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WEEKLY QUOTE
“Get
the facts, or the facts will get you. And when you get them, get them right,
or they will get you wrong.”
-
Thomas Fuller
WEEKLY TIP
Double-check
your eligibility for major federal tax credits (AOTC, EITC, child or
dependent care credit, adoption expenses credit, Saver’s Credit and others).
Dollar-for-dollar tax credits are more valuable than tax deductions.
WEEKLY RIDDLE
It
sits when it stands. It walks in jumps. It can grow up to 8' tall. What is it?
Last week’s riddle:
Joe showed up at a business meeting fresh and alert, even though
he had not slept a wink during any of the past four days. Why wasn’t he tired?
Last week’s answer:
He had slept during the past four
nights.
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February 11,
2014
WAS IT THE WEATHER, OR THE ECONOMY?
For a second straight month, hiring was weak. Employers
added 113,000 jobs in January, and while the unemployment rate ticked down to
6.6%, the Labor Department’s latest report came with some caution flags.
Private-sector payrolls expanded by 142,000 new positions, but 29,000 federal
workers were let go and there were actually job cuts in the booming health
care sector. In 2013, the U.S. workforce expanded by an average of 194,000
jobs a month. The February jobs report will either reject or confirm
suspicions of a weakening labor market.1
ISM INDICES FLASH DIFFERENT SIGNALS
Wall Street did not expect the Institute for Supply
Management’s January manufacturing PMI to drop to 51.3 from the (revised)
December reading of 56.5. Economists surveyed by Briefing.com forecast a
January reading of 56.0. ISM’s service sector PMI improved a full point to
54.0 in January.2
FACTORY ORDERS SLIP; SO DO AUTO SALES
The Census Bureau recorded a 1.5% December retreat in
factory orders, offsetting an equal December gain. Although Chrysler and
Nissan reported January sales gains, other major automakers did not as fewer
Americans purchased cars last month due to the miserable weather across much
of the nation. In January, auto sales were down 3.0% year-over-year.2,3
STOCKS REBOUND, ADVANCE FOR THE WEEK
Investors
bought back into stocks Thursday and Friday, offsetting last Monday’s major
plunge. That resulted in the following weekly performances: DJIA, +0.61% to 15,794.08;
NASDAQ, +0.54% to 4,125.86; S&P 500, +0.81% to 1,797.02.4
THIS WEEK: Nothing
major is scheduled for Monday. On Tuesday, Federal Reserve chair Janet Yellen
delivers the central bank’s semi-annual report on monetary policy to
Congress, and the market considers earnings from TripAdvisor, CVS/Caremark,
Sprint, PG& E, Western Union, Mosaic, and Dean Foods plus data on December
wholesale inventories. Wednesday offers earnings from Cisco, CBS, Applied
Materials, Whole Foods, NVIDIA, Deere, NetApp, MetLife and Fidelity. More
earnings arrive Thursday – Avon, PepsiCo, Agilent, Nielsen, Kraft and
Goodyear – plus reports on January retail sales and December business
inventories. This month’s preliminary University of Michigan consumer
sentiment index comes out Friday, as does the Fed’s report on January industrial
output.
Sources: USATODAY.com, bigcharts.com, treasury.gov - 2/7/145,6,7,8
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. This information has been derived
from sources believed to be accurate. Please note - investing involves risk,
and past performance is no guarantee of future results. 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. 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. This is neither a solicitation nor recommendation to
purchase or sell any investment or insurance product or service, and should
not be relied upon as such. All indices are unmanaged and are not
illustrative of any particular investment. 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 - marketwatch.com/story/us-economy-adds-113000-jobs-in-january-2014-02-07
[2/7/14]
2 - briefing.com/investor/calendars/economic/ [2/7/14]
3 - zacks.com/stock/news/121918/Cold-Weather-Hits-Jan-US-Auto-Sales
[2/4/14]
4 - thestreet.com/story/12317464/1/market-hustle-us-stocks-gain-as-markets-shrug-off-jobs-miss.html
[2/7/14]
5 - usatoday.com/money/markets/overview/
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F7%2F12&x=0&y=0
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F7%2F12&x=0&y=0
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F7%2F13&x=0&y=0
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F6%2F09&x=0&y=0
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F6%2F09&x=0&y=0
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F6%2F09&x=0&y=0
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F6%2F04&x=0&y=0
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F6%2F04&x=0&y=0
[2/7/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F6%2F04&x=0&y=0
[2/7/14]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[2/7/14]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/7/14]
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Tuesday, February 11, 2014
Economic Update for the week of February 11th, 2014
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