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WEEKLY QUOTE
“If
you don’t design your own life plan, chances are you’ll fall into someone
else’s plan. And guess what they have planned for you? Not much.”
-
Jim Rohn
WEEKLY TIP
For
the convenience of your executor and heirs, beneficiary designations you have
made for various accounts, trusts and policies should be outlined in your
will.
WEEKLY RIDDLE
How could Gail drive her car from Cleveland to Miami with a
flat tire?
Last week’s riddle:
If there are 6 pheasants in a stand of cattails and a hunter
shoots one of them, how many pheasants will remain amid the cattails?
Last week’s answer:
None, because the rest of the
pheasants will fly away when they hear the shot.
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October 29,
2013
AN ARGUMENT AGAINST TAPERING
According to the Labor Department, the economy added
148,000 jobs in September. The jobless rate dipped to 7.2%, but job creation
has averaged less than 150,000 for three straight months. (August job growth
was revised up to 193,000, July job growth down to 89,000.) The University of
Michigan’s final October consumer sentiment index slipped in the wake of the federal
shutdown: the 73.2 reading was an 11-month low. Economists polled by Reuters forecast
it coming in at 75.0.1,2
EXISTING HOME SALES PACE SLOWS
There was good news beneath the 1.9% September decrease reported
by the National Association of Realtors. Residential resales have increased
10.7% in the past 12 months, 25.0% with distressed sales factored out. Distressed
sales made up 14% of the market last month compared to 24% a year before. The
median sale price was $199,200 last month, improving 11.7% in a year.3
DURABLES & INVENTORIES: GOOD NEWS
September saw a 3.7% jump in durable goods orders (albeit
a 0.1% retreat minus transportation orders). The Commerce Department also said
wholesale inventories rose 0.5% in August, a hint that businesses and
suppliers expect solid holiday sales.2
ANOTHER RECORD CLOSE FOR THE S&P
500
Rising
0.88% for the week, the S&P settled at a new peak of 1,759.77 Friday, and
both the DJIA (+1.11% to 15,570.28) and NASDAQ (+0.74% to 3,943.36) advanced
with it. Friday’s NASDAQ close represented a 13-year high.2
THIS WEEK: Apple,
Merck and Herbalife announce earnings Monday, which is also when NAR issues its September pending home sales report.
Tuesday brings earnings from Nokia, Baidu, Pfizer, Gilead, Aflac, BP,
Deutsche Bank, UBS, Electronic Arts, LinkedIn and Yelp plus the September
PPI, September retail sales figures, the Conference Board’s October consumer
confidence poll and the August S&P/Case-Shiller home price index. On
Wednesday, the Federal Reserve makes a policy statement and the September CPI
and October ADP employment change report appear; Facebook, General Motors,
Allstate, GlaxoSmithKline, Barclays,
Comcast, Visa, Expedia, Kraft Foods, Boeing
and AT&T are out with earnings. October’s Challenger job-cut
report arrives Thursday, along with a new initial claims report and quarterly
results from ExxonMobil, MasterCard, ConocoPhillips, Sony, Starbucks and AIG.
On Friday, November kicks off with Q3 results from Chevron, the October ISM
manufacturing index and Commerce Department figures on October car and truck
sales.
Sources: usatoday.com, bigcharts.com, treasury.gov - 10/25/134,5,6,7
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 - stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-360718/
[10/22/13]
2 - tinyurl.com/lqwsp7p [10/25/13]
3 - usatoday.com/story/money/business/2013/10/21/september-existing-single-family-home-sales/3141663/
[10/21/13]
4 - usatoday.com/money/markets/overview/
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F25%2F12&x=0&y=0
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F25%2F12&x=0&y=0
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F25%2F12&x=0&y=0
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F24%2F08&x=0&y=0
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F24%2F08&x=0&y=0
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F24%2F08&x=0&y=0
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F24%2F03&x=0&y=0
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F24%2F03&x=0&y=0
[10/25/13]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F24%2F03&x=0&y=0
[10/25/13]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[10/25/13]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[10/25/13]
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Tuesday, October 29, 2013
Economic Update for the week of Oct. 29th, 2013
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