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WEEKLY QUOTE
“Ability will never catch up with the demand for it.”
- Malcolm
Forbes
WEEKLY TIP
Make
a contribution to a 529 plan by December 31 to have it count for the 2014 tax
year. You may be eligible for a state income tax deduction as a result.
WEEKLY RIDDLE
It can be less thick than your finger when it folds, yet as
thick as what it carries when it holds. What is it?
Last week’s 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 answer:
Ignorance.
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December 2,
2014
CAUTIOUS SPENDING, BUT
IMPRESSIVE GROWTH
Personal income and personal spending both rose 0.2% in October,
according to the Commerce Department. Not too impressive? Maybe, but the federal
government’s second estimate of Q3 GDP was. Pair the newly revised 3.9%
reading with the final 4.6% mark for Q2, and you get the best 6 months for
the economy since 2003. The Federal Reserve’s personal consumption
expenditure (PCE) price index was only up 1.4% in the past year; the Fed has
set its annual consumer inflation target at 2.0%.1
CONSUMER SENTIMENT
BAROMETERS RISE & FALL
At 88.7, the Conference Board’s November consumer confidence index
slipped badly from October’s 94.5 mark. In better news, the University of
Michigan’s consumer sentiment index notched a monthly gain of 1.9 points with
an 88.8 final November reading.2
HOUSING MARKET CONTINUES TO NORMALIZE
Last week, September’s 20-city S&P/Case-Shiller home
price index showed a 4.9% yearly rise, much less than the double-digit annual
gains seen in the March and April editions. Pending home sales, as measured
by the National Association of Realtors, were down 1.1% for October; that is
the third retreat in five months. October did see a third straight monthly
advance in new home buying; sales were up 0.7% according to the Census
Bureau.2
MINOR ADVANCE FOR STOCKS, MAJOR RETREAT
BY OIL
NYMEX crude closed out the month at $66.15 a barrel, the
lowest since September 2009; prices slipped 10.2% on Friday alone after OPEC
decided not to cut supply. The S&P 500, on the other hand, gained 0.20%
last week to settle at 2,067.56 Friday. The Dow’s weekly advance of 0.10%
took it to a close of 17,828.24 Friday afternoon; the Nasdaq rose 1.67% on
the week to end November at 4,791.63.3,4
THIS WEEK: Monday,
ISM puts out its November manufacturing PMI. Tuesday,
Wall Street considers earnings from Radio Shack, Bob Evans and Omnivision.
Wednesday sees the release of ISM’s November services sector PMI, a new Fed
Beige Book, ADP’s November employment change report and earnings from Guess?
and Abercrombie & Fitch. Barnes & Noble, Smith & Wesson, American
Eagle, Kroger and Dollar General all announce earnings Thursday, which is
also when November’s Challenger job-cut report and the latest initial jobless
claims numbers arrive. Friday offers the Labor Department’s November
employment report, data on October factory orders and earnings from Big Lots.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 11/28/145,6,7,8
Indices
are unmanaged, do not incur fees or expenses, and cannot be invested into
directly. These returns do not include dividends. 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 - tinyurl.com/p4asvgk [11/26/14]
2 - investing.com/economic-calendar/ [11/26/14]
3 - tinyurl.com/k2drhcb [11/28/14]
4 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[11/28/14]
5 - markets.wsj.com/us [11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F29%2F13&x=0&y=0
[11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F29%2F13&x=0&y=0
[11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F29%2F13&x=0&y=0
[11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F27%2F09&x=0&y=0
[11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F27%2F09&x=0&y=0
[11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F27%2F09&x=0&y=0
[11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F29%2F04&x=0&y=0
[11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F29%2F04&x=0&y=0
[11/28/14]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F29%2F04&x=0&y=0
[11/28/14]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/28/14]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/28/14]
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Tuesday, December 2, 2014
Economic Update for the week of December 2nd, 2014
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