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WEEKLY QUOTE
“If
we couldn’t laugh, we would all go insane.”
- Jimmy Buffett
WEEKLY TIP
If
your child or grandchild recently graduated from college, consider suggesting
a move that might help him or her get a financial jump on other millennials:
living on 70-80% of earned income and investing or saving the rest.
WEEKLY RIDDLE
It
has a thumb and four fingers, but isn’t alive. What could it be?
Last week’s riddle:
It usually loses a head by noon, but that same head often returns
by midnight. What is it?
Last week’s answer:
A pillow.
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October 14,
2014
WHEN WILL THE MARKET CALM DOWN?
Earnings
didn’t preoccupy investors last week; Europe did. The International Monetary
Fund warned that the euro area could enter another recession; European Central
Bank president Mario Draghi urged EU member nations to go in for quantitative
easing, but German finance minister Wolfgang Schäuble disagreed. IMF and
Federal Reserve officials noted the potential for Europe to slow global and
U.S. growth. Factor in a selloff in small caps and a plunge for oil, and you
had the CBOE VIX hitting an 8-month high of 20.53 Friday. A very poor week for
equities ended with the Dow at 16,544.10, the Nasdaq at 4,276.24 and the
S&P 500 at 1,906.13. Losing 3.14% in five days, the S&P had its worst
week in two years. Maybe earnings will pull some focus from Europe this coming
week.1,2
OIL HITS A 9-MONTH LOW AS GOLD FUTURES
RISE
NYMEX crude finished Friday’s trading session at just $85.52
a barrel. Futures fell 4.4% in five days. On Thursday, West Texas
Intermediate crude entered a bear market, one day after Brent crude did. Oil
production of OPEC nations hit a 3-year peak in September. COMEX gold was the
bright spot last week, settling at $1,221.70 Friday. Across five days,
the yellow metal gained 2.4% for its first weekly ascent since late September.
COMEX silver ended the week at $17.30.1,3
WALL STREET FINDS REASSURANCE IN FED
MINUTES
The Federal Open Market Committee again used the phrase
“considerable time” in the minutes of its September 16-17 policy meeting – a
rough projection of the lag time between the end of QE3 and adjustments to
the federal funds rate. That language helped the S&P 500 rise 1.8%
Wednesday.4
THIS WEEK: EU
finance ministers meet on Monday, which is also Columbus Day; U.S. bond
markets will be closed. Tuesday, earnings from Citigroup, Wells Fargo, JPMorgan
Chase, Healthcare Services, Intel, CSX, Domino’s Pizza, J.B. Hunt and Johnson
& Johnson arrive plus a report on September euro area industrial output. September’s
PPI and retail sales data appear Wednesday, plus a new Fed Beige Book, China’s
latest inflation reading and earnings from American Express, eBay, Kinder
Morgan, PNC, Bank of America, BlackRock, Netflix and Charles Schwab. Thursday
brings the latest CPI for the euro area, numbers on U.S. industrial output
and earnings from BB&T, Fifth Third, AMD, Blackstone Group, Capital One,
Delta Air Lines, Bancorp, Goldman Sachs, Google, Mattel, Philip Morris,
SanDisk, Schlumberger and UnitedHealth. Friday morning, Fed chair Janet
Yellen speaks in Boston and Wall Street looks at September housing starts
data and the initial October consumer sentiment index from the University of
Michigan.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 10/10/145,6,7,8
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 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 - bloomberg.com/news/2014-10-09/index-futures-slip-as-stocks-slump-while-oil-extends-drop.html
[10/10/14]
2 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[10/10/14]
3 - proactiveinvestors.com/companies/news/57379/gold-slides-03-oil-records-biggest-weekly-drop-since-january-57379.html
[10/10/14]
4 - usatoday.com/story/money/markets/2014/10/08/stocks-wednesday/16900165/
[10/8/14]
5 - markets.wsj.com/us [10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F10%2F13&x=0&y=0
[10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F10%2F13&x=0&y=0
[10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F10%2F13&x=0&y=0
[10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F9%2F09&x=0&y=0
[10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F9%2F09&x=0&y=0
[10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F9%2F09&x=0&y=0
[10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F11%2F04&x=0&y=0
[10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F11%2F04&x=0&y=0
[10/10/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F11%2F04&x=0&y=0
[10/10/14]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[10/10/14]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[10/10/14]
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Tuesday, October 14, 2014
Economic Update for the week of October 14th, 2014
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