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WEEKLY QUOTE
“There
can be no happiness if the things we believe in are different from the things
we do.”
- Freya Stark
WEEKLY TIP
Before
accepting a college loan, be sure that you and your student understand the
consequences of a default. Student loan defaults are currently at historic
highs.
WEEKLY RIDDLE
At
times it begs to be answered, sometimes it interrupts you, but it will never
ask you a question. What is it?
Last week’s riddle:
It traveled from Kentucky to Texas in three days, and it did so
while staying in a corner. What is it?
Last week’s answer:
A postage stamp.
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May 5, 2015
PERSONAL SPENDING IMPROVES, Q1 GDP POOR
Consumer
spending rose 0.4% in March, the Commerce Department noted; that doubled the
February advance. Personal incomes were flat, however. The Bureau of Economic
Analysis said the economy grew 0.2% in the first quarter; in better news, private-sector
wages rose 2.8% in Q1. Another major indicator stayed flat in April: the Institute for Supply Management’s U.S. factory PMI again read just
51.5.1,2
CONSUMER CONFIDENCE POLLS GO DIFFERENT
WAYS
April’s final University of Michigan consumer sentiment
index rose 2.9 points off the final March reading to 95.9, its second-best
mark since 2007. The Conference Board’s April consumer confidence poll came
in at 95.2, a 4-month low.1,2
PENDING HOME SALES, HOME PRICE GAINS
MODERATE
According to the National Association of Realtors, pending
home sales rose 1.1% for April, beating the 0.3% rise forecast by analysts
polled by MarketWatch but down from March’s 3.6% advance. The 20-city
S&P/Case-Shiller home price index showed a 4.2% yearly gain for February,
slightly weaker than the 4.4% rise for January.1
STOCKS SLIP FOR THE WEEK
The weak Q1 GDP estimate and the April 29 Federal Reserve
policy statement that did not quite close the door on a June rate hike were
but two factors in the retreats for the major indices. Last week’s
performances: S&P 500, -0.44% to 2,108.29; Dow, -0.31% to 18,024.06;
Nasdaq, -1.70% to 5,005.39.3,4
THIS WEEK: Key factory
PMIs for China and the euro area arrive Monday, plus a report on March
factory orders and earnings from AMC Networks, Tyson Foods,
Cablevision, Avis Budget, Comcast, Denny’s, Health Net and MGM Resorts. Tuesday,
earnings from Directv, Gulfport Energy, Papa John’s, Allstate, Electronic
Arts, Estee Lauder, Fossil, Groupon, Herbalife, Hyatt Hotels, Kellogg, News
Corp., Office Depot, Sprint, UBS, Walt Disney, Weight Watchers and WestJet accompany
ISM’s March services PMI. Wednesday brings service sector PMIs for China and
the euro area, ADP’s April jobs report, a Janet Yellen speech at a conference
in Washington, and earnings from Tesla, Transocean, Spectra Energy, Choice
Hotels, Anheuser-Busch, Chesapeake Energy, GlaxoSmithKline, Keurig Green
Mountain, Marathon Oil, Motorola Solutions, MetLife, TripAdvisor, Wendy’s, 21st
Century Fox and Whole Foods. Thursday, new initial claims figures are out
plus earnings from Aramark, Norwegian Cruise Line, Monster, Alcatel-Lucent,
Alibaba, ArcelorMittal, CBS, Houghton Mifflin Harcourt, Kemper, Molson Coors
and Zynga. Friday, the government’s April jobs report accompanies earnings
from AOL and Tribune Media.
Sources: online.wsj.com, bigcharts.com, treasury.gov - 5/1/155,6,7,8
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 [5/1/15]
2 - bloomberg.com/news/articles/2015-05-01/consumer-sentiment-in-u-s-rises-to-second-highest-since-2007
[5/1/15]
3 - marketwatch.com/story/federal-reserve-leaves-open-chance-of-june-rate-hike-2015-04-29
[4/29/15]
4 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[5/1/15]
5 - markets.wsj.com/us [5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F1%2F14&x=0&y=0
[5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F1%2F14&x=0&y=0
[5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F1%2F14&x=0&y=0
[5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F30%2F10&x=0&y=0
[5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F30%2F10&x=0&y=0
[5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F30%2F10&x=0&y=0
[5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F2%2F05&x=0&y=0
[5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F2%2F05&x=0&y=0
[5/1/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F2%2F05&x=0&y=0
[5/1/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[5/1/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[5/1/15]
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Tuesday, May 5, 2015
Economic Update for the week of May 5th, 2015
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