|
|||||||||||||||||||||||||||||||
|
WEEKLY QUOTE
“The
wisest mind has something yet to learn.”
- George Santayana
WEEKLY TIP
Do
you have any idle money around – money parked in an account that is basically
forgotten or earning little or no interest? It may be time to explore other
options for those dollars. That money could be working harder for you.
WEEKLY RIDDLE
Jacquie
and her daughter Amanda walk past a man in a café. Amanda says “Hello,
father” – and a split-second later, so does Jacquie. How are they both able
to make this remark to him without any confusion or embarrassment?
Last week’s riddle:
What has no arms, legs or form, yet goes up without ever coming
down?
Last week’s answer:
Your age.
|
July 14,
2015
GREECE GIVES IN, STOCKS RALLY
In an about-face development, the Greek government acceded
to the demands of its creditors Thursday night. Prime minister Alexis Tsipras
submitted a bailout proposal similar to the one the Greek people had rejected
by referendum on July 5, including sales tax hikes, pension spending cuts and
debt restructuring. Leaders of the European Union will discuss the new
proposal at a Sunday summit. A 3-year, €53.5 billion relief package depends
on their approval, and the approval of Greece’s parliament. Wall Street certainly
approved the turn of events on Friday, with the S&P 500 rising 1.23%. For
the week, the S&P went -0.01% to settle at 2,076.62, the Dow +0.17% t0 reach
17,760.41, and the NASDAQ -0.23% to descend to 4,997.70.1,2
A GAIN FOR THE ISM SERVICES PMI
The
Institute for Supply Management’s services sector purchasing manager index rose
0.3 points in May to a mark of 56.0. For the past year, it has averaged a
reading of 57.2. By ISM’s barometer, the sector has expanded for 65 straight
months.3
YELLEN: 2015
RATE HIKE SEEMS “APPROPRIATE”
Speaking in Cleveland Friday, Federal Reserve chair Janet
Yellen said that “it will be appropriate at some point later this year to
take the first step to raise the federal funds rate and thus begin
normalizing monetary policy.” She noted that the steps to normalization would
be data-dependent and gradual, adding that “monetary policy will need to be
highly supportive of economic activity for quite some time.”4
CRUDE & GOLD PRICES SINK
West Texas Intermediate crude closed down at $52.74 on the
NYMEX Friday after rising more than $1.oo for the session. Gold and silver both
lost 0.5% for the week, respectively settling at $1,157.90 and $15.48 on the
COMEX Friday.5
THIS WEEK: U.S.
markets will react to the outcome of the EU summit Monday; no major news is
scheduled stateside. Tuesday, June retail sales figures complement earnings
from Fastenal, Johnson & Johnson, JPMorgan Chase, Wells Fargo and Yum!
Brands. Wednesday, Fed chair Janet Yellen testifies on monetary policy in Congress;
Wall Street also considers a new Fed Beige Book, the June PPI, June
industrial output and earnings from Bank of America, BlackRock, Intel, Delta
Air Lines, East West Bancorp, Kinder Morgan, Seagate, U.S. Bancorp and
Netflix. Thursday brings new initial claims numbers and earnings from
BB&T, Blackstone Group, Charles Schwab, Domino’s, eBay, Goldman Sachs,
Google, Mattel, Philip Morris, Schlumberger, Citigroup, Sherwin-Williams and
UnitedHealth. Friday, earnings from Comerica, GE and Honeywell appear plus
the June CPI.
Sources: wsj.com, bigcharts.com, treasury.gov - 7/10/156,7,8,9
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.
|
||||||||||||||||||||||||||||||
|
Please feel
free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address. We will contact them first and request their permission to add them to our list. |
|||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||
|
«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 - bloomberg.com/news/articles/2015-07-10/greece-seeks-eu53-5-billion-bailout-as-tsipras-bows-to-demands
[7/10/15]
2 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[7/10/15]
3 - instituteforsupplymanagement.org/ISMReport/NonMfgROB.cfm [7/6/15]
4 - businessinsider.com/janet-yellen-us-economic-outlook-speech-july-10-2015-7
[7/10/15]
5 - proactiveinvestors.com/companies/news/62360/gold-drops-01-to-1157-wti-little-changed-at-5274-62360.html
[7/10/15]
6 - markets.wsj.com/us [7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F10%2F14&x=0&y=0
[7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F10%2F14&x=0&y=0
[7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F10%2F14&x=0&y=0
[7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F9%2F10&x=0&y=0
[7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F9%2F10&x=0&y=0
[7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F9%2F10&x=0&y=0
[7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F11%2F05&x=0&y=0
[7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F11%2F05&x=0&y=0
[7/10/15]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F11%2F05&x=0&y=0
[7/10/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[7/10/15]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[7/10/15]
|
|||||||||||||||||||||||||||||||
Tuesday, July 14, 2015
Economic Update for the week of July 14th, 2015
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment