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WEEKLY QUOTE
“Don’t
rule out working with your hands. It does not preclude using your head.”
- Andy Rooney
WEEKLY TIP
If
you are newly married, think about creating a joint savings or checking
account to which you can both contribute each month. The money in the account
can be used to pay for jointly incurred financial/household expenses.
WEEKLY RIDDLE
Katherine
and Sterling each have the same amount of pears. How many pears does
Katherine need to give Sterling so that Sterling has 10 more pears than she
does?
Last week’s riddle:
I am astonishingly light, but even the strongest person in the
world can only hold me for a few minutes. What am I?
Last week’s answer:
Air.
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February 24,
2015
GREECE DEAL, FED MINUTES REASSURE
INVESTORS
On
Friday, Greece reached an agreement with eurozone finance ministers to extend
its economic bailout through June. The four extra months of financial aid
depend on reforms that the country will present to its creditors this week (they
must be approved by April). Stateside, minutes from the Federal Reserve’s
January policy meeting noted that most Fed officials favored “keeping the
federal funds rate at its effective lower bound for a longer time,” which
also pleased the markets.1,2
PRODUCER PRICES FALL BY MOST IN 5 YEARS
Labor
Department data showed an 0.8% dip in the Producer Price Index in January,
the largest monthly decline since November 2009. Cheaper fuel costs were the
major factor. The core PPI (minus food and energy prices) was flat
year-over-year.2
LESS GROUNDBREAKING IN JANUARY
The pace of housing starts slowed 2.0% last month – not
surprising given the rough weather in much of the nation. January also saw building permits
decline 0.7%. While the Commerce Department reported fewer
single-family projects starting up, multi-family construction actually
accelerated in the year’s opening month.2
STOCKS MOVE NORTH
Solid gains occurred during a short trading week: DJIA,
0.94% to 18,140.44; NASDAQ, 2.02% to 4,955.97; S&P 500, 0.63% to
2,110.30. WTI crude fell 5.20% for the week, settling Friday at $49.91 a barrel;
gold slipped 2.36% for the week to a Friday COMEX settlement of 1,199.10.3
THIS WEEK: The
National Association of Realtors reports January existing home sales on Monday.
Tuesday, Fed chair Janet Yellen begins two days of testimony to the Senate
Banking Committee, and February’s Conference Board consumer confidence index,
the December S&P/Case-Shiller home price index, a new reading on euro
area inflation and earnings from Home Depot, Hertz Global, Comcast, Macy’s,
First Solar, Domino’s, Hewlett-Packard and Office Depot arrive. Wednesday, investors
assess the Census Bureau’s report on January new home buying, an HSBC factory
PMI for China and earnings from Lowe’s, Campbell Soup, RBC, SodaStream, TJX,
Target, Chesapeake Energy, Dollar Tree and Transocean. News items for
Thursday include January’s CPI and durable goods orders, new initial claims figures
and quarterly results from Sempra Energy, AMC Networks, Anheuser-Busch,
Autodesk, Gap, Herbalife, J.C. Penney, Kohl’s, L Brands and Monster. On Friday,
the second estimate of Q4 GDP arrives, plus the University of Michigan’s
final February consumer sentiment index and NAR’s January pending home sales
report.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 2/20/154,5,6,7
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/kfx2gv2 [2/20/15]
2 - bloomberg.com/news/articles/2015-02-18/factory-production-in-u-s-climbed-less-than-forecast-in-january
[2/18/15]
3 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[2/20/15]
4 - markets.wsj.com/us [2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F20%2F14&x=0&y=0
[2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F20%2F14&x=0&y=0
[2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F20%2F14&x=0&y=0
[2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F19%2F10&x=0&y=0
[2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F19%2F10&x=0&y=0
[2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F19%2F10&x=0&y=0
[2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F18%2F05&x=0&y=0
[2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F18%2F05&x=0&y=0
[2/20/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F18%2F05&x=0&y=0
[2/20/15]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[2/20/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/20/15]
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Tuesday, February 24, 2015
Economic Update for the week of February 24th, 2015
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