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WEEKLY QUOTE
“Depend
not on fortune, but on conduct.”
- Publilius Syrus
WEEKLY TIP
If
the bull market corrects or wanes, remember that saving and investing are
long-range efforts. A downturn may be a prime time to save and invest. As an
example, dollars invested in equities during the last bear market have
returned more than those invested since.
WEEKLY RIDDLE
Buried
in wood from one end to the other, my head is exposed while I keep things
together. What am I?
Last week’s riddle:
They have wings. As they grow up, they also grow down. What are
they?
Last week’s answer:
Geese.
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March 10,
2015
GREAT JOBS REPORT MIGHT GIVE FED A
SIGNAL
Good
news on Main Street was not so good for Wall Street. Non-farm employers added
295,000 new workers to payrolls in February, according to the Labor
Department; the headline unemployment rate fell to 5.5% while the U-6 rate
measuring the unemployed plus underemployed declined to 11.0%. Professional
and business sector hiring was up 3.5% year-over-year, construction hiring
5.3%. These labor market improvements weighed on the stock market Friday,
with the S&P 500 (-29.78) suffering its biggest one-day loss since January
– investors worried that the report would tip the Federal Reserve toward
tightening sooner, even with only 2.0% hourly wage growth over the past year.1,2
PERSONAL SPENDING SLIPS IN JANUARY
Rather than spending leftover money resulting from falling
gas prices, households seem to be saving it. The Commerce Department said
consumer spending lessened 0.2% in January after declining 0.3% in December. Core
personal spending (with fuel and energy expenditures removed) did rise 0.3%.3
ISM FACTORY PMI SHOWS SMALL DECLINE
February
saw the Institute for Supply Management’s manufacturing PMI tail off 0.6
points to a 52.9 mark. ISM’s service sector PMI rose 0.2% to a reading of
56.9, however. In other manufacturing news, January brought a 0.2% retreat in
the Federal Reserve’s gauge of factory orders, which had slipped 3.5% in
December.1,4
STOCKS POST 5-DAY LOSSES
Friday’s selloff left the S&P 500 down 1.58% for the week,
the Dow off 1.52% and the Nasdaq down 0.73%. Friday’s settlements for the big
three were as follows: S&P, 2071.26; Dow, 17,856.78; Nasdaq, 4,927.37.5
THIS WEEK: Monday, Urban
Outfitters and Casey’s General Stores report quarterly results. Tuesday
brings a report on January wholesale inventories and earnings from VeriFone
and Barnes & Noble. Men’s Wearhouse, Rosetta Stone, Shake Shack and
Krispy Kreme present earnings Wednesday. Reports on February retail sales,
January business inventories and euro area factory output arrive Thursday
along with the latest initial claims figures and earnings from Jamba, RE/MAX,
El Pollo Loco, FTD, Dollar General and Aeropostale. March’s initial
University of Michigan consumer sentiment index appears Friday, along with
February’s Producer Price Index.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 3/6/156,7,8,9
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/ [3/6/15]
2- marketwatch.com/column/market-snapshot?dist=tbeforebell
[3/6/15]
3 - reuters.com/article/2015/03/02/us-usa-economy-spending-idUSKBN0LY1DU20150302
[3/2/15]
4 - ism.ws/ISMReport/NonMfgROB.cfm [3/6/15]
5 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[3/6/15]
6 - markets.wsj.com/us [3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F6%2F14&x=0&y=0
[3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F6%2F14&x=0&y=0
[3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F6%2F14&x=0&y=0
[3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F5%2F10&x=0&y=0
[3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F5%2F10&x=0&y=0
[3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F5%2F10&x=0&y=0
[3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F7%2F05&x=0&y=0
[3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F7%2F05&x=0&y=0
[3/6/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F7%2F05&x=0&y=0
[3/6/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/6/15]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/6/15]
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Tuesday, March 10, 2015
Economic Update for the week of March 10th, 2015
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