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WEEKLY QUOTE
“I’ve
failed over and over and over again in my life, and that is why I succeed.”
-
Michael Jordan
WEEKLY TIP
If
your business is past its inception stage, it isn’t too early to think about
an exit strategy. You want to tackle this task at least a few years before the
business is sold or transferred.
WEEKLY RIDDLE
A palindrome is any word, phrase, or number that reads the
same either forward or backward. Can you think of a palindrome word that, when
spelled in all capitals, looks the same backwards, forwards, or upside down?
Last week’s riddle:
I’m not alive, yet I grow. I need air, yet I have no lungs. I
lack a mouth, yet water will calm me down. What am I?
Last week’s answer:
Fire.
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December 3,
2013
CONFIDENCE INDEX FALLS, SENTIMENT INDEX
RISES
Two respected barometers of consumer mood went different
ways in November. The Conference Board’s consumer confidence index came in at
a disappointing 70.4, down from a revised 72.4 mark for October and well below
the 74.0 reading forecast by Briefing.com. November’s final consumer
sentiment index from the University of Michigan rose to 75.1, topping the
Briefing.com projection by 1.6 points.1
HOUSING INDICATORS LARGELY IMPRESS
September’s edition of the S&P/Case-Shiller Home Price
Index found house prices rising 3.2% for the third quarter, 13.3% YTD and
11.2% across the past 12 months. Building permits rose 6.2% in October, with
the Census Bureau measuring a 13.9% annual gain. Pending home sales declined
for another month: they fell 0.6% for October, the National Association of
Realtors noted.1,2
DURABLE GOODS ORDERS DECLINE
Overall hard goods orders slipped 2.0% in October, partly
reversing the 4.1% increase in September. The silver lining? The Census
Bureau found that October’s retreat was just 0.1% with transportation orders
removed.1
NOVEMBER ENDS WITH FURTHER STOCK GAINS
The
NASDAQ was the frontrunner among the big three U.S. indices last week, rising
1.71% to 4,059.89. Both the S&P 500 (+0.06% to 1,805.81) and Dow (+0.13%
to 16,086.41) realized tiny gains during the abbreviated trading week. Turning
to the NYMEX, oil and gold both had poor Novembers: on the month, gold slid 5.46%
to $1,250.60 an ounce and light crude dropped 3.60% to $92.72 a barrel.3,4,5,6
THIS WEEK: Monday,
ISM releases its November manufacturing PMI and the Census Bureau provides
September and October construction spending data. Tuesday, the Commerce
Department releases figures on November auto sales. On Wednesday, ISM puts
out its November service sector PMI, the Federal Reserve offers a new Beige
Book, the Census Bureau issues long-awaited September and October new home
sales figures, and ADP produces its November job change report. The federal
government releases its second estimate of Q3 GDP Thursday; also on tap for
that day are the November Challenger job cuts report, data on October factory
orders, and the latest initial jobless claims numbers. Friday, the Labor
Department issues the November employment report, the Commerce Department
publishes data on October consumer spending, and December’s preliminary
University of Michigan consumer sentiment index arrives.
Sources: CNNMoney.com, bigcharts.com, treasury.gov - 11/29/133,4,5,7,8,9
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 - briefing.com/investor/calendars/economic/2013/11/25-29
[11/27/13]
2 - dailyfinance.com/2013/11/26/case-shillers-housing-index-and-octobers-housing-s/
[11/26/13]
3 - money.cnn.com/data/markets/dow/
[11/29/13]
4 - money.cnn.com/data/markets/nasdaq/
[11/29/13]
5 - money.cnn.com/data/markets/sandp/
[11/29/13]
6 - money.cnn.com/data/commodities/
[11/29/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F29%2F12&x=0&y=0
[11/28/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F29%2F12&x=0&y=0
[11/28/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F29%2F12&x=0&y=0
[11/28/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F28%2F08&x=0&y=0
[11/28/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F28%2F08&x=0&y=0
[11/28/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F28%2F08&x=0&y=0
[11/28/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F28%2F03&x=0&y=0
[11/28/13]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F28%2F03&x=0&y=0
[11/28/13]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F28%2F03&x=0&y=0
[11/28/13]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/29/13]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/28/13]
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Tuesday, December 3, 2013
Economic Update for the week of December 3rd, 2013
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