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WEEKLY QUOTE
“If
you can dream it, you can achieve it.”
-
Zig Ziglar
WEEKLY TIP
If
you have worked for your current employer for just a few years, check to make
sure that you are now fully vested in the retirement plan it sponsors.
WEEKLY RIDDLE
I am only one syllable long and too heavy for one person
to lift, but if you reverse me I am not. What am I?
Last week’s riddle:
How many times can you subtract the number 75 from 7,500?
Last week’s answer:
Once, because after the first
subtraction, you will then be subtracting 75 from 7,425 and so forth.
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November 12,
2013
SHUTDOWN DOESN’T DETER HIRING
The Labor Department’s delayed October employment report
showed the economy adding 204,000 new jobs last month. Analysts polled by
Reuters had only expected a gain of 125,000. The unemployment rate actually
rose to 7.3%, as those analysts had predicted. This was a nice Friday
surprise for Wall Street, and it also made investors wonder if the tapering
of QE3 could come before the end of the year. A solid November employment
report could offer further grounds for that move.1
FIRST Q3 GDP ESTIMATE TOPS EXPECTATIONS
In another nice surprise for Wall Street, the Bureau of
Economic Analysis put third quarter growth at 2.8%, whereas economists
surveyed by MarketWatch had projected a reading of 2.3%. In related news, a
federal report showed factory orders up 1.7% in September, and the Institute
for Supply Management’s service sector PMI rose a full point in October to
55.4.2,3
HOUSEHOLD INCOMES OUTPACE SPENDING
The September consumer spending report was a bit of a
disappointment. Personal spending increased 0.2% (economists polled by
MarketWatch had forecast a 0.3% rise) while personal incomes rose 0.5%,
suggesting that households saved more and spent less of what they earned. November’s
initial University of Michigan consumer sentiment index came in at 72.0, down
from the final October mark of 73.2.3
DOW CLOSES AT NEW PEAK
Rising
1.08% on the day and 0.94% on the week, the DJIA settled at a new all-time
peak of 15,761.78 Friday. The S&P 500 rose 0.51% across five days to settle
at 1,770.61 at week’s end, while the tech-heavy NASDAQ lost 0.07% in the same
stretch, closing Friday at 3,919.23. Incidentally, the S&P is now riding
a 5-week win streak, its longest since mid-February.1,4
THIS WEEK: Earnings season
is winding down, but it should still take center stage this week with light
data coming out of Washington. Monday is Veterans Day, a federal holiday; bond
markets are closed, but the stock market is open and NewsCorp, American
Apparel, Dick’s Sporting Goods and Trend Micro will present Q3 results. Tuesday brings earnings from Dish Network, DR
Horton, Dean Foods and Pandora. Wednesday offers Q3 results from Cisco
and Macy’s. On Thursday, earnings reports from Wal-Mart, Kohl’s, Nordstrom,
Williams Sonoma, Vodafone, Viacom and Agilent arrive along with new initial
claims figures. Reports on October industrial output and September wholesale
inventories appear Friday.
Sources: USATODAY.com, bigcharts.com, treasury.gov - 11/8/135,6,7,8
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 - tinyurl.com/kvl7fbr
[11/8/13]
2 - usatoday.com/story/money/business/2013/11/07/third-quarter-gdp-report/3452547/
[11/7/13]
3 - marketwatch.com/Economy-Politics/Calendars/Economic
[11/8/13]
4 - google.com/finance?q=INDEXDJX%3A.DJI&ei=oHF9Usj8IoOeiQLiKA
[11/8/13]
5 - usatoday.com/money/markets/overview/
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F8%2F12&x=0&y=0
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F8%2F12&x=0&y=0
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F8%2F12&x=0&y=0
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F7%2F08&x=0&y=0
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F7%2F08&x=0&y=0
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F7%2F08&x=0&y=0
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F7%2F03&x=0&y=0
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F7%2F03&x=0&y=0
[11/8/13]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F7%2F03&x=0&y=0
[11/8/13]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/8/13]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/8/13]
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Tuesday, November 12, 2013
Economic Update for the week of November 12th, 2013
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