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WEEKLY QUOTE
“Great
works are performed not by strength, but perseverance.”
- Samuel Johnson
WEEKLY TIP
A
mental trick to help you build your emergency fund: treat it like a bill that
you have to pay each month, and make a corresponding monthly “payment” to it.
WEEKLY RIDDLE
Three
playing cards lie face down on a table. A jack is to the left of a queen. To
the left of a spade is a diamond. A king is left of a heart. A spade is right
of a king. What are the three cards?
Last week’s riddle:
When I change my jacket, I make a loud noise and become larger,
but I weigh less. What am I?
Last week’s answer:
Popcorn.
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June 24,
2014
INFLATION PICKS UP
The Consumer Price Index increased 0.4% in May – the
biggest monthly rise in over a year, with food prices up 0.5%. Labor
Department data showed the core CPI (minus energy and food prices) up 0.3%
for May; that was its largest monthly advance since August 2011. All this put
the annualized gain in the headline CPI at 2.1% and the yearly gain in core
CPI at 2.0%. Analysts polled by Reuters thought the overall CPI would
increase 0.2% last month. The turmoil in Iraq could help to drive consumer
prices higher this summer.1
MAY SEES LESS NEW RESIDENTIAL
CONSTRUCTION
Reduced home buying eventually means reduced
groundbreaking. May’s housing numbers from the Census Bureau reflected that –
housing starts slipped 6.5% last month while building permits fell 6.4%.
Housing starts are still maintaining a million-unit seasonally adjusted annual
pace.1
OIL SETTLES AT A 9-MONTH HIGH
$107.26 a barrel – that was where NYMEX crude for July
delivery closed at Friday. Even so, prices leveled off last week as ISIS
insurgents in Iraq remained far away from Basra, that country’s hub for oil exports.2
WILL THE DOW REACH 17,000 THIS WEEK?
At
Friday’s close, the blue chips stood at 16,947.08. The Dow rose another 1.02%
last week, and its 5-day gain was surpassed by the advances of the Nasdaq (+1.33%
to 4,368.04) and the S&P 500 (1.37% to 1,962.87). Investors were
encouraged by the Federal Reserve: the Federal Open Market Committee predictably
elected to make another $10 billion cut to QE3 for July and expressed
confidence that the economy was improving in its Wednesday policy statement,
even as it cut its projections for 2014 growth slightly to 2.1%.3,4,5
THIS WEEK: The NAR
releases its May existing home sales report Monday. On Tuesday, the Conference
Board’s June consumer confidence index, the Census Bureau’s May new home
sales report and the April S&P/Case-Shiller home price index all arrive,
along with quarterly results from Walgreens. The last federal government
estimate of Q1 GDP appears Wednesday, plus the Census Bureau’s May report on
durable goods orders and earnings from Bed Bath & Beyond, Lennar, General
Mills and Monsanto. Thursday brings May consumer spending data from the
Commerce Department, the latest initial jobless claims figures and earnings
announcements from Nike, ConAgra Foods and Accenture. Friday sees the release
of the University of Michigan’s final June consumer sentiment index.
Sources: USATODAY.com, bigcharts.com, treasury.gov - 6/20/145,6,7,8
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 MarketingPro,
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
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/pkdpugh
[6/17/14]
2 - marketwatch.com/story/brent-slips-below-115-as-iraq-worries-simmer-2014-06-20
[6/20/14]
3 - google.com/finance?q=INDEXDJX%3A.DJI&ei=Aa-kU7C5O6SxsgezkIHQDA
[6/20/14]
4 - cbsnews.com/news/federal-reserve-tapers-by-another-10-billion/
[6/18/14]
5 - usatoday.com/money/markets/overview/ [6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F20%2F13&x=0&y=0
[6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F20%2F13&x=0&y=0
[6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F20%2F13&x=0&y=0
[6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F19%2F09&x=0&y=0
[6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F19%2F09&x=0&y=0
[6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F19%2F09&x=0&y=0
[6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F21%2F04&x=0&y=0
[6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F21%2F04&x=0&y=0
[6/20/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F21%2F04&x=0&y=0
[6/20/14]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/20/14]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/20/14]
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Tuesday, June 24, 2014
Economic Update for the week of June 24th, 2014
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