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WEEKLY QUOTE
“We
become what we think about.”
-
Earl Nightingale
WEEKLY TIP
A
good FICO score can really pay off. A credit score of 750 or higher may help
you get a home loan at the best available interest rate, positioning you to
save tens of thousands of dollars in the long run.
WEEKLY RIDDLE
What common English-language word becomes shorter when you
make it longer?
Last week’s 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 answer:
A ton.
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November 19,
2013
YELLEN EMPHASIZES FURTHER EASING
While conceding that the Federal Reserve’s current
stimulus effort “will not continue indefinitely,” Federal Reserve chair
nominee Janet Yellen sounded decidedly dovish at her confirmation hearing in
the Senate last week. “Supporting the recovery today is the surest
path to returning to a more normal approach to monetary policy,” she noted,
which global markets took as a signal that tapering was not in
the immediate future. The S&P 500 hit a new record close after her
comments Thursday; gold and silver futures and the MSCI Emerging Markets
Index all rose 1.4% on the day.1
HEALTHCARE ENROLLMENT ISSUES LINGER
While demand was reasonably high at the new online health insurance
exchanges in October (975,000+ people found that they were eligible for
coverage), total enrollment for the month was just 106,000. As tweaks
continued to be made to healthcare.gov, President Obama announced that
insurers don’t yet have to cancel plans that fail to meet Affordable Care Act
standards. Friday, the House passed a GOP bill that would let insurers offer such policies to
new customers as well as existing ones in 2014; President Obama has indicated
he will veto this bill.2,3
EARNINGS GROWTH SURPASSES ESTIMATES
As of Friday, 461 firms in the S&P 500 had reported
earnings – and according to Bloomberg, 75% of them had beaten profit forecasts. Bloomberg
projects S&P 500 earnings up 4.9% for Q3 and 5.8% for Q4.4
DOW...16,000? S&P...1,800?
NASDAQ...4,000?
Soon,
the major U.S. indices could top those psychologically important levels. Friday
saw another record close for the S&P 500: 1,798.18. The Dow settled
Friday at 15,961.70 (also a new record close), the NASDAQ at 3,985.97. Weekly
performances were as follows: S&P, +1.56%; DJIA, +1.27%; NASDAQ, +1.70%.5
THIS WEEK: Monday
brings earnings from Salesforce, Tyson Foods and Urban Outfitters and the
November NAHB Housing Market Index. Tuesday offers earnings from Campbell
Soup Co., TJX, Best Buy, Home Depot and Medtronic. Wednesday, NAR publishes
October existing home sales numbers, and the federal government issues the
October CPI, the October FOMC minutes and the report on October retail sales;
ADT, Lowe’s, JCPenney, J.M. Smucker, Deere and Staples announce earnings. Thursday,
October’s PPI and new initial claims figures complement earnings from Abercrombie
& Fitch, Target, Gap, Gamestop, Ross, Intuit and Dollar Tree. Friday,
PetSmart announces Q3 results.
Sources: USATODAY.com, bigcharts.com, treasury.gov - 11/15/136,7,8,9
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/2013-11-13/asian-futures-heed-u-s-rally-as-yelen-boosts-treasuries.html
[11/13/13]
2 - washingtonpost.com/blogs/plum-line/wp/2013/11/13/what-the-obamacare-enrollment-numbers-really-tell-us/
[11/13/13]
3 - usatoday.com/story/news/politics/2013/11/15/house-cancelled-plans-bill/3576071/
[11/15/13]
4 - sfgate.com/business/bloomberg/article/U-S-Stocks-Rise-on-Fed-Bets-Amid-Industrial-4985720.php
[11/15/13]
5 - fxstreet.com/news/forex-news/article.aspx?storyid=5f3ccc1a-1b74-482b-b7fe-37046d8e5fc4
[11/15/13]
6 - usatoday.com/money/markets/overview/
[11/15/13]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F15%2F12&x=0&y=0
[11/15/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F15%2F12&x=0&y=0
[11/15/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F15%2F12&x=0&y=0
[11/15/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F14%2F08&x=0&y=0
[11/15/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F14%2F08&x=0&y=0
[11/15/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F14%2F08&x=0&y=0
[11/15/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F14%2F03&x=0&y=0
[11/15/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F14%2F03&x=0&y=0
[11/15/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F14%2F03&x=0&y=0
[11/15/13]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/15/13]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/15/13]
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Tuesday, November 19, 2013
Economic Update for the week of November 19th, 2013
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