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WEEKLY QUOTE
“Don’t
let the past steal your present.”
-
Cherrie L. Moraga
WEEKLY TIP
If
you receive an inheritance, make sure your spouse understands your
expectations for the money. Do you consider those assets yours to manage, or
do you consider them joint assets?
WEEKLY RIDDLE
You
can make it and read about it today, and many classes are taught in it, but
it is not part of the future. What is it?
Last week’s riddle:
Dave is at the hardware store to buy something for his house.
Yesterday, he bought 1 for $1. The week before he bought 10 for $2 and his
friend bought 100 for $3. Today he bought 907 for $3. If the prices haven’t
changed, how is this possible?
Last week’s answer:
Dave and his friend have been
buying house numbers. 907 is $3 because it costs $1 per numeral.
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January 28,
2014
MORE HOMES MOVE IN DECEMBER
Last month saw a 1.0% gain in existing home sales, a nice change
for this key economic indicator after a few subpar months. Analysts surveyed
by Dow Jones Newswires anticipated sales improving 0.6%. The National
Association of Realtors did revise November’s sales decline to 5.9% (it had
been 4.3%).1,2
GAUGE OF NEAR-TERM PROSPECTS EDGES
HIGHER
The Conference Board’s index of leading indicators –
intended to assess economic prospects for the next 3-6 months – ticked up
0.1% for December. Additionally, the CB revised the November gain of the
index from 0.8% to 1.0%.1
GOLD RALLY CONTINUES
Futures advanced for a fifth straight week, settling
Friday at $1,264.30 an ounce on the COMEX after rising 1.0% in 5 days, helped
by a wave of disappointing economic news from overseas. The precious metal hasn’t
had such a long winning streak since September 2012.3
STOCKS STAGE A MAJOR RETREAT
Weak
manufacturing data from China and an exit from emerging market currencies
triggered a 2-day global selloff at the end of last week. The Argentine peso
dropped 15% in 5 days, and the Russian ruble, South African rand and Brazil
real also slumped. As a result, the DJIA had its poorest week in more than 2
years (-3.52%). The Nasdaq lost 1.65% for the week while the S&P 500 fell
2.63%. At the close Friday, here was where the big three stood: S&P,
1,790.29; DJIA,
15,879.11; NASDAQ, 4,128.17.4,5
THIS WEEK: Monday
brings Q4 results from Apple and Caterpillar and the Census Bureau’s report
on December new home sales. On Tuesday, investors will consider the
Conference Board’s January consumer confidence index, the November
Case-Shiller home price index, December durable goods orders and earnings
from Amgen, Ford Motor Co., Yahoo, Comcast, AT&T, Siemens and Pfizer. The
earnings parade continues Wednesday with quarterly results from Dow Chemical,
Novartis, Qualcomm, Boeing and Biogen – and the Federal Reserve makes a
policy announcement. Thursday, NAR reports December pending home sales, the
first federal estimate of Q4 growth appears, and earnings arrive from Amazon,
Google, Banco Santander, Ericsson, LVMH, Royal Dutch Shell, H&M, Exxon
Mobil, Visa, UPS and 3M. Friday, the Commerce Department issues its December personal
spending report, the University of Michigan’s final January consumer
sentiment index appears, and earnings arrive from Chevron, MasterCard and
BBVA.
Sources: USATODAY.com, bigcharts.com, treasury.gov - 1/24/146,7,8,9
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 - nasdaq.com/article/european-markets-pulled-back-on-weak-chinese-data--earnings-20140123-00763
[1/23/14]
2 - tinyurl.com/mav8xv6 [1/22/14]
3 - proactiveinvestors.com.au/companies/news/52211/gold-climbs-again-friday-longest-rally-since-september-2012-52211.html
[1/24/14]
4 - thestreet.com/story/marketstory.html
[1/24/14]
5 - businessweek.com/news/2014-01-24/argentina-to-ease-fx-controls-after-peso-fell-most-in-12-years
[1/24/14]
6 - usatoday.com/money/markets/overview/
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=1%2F24%2F12&x=0&y=0
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=1%2F24%2F12&x=0&y=0
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=1%2F24%2F13&x=0&y=0
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=1%2F23%2F09&x=0&y=0
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=1%2F23%2F09&x=0&y=0
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=1%2F23%2F09&x=0&y=0
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=1%2F23%2F04&x=0&y=0
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=1%2F23%2F04&x=0&y=0
[1/24/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=1%2F23%2F04&x=0&y=0
[1/24/14]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[1/24/14]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[1/24/14]
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Tuesday, January 28, 2014
Economic update for the week of January 28th, 2014
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