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WEEKLY QUOTE
“We
don’t know who we are until we see what we can do.”
- Martha Grimes
WEEKLY TIP
Tax
prep software is great, but you’re still on your own when you use it. If
you’re self-employed or a freelancer, consider meeting with an accountant who
can spot additional opportunities for deductions and savings.
WEEKLY RIDDLE
My
three eyes blink, and I give you commands. Although I can’t see, the changing
colors in me prompt you to obey me with your wheels, feet and hands. What am
I?
Last week’s riddle:
You can separate them with a word, yet they are mostly
inseparable. What are they?
Last week’s answer:
Your lips.
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November 11,
2014
UNEMPLOYMENT DOWN TO 5.8%
America’s
jobless rate dipped 0.1% in October as companies hired 214,000 new workers.
Analysts polled by the Wall Street
Journal had expected no improvement. In another nice development, the U-6
rate measuring underemployment plus unemployment fell 0.3% last month to
11.5%, 2.2% lower than a year before. Additionally, the Labor Department
revised August and September hiring figures; firms added 31,000 more jobs during
those months than previously estimated.1
ONE SECTOR HEATS UP, ANOTHER COOLS DOWN
October
factory and service sector PMIs from the Institute for Supply Management were
a mixed bag. The service sector PMI slipped to 57.1 (which was still 2.0
points above where it was a year prior). ISM’s manufacturing PMI, on the
other hand, rose 2.4 points for October to 59.0.2,3
GOLD BREAKS 7-DAY LOSING STREAK; OIL
UNDER $80
The yellow metal settled at $1,169.80 an ounce on the
COMEX Friday. Its 2.4% Friday advance – representing its first winning market
day since October 28 – couldn’t offset a 1.5% weekly retreat. West Texas
Intermediate crude finished up the week at a mere $78.65 a barrel on the
NYMEX.4
FUTURES MOVE HIGHER FOR THE WEEK
Friday found the Dow closing at a record high once more: 17,573.93.
It rose 1.04% across five days. The Nasdaq and S&P 500 respectively
gained 0.04% and 0.69% last week on their way to respective Friday
settlements of 4,632.53 and 2,031.92.5
THIS WEEK: Monday,
Wall Street examines the latest inflation reading from China and quarterly
results from Dean Foods. On Tuesday (Veterans Day), the stock market is open
with D.R. Horton reporting Q3 results. Wednesday, the Street looks at
earnings from Abercrombie & Fitch, Macy’s and J. C. Penney along with
reports on euro area factory output and U.S. business inventories. Thursday,
Janet Yellen speaks at an economic forum at the Federal Reserve, a new
initial claims report appears and investors look at new retail sales and
manufacturing data from China in addition to earnings from Wal-Mart, Kohl’s,
Nordstrom, RE/MAX Holdings and Viacom. Friday, the market reacts to data on October
retail sales and September business stockpiles, November’s initial University
of Michigan consumer sentiment index, and the latest measures of euro area
inflation and GDP.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 11/7/146,7,8,9
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 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 - blogs.wsj.com/briefly/2014/11/07/october-jobs-report-the-numbers/
[11/7/14]
2 - haver.com/comment/comment.html?c=141105C.html [11/5/14]
3 - ism.ws/ismreport/mfgrob.cfm [11/4/14]
4 - proactiveinvestors.com/companies/news/57991/gold-snaps-7-day-retreat-wti-up-at-7865-57991.html
[11/7/14]
5 - fxstreet.com/news/forex-news/article.aspx?storyid=cc595c22-222c-41ea-8e15-6a0297ccf803
[11/7/14]
6 - markets.wsj.com/us [11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F7%2F13&x=0&y=0
[11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F7%2F13&x=0&y=0
[11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F7%2F13&x=0&y=0
[11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F6%2F09&x=0&y=0
[11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F6%2F09&x=0&y=0
[11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F6%2F09&x=0&y=0
[11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F8%2F04&x=0&y=0
[11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F8%2F04&x=0&y=0
[11/7/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F8%2F04&x=0&y=0
[11/7/14]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/7/14]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/7/14]
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Tuesday, November 11, 2014
Economic Update for the week of Nov. 11th, 2014
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