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WEEKLY QUOTE
“Character
is much easier kept than recovered.”
- Thomas Paine
WEEKLY TIP
Maintain
an emergency fund in retirement. It can help you in a crisis. It can be
tapped if income taxes from your RMDs turn out to be higher than anticipated.
It could also help you avoid drawing down your tax-advantaged accounts to
meet unplanned expenses.
WEEKLY RIDDLE
What
wintry thing flies as it is born, lies when alive, and runs when dead?
Last week’s 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 answer:
A mailbox.
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October 6,
2015
142,000 NEW
JOBS CREATED IN SEPTEMBER
Is a global slowdown impacting the U.S. economy? The
latest Labor Department jobs report seemed to say yes. Hiring last month fell
far short of the 200,000 total projected by economists in a MarketWatch
survey. Moreover, job gains across July and August were revised down by
59,000. There was some good news – the U-6
(underemployment) rate declined 0.3% to 10.0%. The headline jobless rate stayed
at 5.1%. After the report’s release, just 2% of futures investors on the
Chicago Mercantile Exchange felt the Federal Reserve would raise interest
rates in October; only 29% thought the Fed would do so in December.1,2
CONSUMER SPENDING, CONFIDENCE BOTH RISE
Good
news from the Commerce Department – August brought an 0.4% rise in personal
spending and an 0.3% rise in personal wages. A day later, another encouraging
number arrived from Main Street – the Conference Board’s consumer confidence
index rose 1.5 points in September to 103.0.2
ISM MANUFACTURING PMI SINKS TO 50.2
As
50 is the Institute for Supply Management’s line between sector growth and
contraction, the September reading for this globally watched factory index
was troubling. In another disconcerting development, the Commerce Department
said factory orders declined 1.7% in August.2
PENDING HOME SALES INDEX SLIPS
The
National Association of Realtors announced a 1.4% reduction in the number of
home sale contracts in September. That followed a 0.5% increase in August.
July’s edition of the S&P/Case-Shiller home price index showed an overall
5.0% yearly advance, ticking up from 4.9% in the June edition.2
INVESTORS SEE LESS CAUSE FOR FED TO
TIGHTEN
The subpar job report spurred a rally, and so the S&P
500 ended up 1.04% higher for the week, closing Friday at 1,951.36. The Dow
and Nasdaq settled Friday at 16,472.37 and 4,707.78 after respective weekly
gains of 0.97% and 0.45%.3
THIS WEEK: ISM’s
service sector PMI appears Monday, along with quarterly results from The
Container Store. PepsiCo and Yum! Brands report earnings on Tuesday. Wednesday
offers earnings from Constellation Brands and Monsanto. Minutes from the
Federal Reserve’s September policy meeting arrive Thursday, along with initial
jobless claims numbers and earnings from Alcoa, Domino’s and Ruby Tuesday. Nothing
major is slated for Friday.
Sources: wsj.com, bigcharts.com, treasury.gov - 10/2/154,5,6,7
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 - forbes.com/sites/samanthasharf/2015/10/02/jobs-report-u-s-added-142000-jobs-in-september-unemployment-rate-steady-at-5-1/
[10/2/15]
2 - marketwatch.com/economy-politics/calendars/economic
[10/2/15]
3 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[10/2/15]
4 - markets.wsj.com/us [10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F2%2F14&x=0&y=0
[10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F2%2F14&x=0&y=0
[10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F2%2F14&x=0&y=0
[10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F1%2F10&x=0&y=0
[10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F1%2F10&x=0&y=0
[10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F1%2F10&x=0&y=0
[10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F3%2F05&x=0&y=0
[10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F3%2F05&x=0&y=0
[10/2/15]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F3%2F05&x=0&y=0
[10/2/15]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[10/2/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[10/2/15]
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Tuesday, October 6, 2015
Economic Update for the week of October 6th, 2015
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