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WEEKLY QUOTE
“Beware
of the man who won’t be bothered with details.”
- William Feather
WEEKLY TIP
If
you are marrying, take a moment to see how your new marital status will
affect your federal and state taxes, and whether it would be best to file
jointly or separately.
WEEKLY RIDDLE
A
400-yard long promenade has an ornate brass bench every 100 yards on both
sides, including ones at its beginning and end. So in total, how many benches
are there along this promenade?
Last week’s riddle:
How do you spell “hard water” using only three letters?
Last week’s answer:
Use the letters I-C-E.
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April 14,
2015
SERVICE SECTOR CONTINUES TO EXPAND
At
56.5, the Institute for Supply Management’s March non-manufacturing index
came in 0.4 points beneath its February reading but still indicated healthy
expansion for the service industry. While business activity fell by 1.9%, new
orders improved 1.1% and new export orders 6.0%. America’s service sector
grew for a 62nd straight month.1
COULD THE FED TIGHTEN LATE IN Q2?
Minutes from the Federal Open Market Committee’s March
policy meeting stated that “several participants” felt economic data was
strong enough to prompt an interest rate increase at its June meeting.
(Federal Reserve board officials and regional presidents are all defined by
the Fed as “participants.”) Richmond Fed president Jeffrey Lacker reiterated
his support for a hike to reporters last week, noting that rates could be
reduced again if economic conditions
warranted.2
OIL PRICES CLIMB 5.1% IN A WEEK
That advance took light sweet crude to a NYMEX close of $51.64
a barrel Friday, and that rise came even with a 6% descent last Wednesday.
Gold had a relatively flat week, gaining 0.3% on the COMEX to settle Friday
at $1,204.60; silver futures moved south 1.9%, ending the week at $16.38.3,4
STOCKS PUSH HIGHER
Intriguing M&A activity helped the market rally last
week. The Nasdaq advanced 2.23% in five days to close at 4,995.98 Friday. The
Dow moved north 1.66% to 18,057.65 while the S&P 500 rose 1.70% to
2,102.06.5
THIS WEEK: Nothing
major is scheduled for Monday. Tuesday brings earnings from JPMorgan Chase,
Wells Fargo, Fastenal, Intel, CSX and Johnson & Johnson, plus the March
PPI and data on March retail sales and euro area industrial output. Wednesday
offers data on industrial production in the U.S. and China, a GDP reading
from China, a new Fed Beige Book and earnings from Bank of America, Charles
Schwab, Delta Air Lines, Kinder Morgan, Netflix, PNC, Progressive, SanDisk
and U.S. Bancorp. On Thursday, housing starts numbers for March arrive, G-20
finance ministers meet in Washington D.C. and earnings from American Express,
AMD, Blackstone Group, Citigroup, Goldman Sachs, Mattel, Philip Morris and
Sherwin-Williams appear. The University of Michigan’s preliminary March
consumer sentiment index comes out Friday, and so do the March CPI and the latest
CPI for the euro area; on the earnings front, GE, Comerica, Seagate
Technology and Honeywell all issue announcements.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 4/10/156,7,8,9
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 - ism.ws/ismreport/nonmfgrob.cfm [4/6/15]
2 - tinyurl.com/oyqdoyl [4/10/15]
3 -
marketwatch.com/story/oil-futures-stable-after-volatile-week-wti-above-50-a-barrel-mark-2015-04-10
[4/10/15]
4 - marketwatch.com/story/gold-struggles-to-hold-weekly-winning-streak-alive-2015-04-10
[4/10/15]
5 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[4/10/15]
6 - markets.wsj.com/us [4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F3%10F14&x=0&y=0
[4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F10%2F14&x=0&y=0
[4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F10%2F14&x=0&y=0
[4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F9%2F10&x=0&y=0
[4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F9%2F10&x=0&y=0
[4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F9%2F10&x=0&y=0
[4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F11%2F05&x=0&y=0
[4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F11%2F05&x=0&y=0
[4/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F11%2F05&x=0&y=0
[4/10/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[4/10/15]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[4/10/15]
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Tuesday, April 14, 2015
Economic Update for the week of April 14th, 2015
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