investors wonder: is an “Octaper”
ahead? This week is data-heavy, and investors will be keeping an eye on
federal budget talks in addition to any comments from Fed officials. The
September FOMC minutes come out on October 9; the next Fed policy
announcement occurs on October 30.1,2
RISING INTEREST RATES PROMPT HOMEBUYING
Existing
home sales hit a six-year peak in August, rising 1.7% for the month in the
estimate of the National Association of Realtors. The big reason? Buyers ran
to lock in interest rates on mortgages before they increased further. The
median price of an existing home in August was $212,100 – 14.7% higher than
in August 2012. Housing starts rose 0.9% in August, according to the Commerce
Department.3
CPI BARELY BUDGES IN AUGUST
Consumer
inflation (as measured by the Consumer Price Index) ticked up 0.1% last month.
The core CPI also rose 0.1%. Economists surveyed by Briefing.com had expected
0.2% August gains for both the headline and core indices.4
STOCKS ADVANCE FOR THIRD CONSECUTIVE
WEEK
A
bad Friday still left the Dow at 15,451.09 at the end of the week. Across a
volatile five days, it rose 0.49%; the S&P 500 (+1.30% to 1,709.91) and
NASDAQ (+1.41% to 3,774.73) both outperformed it last week.1
THIS WEEK: On Monday,
Goldman Sachs, Nike and Visa join the DJIA (replacing Alcoa, Bank of America
and Hewlett-Packard); Red Hat announces Q2 results. July’s S&P/Case-Shiller
home price index and FHFA home price index appear Tuesday, along with the
Conference Board’s September consumer confidence survey and earnings from
Lennar, CarMax and KBHome. Wednesday, the Census Bureau issues August new
home sales figures, the August durable goods orders report arrives, and Bed
Bath & Beyond and AutoZone report earnings. Thursday brings the last
estimate of Q2 GDP from the federal government, NAR’s report on August
pending home sales, new initial jobless claims numbers and Q2 results from
Accenture and Nike. Friday offers the University of Michigan’s final
September consumer sentiment index, the August consumer spending numbers and earnings
from Blackberry.
Sources: cnbc.com, bigcharts.com, treasury.gov - 9/20/131,5,6,7
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 - tinyurl.com/lco7mw2 [9/20/13]
2 - federalreserve.gov/whatsnext.htm
[9/19/13]
3 - sfgate.com/business/bloomberg/article/Sales-of-U-S-Existing-Homes-Rise-in-August-to-4827311.php
[9/19/13]
4 - briefing.com/investor/calendars/economic/2013/09/16-20
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F20%2F12&x=0&y=0
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F20%2F12&x=0&y=0
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F20%2F12&x=0&y=0
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F19%2F08&x=0&y=0
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F19%2F08&x=0&y=0
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F19%2F08&x=0&y=0
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F19%2F03&x=0&y=0
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F19%2F03&x=0&y=0
[9/20/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F19%2F03&x=0&y=0
[9/20/13]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[9/20/13]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[9/20/13]
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Tuesday, September 24, 2013
Economic Update for the week of September 23rd, 2013
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