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WEEKLY QUOTE
“We
touch other people’s lives simply by existing.”
- J.K. Rowling
WEEKLY TIP
You
have until April 15, 2015, to make IRA contributions for the 2014 tax year.
If you want to make your 2014 contribution in early 2015, just be sure to
note that the contribution should apply to 2014.
WEEKLY RIDDLE
I
often exist in the unaware; I persist, yet they don’t care. My hosts may have
a blind eye, and a deaf ear; inform them, and I will disappear. What am I?
Last week’s riddle:
The more of these you take, the more of these you will likely
leave behind. What are they?
Last week’s answer:
Footsteps and footprints.
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November 25,
2014
HOME SALES IMPROVE, PERMITS HIT 6-YEAR
PEAK
Last
month saw a 1.5% gain in existing home sales, according to the National
Association of Realtors. That took the annualized increase in home buying to
2.5%. NAR measured the inventory of unsold homes at 5.1 months in October; compare
that with 11.9 months in July 2010. Census Bureau data showed building
permits at a high unseen since June 2008 thanks to a 4.8% October jump (there
was a 10.0% leap in permits for apartment projects alone). October did see
less groundbreaking, with housing starts slipping 2.8%; year-over-year, they
were still up 7.7%.1,2
CPI STAYS STILL IN OCTOBER
The
overall Consumer Price Index didn’t budge last month, although the Labor
Department did report the core CPI (which excludes energy and food prices)
advancing 0.2%. The Producer Price Index was up 0.2% last month after an 0.1%
September decline.3
FACTORY OUTPUT DISAPPOINTS
Economists surveyed by MarketWatch expected U.S.
industrial production to rise 0.2% after the 0.8% gain in September. Instead, the Federal
Reserve’s latest report showed industrial output down by 0.1% for October.3
STIMULUS SIGNALS PUSH STOCKS HIGHER
A surprise interest rate cut by the Bank of China and a
pledge from European Central Bank President Mario Draghi to stoke euro area
inflation gave U.S. equities a lift Friday. The S&P 500 ended the week
1.16% higher at 2,063.50; across five days, the Dow rose 0.99% to 17,810.06 and
the Nasdaq 0.52% to 4,712.97. The S&P has now surged more than 11% off of
its October low.4,5
THIS WEEK: Nothing
major is slated for Monday. Tuesday sees the release of the
September S&P/Case-Shiller home price index, the Conference Board’s latest
consumer confidence index and the BEA’s second estimate of Q3 GDP; Wall
Street also interprets earnings from Campbell’s Soup, Hewlett-Packard, Hormel
Foods, Tiffany and TiVo. Wednesday brings November’s final
University of Michigan consumer sentiment index, reports on October durable
goods orders, personal spending, new home sales and pending home sales, the
latest initial claims figures and quarterly results from Deere & Co.
Thursday is Thanksgiving Day, so U.S. stock and bond markets will be closed;
OPEC oil ministers will meet in Vienna. Wall Street will be open for a short
trading day Friday, with the NYSE and NASDAQ closing at 1:00pm EST and the
bond market likely closing at 2:00pm EST; investors will react to eurozone
inflation and unemployment numbers for October.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 11/21/146,7,8,9
Indices
are unmanaged, do not incur fees or expenses, and cannot be invested into
directly. These returns do not include dividends. 10-year TIPS real yield =
projected return at maturity given expected inflation.
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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 - haver.com/comment/comment.html?c=141120E.html [11/20/14]
2 - haver.com/comment/comment.html?c=141119A.html [11/19/14]
3 - marketwatch.com/economy-politics/calendars/economic [11/21/14]
4 - bloomberg.com/news/2014-11-21/u-s-index-futures-rise-as-s-p-500-heads-for-fifth-weekly-gain.html
[11/21/14]
5 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[11/21/14]
6 - markets.wsj.com/us [11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F21%2F13&x=0&y=0
[11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F21%2F13&x=0&y=0
[11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F21%2F13&x=0&y=0
[11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F20%2F09&x=0&y=0
[11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F20%2F09&x=0&y=0
[11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F20%2F09&x=0&y=0
[11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F22%2F04&x=0&y=0
[11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F22%2F04&x=0&y=0
[11/21/14]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F22%2F04&x=0&y=0
[11/21/14]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/21/14]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/21/14]
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Tuesday, November 25, 2014
Economic Update for the week of November 25th, 2014
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