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WEEKLY QUOTE
“Sometimes
life is going to hit you in the head with a brick. Don’t lose faith.”
- Steve Jobs
WEEKLY TIP
How
many of us think about saving first, spending second? Most households save or
invest whatever is left after monthly expenses. Would our savings (and
wealth) grow faster if we saw things the other way around?
WEEKLY RIDDLE
Take
a letter out of it, and it stays put and the same; remove all the letters
from it and it still stays put and stays the same. What is it?
Last week’s riddle:
Brittany carried a load of wood in a wheelbarrow, yet the wood
was neither straight nor crooked. How could this be?
Last week’s answer:
She was carrying a load of
sawdust.
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September 29,
2015
A BIT MORE
OPTIMISM AS SEPTEMBER ENDS
The University of Michigan’s consumer sentiment index
advanced slightly in the past couple of weeks, rising to a final September
mark of 87.2 from its initial reading of 85.7. Regardless, this was the
index’s poorest final monthly reading since October 2014. It did surpass the
expectations of analysts polled by Bloomberg, who expected a final number of
86.5.1
DIFFERENT DIRECTIONS FOR AUGUST HOME
SALES
New
home buying increased 5.7% during the month of August, and the sales pace was
the strongest measured by the Census Bureau since February 2008. This put new
home sales up 21.6% year-over-year. On the other hand, National Association
of Realtors data showed resales slumping 4.8% last month.2
DURABLE GOODS ORDERS RETREAT 2.0%
The
August reduction matched the consensus forecast at Briefing.com. Beneath the
headline number, core durable goods orders (excluding the transportation
category) were flat in August.3
Q2 GDP REVISED UP TO 3.9%
This
is 0.2% better than the previous estimate from the Bureau of Economic
Analysis. Household consumption grew at a 3.6% annual pace in Q2 – double what
it was in Q1. Residential construction grew at a 9.3% pace in the quarter,
business investment at a 5.2% rate.1
A DOWN WEEK FOR EQUITIES
Last week saw the major U.S. indices pull back. On Friday,
the Dow Jones Industrial Average settled at 16314.67, the S&P 500 at
1,931.34 and the Nasdaq Composite at 4,686.50. On the week, the Dow lost 0.43%,
the S&P 1.36%, and the Nasdaq 2.92%.4
THIS WEEK: August
consumer spending figures arrive Monday along with NAR’s latest pending home
sales index. Tuesday, the July Case-Shiller home price index and the
Conference Board’s September consumer confidence index appear, along with
earnings from Barracuda Networks, Costco, and Diamond Foods. Wednesday brings
ADP’s September job-change report and quarterly results from Paychex; also,
Federal Reserve chair Janet Yellen speaks at a banking conference in St.
Louis. On Thursday, Wall Street will watch September’s ISM factory PMI, the September
Challenger job-cut report and the latest initial jobless claims figures. The
Labor Department issues its September employment report Friday.
Sources: wsj.com, bigcharts.com, treasury.gov - 9/25/155,6,7,8
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 - bloomberg.com/news/articles/2015-09-25/economy-in-u-s-picked-up-on-consumer-spending-construction
[9/25/15]
2 - housingwire.com/articles/35142-new-home-sales-climb-57-in-august
[9/24/15]
3 - briefing.com/investor/calendars/economic/2015/09/21-25 [9/25/15]
4 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[9/25/15]
5 - markets.wsj.com/us [9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F25%2F14&x=0&y=0
[9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F25%2F14&x=0&y=0
[9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F25%2F14&x=0&y=0
[9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F24%2F10&x=0&y=0
[9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F24%2F10&x=0&y=0
[9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F24%2F10&x=0&y=0
[9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F26%2F05&x=0&y=0
[9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F26%2F05&x=0&y=0
[9/25/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F26%2F05&x=0&y=0
[9/25/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[9/25/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[9/25/15]
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Tuesday, September 29, 2015
Economic Update for the week of September 29th, 2015
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