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WEEKLY QUOTE
“The
great thing about getting older is that you don’t lose all the other ages
you’ve been.”
- Madeleine L’Engle
WEEKLY TIP
Are
you a sole proprietor? If so, see if any net earned income you receive from
your business entity may be subject to self-employment tax. This is also
worth looking at if you are a manager in an LLC or an active partner in a
partnership.
WEEKLY RIDDLE
Constantly
hungry, I must always be fed – and any finger I touch will soon turn red.
What am I?
Last week’s riddle:
What falls yet does not make noise?
Last week’s answer:
Night.
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June 30,
2015
CONSUMER SPENDING INCREASES 0.9%
This
May gain represents quite a change from the mere 0.1% improvement recorded by
the Commerce Department for April. It appears households have started to
spend some of the money they saved on fuel and energy costs this winter. Consumer
incomes rose 0.5% in May, replicating their April advance.1
HOUSEHOLDS FEEL MORE OPTIMISTIC
The
University of Michigan announced a final June reading of 96.1 for its
consumer sentiment index – its highest mark since January. Analysts polled by
Briefing.com had expected no change from the final May reading of 94.6.2
HOUSING MARKET
LEAVES DOLDRUMS BEHIND
A 2.2% increase in May took new home buying to a level unseen
since February 2008: an annualized pace of 546,000 units. Moreover, the
Census Bureau reported a 19.5% year-over-year gain for new home purchases.
Existing home sales rose 5.1% in May according to the National Association of
Realtors, nearing a 6-year peak.3
SILVER LINING IN DURABLE GOODS, Q1 GDP
NUMBERS
America’s economy shrank 0.2% in Q1 according to the final
estimate of the federal government, but that was an improvement from the 0.7%
setback previously announced. Census Bureau data showed hard goods orders
down 1.8% in May, but they were actually up 0.5% last month with
transportation orders factored out.1
5-DAY LOSSES FOR THE 3 MAJOR INDICES
The impasse between Greece and its creditors weighed on
global equity markets last week, including ours. Across five trading days,
the Dow gave back 0.38% to settle Friday at 17,947.02. The Nasdaq lost 0.71% on
the week to a Friday settlement of 5,080.51 while the S&P 500 slipped 0.40%
to wrap the week at 2,101.61.4
THIS WEEK: Monday, the
NAR offers its May pending home sales index and Paychex reports Q2 results. Tuesday
sees the release of the Conference Board’s June consumer confidence index, April’s
S&P Case/Shiller home price index and earnings from ConAgra Foods. The
third quarter kicks off Wednesday with the arrival of ISM’s June factory PMI,
the June Challenger job cuts report, ADP’s June employment change report and
earnings from Constellation Brands and General Mills. As the federal
government observes the July 4 holiday on Friday, the Labor Department’s June
jobs report will appear on Thursday along with the latest initial jobless
claims numbers and the Commerce Department’s report on May factory orders.
Wall Street will be closed for business on Friday.
Sources: wsj.com, bigcharts.com, treasury.gov - 6/26/155,6,7,8
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 - briefing.com/investor/calendars/economic/2015/06/22-26 [6/26/15]
2 - briefing.com/Investor/Calendars/Economic/Releases/mich.htm [6/26/15]
3 - nasdaq.com/article/us-new-home-sales-climb-to-sevenyear-high-in-may-20150623-00645
[6/23/15]
4 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[6/26/15]
5 - markets.wsj.com/us [6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F26%2F14&x=0&y=0
[6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F26%2F14&x=0&y=0
[6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F26%2F14&x=0&y=0
[6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F25%2F10&x=0&y=0
[6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F25%2F10&x=0&y=0
[6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F25%2F10&x=0&y=0
[6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F27%2F05&x=0&y=0
[6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F27%2F05&x=0&y=0
[6/26/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F27%2F05&x=0&y=0
[6/26/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/26/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/26/15]
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Tuesday, June 30, 2015
Economic Update for the week of June 30th, 2015
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