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WEEKLY QUOTE
“True
originality consists not in a new manner but in a new vision.”
- Edith Wharton
WEEKLY TIP
If
you are divorced and currently single, but the marriage lasted 10 years or
longer, you may be eligible to collect spousal benefits from Social Security
after you and your former spouse both turn 62 – even if they’ve remarried.
Visit ssa.gov to learn more.
WEEKLY RIDDLE
What
has hundreds or even thousands of ears but hears absolutely nothing?
Last week’s riddle:
What wintry thing flies as it is born, lies when alive, and runs
when dead?
Last week’s answer:
A snowflake.
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October 13,
2015
SEPTEMBER FED
MINUTES SHOW CAUTION
Minutes from last month’s Federal Open Market Committee
meeting provided a bit more insight into the Federal Reserve’s decision not
to tighten monetary policy in September. Fed officials opted to “wait for
additional information” before making a move, noting that “recent global
economic and financial developments may have increased the downside risks to
economic activity somewhat.” Even so, most FOMC members thought it
appropriate to raise rates “before the end of the year”, believing that
slowing economies elsewhere had not “materially altered” the economic outlook
for America.1
ISM SERVICES INDEX FALLS SHORT OF
EXPECTATIONS
According
to the Institute for Supply Management, the U.S. service sector grew at a
solid pace last month – the September reading for ISM’s non-manufacturing
purchasing manager index was 56.9. Still, that was down from 59.0 in August.
Analysts polled by Briefing.com expected a September reading of 58.0.2
WTI CRUDE, GOLD BOTH RALLY
Oil
closed at $49.63 a barrel on the NYMEX Friday, gaining 9.0% in five days. A
1.0% advance on Friday took gold to a Friday COMEX settlement of $1,155.90 an
ounce – its highest close since August. For the week, the yellow metal gained
1.7%.3
DOVISH FED STANCE HELPS STOCKS JUMP
The bulls certainly came back to Wall Street last week:
the S&P 500 had its best five days in some time, rising 3.26% to a Friday
close of 2,014.89. Across October 5-9, tech shares rallied to send the Nasdaq
2.61% higher to 4,830.47. The Dow rose 3.72% to 17,084.49 in that time frame.4
THIS WEEK: Monday is
Columbus Day, a federal holiday; the stock market will be open, but the bond
market will be closed. On Tuesday, eBay, Fastenal, Intel, Johnson &
Johnson, JPMorgan Chase and Kinder Morgan all report earnings. Wednesday
offers earnings from Bank of America, BlackRock, Delta Air Lines, Netflix and
Wells Fargo, along with a new Federal Reserve Beige Book, September’s PPI and
September retail sales numbers. The latest initial claims report and the September
CPI come out Thursday, plus earnings from BB&T, Blackstone Group, Charles
Schwab, Citigroup, First Republic, Goldman Sachs, Mattel, Philip Morris,
Schlumberger, U.S. Bancorp, UnitedHealth, WD-40 and Winnebago. On Friday, earnings
from Comerica, General Electric, Honeywell International, Progressive and
SunTrust Banks arrive, plus October’s initial University of Michigan consumer
sentiment index and a report on September industrial output.
Sources: wsj.com, bigcharts.com, treasury.gov - 10/9/155,6,7,8
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 - cnbc.com/2015/10/08/fed-minutes-members-worried-about-slower-global-growth.html
[10/8/15]
2 - briefing.com/investor/calendars/economic/2015/10/05-09
[10/9/15]
3 - 247wallst.com/investing/2015/10/09/the-4-stocks-that-lifted-the-djia-on-friday-5/
[10/9/15]
4 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[10/9/15]
5 - markets.wsj.com/us [10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F9%2F14&x=0&y=0
[10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F9%2F14&x=0&y=0
[10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F9%2F14&x=0&y=0
[10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F8%2F10&x=0&y=0
[10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F8%2F10&x=0&y=0
[10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F8%2F10&x=0&y=0
[10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F10%2F05&x=0&y=0
[10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F10%2F05&x=0&y=0
[10/9/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F10%2F05&x=0&y=0
[10/9/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[10/9/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[10/9/15]
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Tuesday, October 13, 2015
Economic Update for the week of October 13th, 2015
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