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WEEKLY QUOTE
“Kind
words can be short and easy to speak, but their echoes are truly endless.”
-
Mother Teresa
WEEKLY TIP
Low-fee
or no-fee checking and savings accounts usually let you make major withdrawals
without sizeable penalties. That’s a feature you may appreciate if you find
you need to make an emergency withdrawal in retirement.
WEEKLY RIDDLE
David
put on a white shirt with three large holes in it and went to the grocery
store. No one gave him a funny look; no one objected to it. What kind of
shirt was David wearing?
Last week’s riddle:
Throughout Friday, Hanna asks her mother the same four-word
question. On each occasion, her mother gives her a different answer. What is
the question?
Last week’s answer:
“What time is it?”
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January 14,
2014
INTERPRETING A PERPLEXING JOBS REPORT
Why did the economy generate only 74,000 new jobs last
month? Why did 347,000 people drop out of the job hunt to leave the labor
participation rate at 62.8%, the lowest in 35 years? Was it the weather? Maybe.
As a note from Capital
Economics mentions, the Labor Department found that 273,000 people were
unable to work last month because of weather conditions, well above the
December average of 166,000. The jobless rate fell to a 5-year
low of 6.7% in the final month of 2013, but that was largely due to older workers
retiring and the thinning ranks of job seekers. November’s job growth was
revised upward by 38,000 to 241,000.1,2
A BIT LESS GROWTH IN THE SERVICE SECTOR
December’s non-manufacturing PMI from the Institute for
Supply Management came in at 53.0, down from the prior 53.9 mark. Although
53.0 is the weakest reading in six months, it signifies expansion. Data from
Markit showed service-sector PMIs in China (50.9) and the euro area (51.0) also
down slightly last month.3
FACTORY ORDERS REBOUND IN DECEMBER
The latest report from the Commerce Department noted a
1.8% monthly rise in orders placed with U.S. manufacturers. November’s
retreat in factory orders was revised down to 0.5%.3
A MIXED WEEK ON WALL STREET
The
first full trading week of 2014 brought 5-day gains for the S&P 500 (0.60%)
and Nasdaq (1.03%) but a 0.20% pullback for the Dow. Friday, the big three
closed as follows: DJIA, 16,437.05; NASDAQ, 4,174.67; S&P, 1,842.37.4
THIS WEEK: Nothing
major is scheduled for Monday. Tuesday offers Q4 results from Wells Fargo and
JPMorgan Chase and December retail sales numbers. Wednesday, Bank of America,
Kinder Morgan, Fastenal, CSX and Plexus announce earnings, and a new Federal
Reserve Beige Book and the December PPI arrive. Thursday brings the December
CPI, the January NAHB Housing Market Index, the latest initial jobless
claims, remarks by Ben Bernanke at a special Brookings Institution conference
on central banking, and earnings from UnitedHealth, BB&T, American
Express, Intel, Goldman Sachs, Capital One, BlackRock, Citigroup, Charles
Schwab, First Republic Bank and PNC Financial. Friday offers data on December
industrial output, housing starts, and building permits and the month’s
initial consumer sentiment index from the University of Michigan; General
Electric, Comerica, Bank of NY Mellon, Morgan Stanley, Schlumberger and
SunTrust all post earnings.
Sources: USATODAY.com, bigcharts.com, treasury.gov - 1/10/145,6,7,8
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/l9ywkdk [1/10/14]
2 - forbes.com/sites/samanthasharf/2014/01/10/jobs-report-u-s-economy-added-just-74k-jobs-in-december-unemployment-down-to-6-7/
[1/10/14]
3 - bloomberg.com/news/2014-01-06/ism-non-manufacturing-index-in-u-s-fell-to-53-in-december.html
[1/6/14]
4 - thestreet.com/story/marketstory.html
[1/10/14]
5 - usatoday.com/money/markets/overview/
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F27%2F12&x=0&y=0
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F27%2F12&x=0&y=0
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=1%2F10%2F13&x=0&y=0
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=1%2F9%2F09&x=0&y=0
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=1%2F9%2F09&x=0&y=0
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=1%2F9%2F09&x=0&y=0
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=1%2F9%2F04&x=0&y=0
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=1%2F9%2F04&x=0&y=0
[1/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=1%2F9%2F04&x=0&y=0
[1/10/14]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[1/10/14]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[1/10/14]
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Tuesday, January 14, 2014
Economic Update for the week of January 14th, 2014
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