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WEEKLY QUOTE
“No
problem is so formidable that you can’t walk away from it.”
- Charles M. Schulz
WEEKLY TIP
Student
discounts abound. Urge your son or daughter to take advantage of every retail
discount they can get with a campus ID card.
WEEKLY RIDDLE
What
8-letter name would be cute and logical for a house cat living below the Mason-Dixon
line?
Last week’s riddle:
A ship cruised out of the Pacific Ocean and into the Atlantic
Ocean through the Panama Canal – but as it went through the Panama Canal, it
didn’t travel east. How is this possible?
Last week’s answer:
The Panama Canal runs
northwest-southeast. Ships travel northwest through the canal to enter the
Caribbean Sea (and the Atlantic Ocean).
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February 10,
2015
EMPLOYERS ADD 257,000 JOBS IN JANUARY
That
beat the 230,000 hires forecast in a MarketWatch consensus of analysts. Yes,
the headline jobless rate actually rose 0.1% to 5.7% last month, and the
total unemployment rate (U-6) rose for the first time in six months to 11.3%
- but average hourly wages were up 0.5%, a striking shift after the 0.3%
December decrease.1,2
ONE ISM PMI FALLS, ANOTHER RISES
The
Institute for Supply Management’s January factory PMI lost 1.6 points to come
in at 53.5, while its January service sector index advanced 0.2 points to
56.7. Analysts polled by MarketWatch projected readings of 55.0 for the
manufacturing gauge and 56.5 for the services gauge. In related news, the
Federal Reserve said factory orders fell 3.4% in December, twice the November
decline.1
CONSUMER SPENDING SANK IN DECEMBER
December saw a welcome 0.3% gain in consumer
incomes but also a 0.3% pullback in consumer spending – the largest monthly
dip since 2009. The Commerce Department noted sizable December declines in
car and truck sales – and less spending on gas and other fuels. The personal
savings rate rose 0.6% to 4.9%.3
MOMENTUM RETURNS TO THE MARKET
Oil rallied, hiring topped expectations and the euro area
was poised to receive an economic stimulus, so big gains were the order of
the week. The Dow soared 3.84% in five trading days, settling Friday at
17,824.29. The same stretch saw the Nasdaq climb 2.35% to 4,744.40 and the
S&P 500 jump 3.03% to 2,055.47. Light sweet crude gained 8.84% last week
in New York to reach $52.08 a barrel Friday; gold futures lost 3.62% on the
COMEX.4
THIS WEEK: Monday, Wall
Street reviews Q4 results from Loews Corp. and Hasbro. Tuesday
brings data on December wholesale stockpiles plus earnings from CVS Health,
Akamai, Dean Foods, LifeLock, Monster, Genworth, Kinross Gold, Molson Coors, Spirit
Airlines, Starwood Hotels and Western Union. More earnings appear on Wednesday:
Cisco, Tesla, Baidu, MetLife, Applied Materials, Panera, AOL, Cheesecake
Factory, NetApp, Mosaic, Nvidia, PepsiCo, Owens Corning, Panera, Tesoro, Time
Warner, TripAdvisor, Whole Foods and Zulily. January retail sales and
December business inventories reports are out on Thursday, along with the
latest initial jobless claims numbers and earnings from Coca-Cola, Avon,
Apache, Groupon, Zynga, AIG, Boyd Gaming, CBS, Kellogg, Kraft Foods and
Shutterfly. The University of Michigan’s initial February consumer sentiment
index and earnings from J.M. Smucker and Red Robin complete the week on Friday.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 2/6/155,6,7,8
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 - marketwatch.com/economy-politics/calendars/economic [2/6/15]
2 - tinyurl.com/nyfpnt2 [2/6/15]
3 - marketwatch.com/story/consumer-spending-posts-biggest-drop-since-2009-2015-02-02
[2/2/15]
4 -
markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp [2/6/15]
5 - markets.wsj.com/us [2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F6%2F14&x=0&y=0
[2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F6%2F14&x=0&y=0
[2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F6%2F14&x=0&y=0
[2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F5%2F10&x=0&y=0
[2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F5%2F10&x=0&y=0
[2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F5%2F10&x=0&y=0
[2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F7%2F05&x=0&y=0
[2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F7%2F05&x=0&y=0
[2/6/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F7%2F05&x=0&y=0
[2/6/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[2/6/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/6/15]
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Tuesday, February 10, 2015
Economic Update for the week of February 10th, 2015
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