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WEEKLY QUOTE
“Far
and away the best prize that life offers is the chance to work hard at work
worth doing.”
- Theodore Roosevelt
WEEKLY TIP
As
you plan for retirement, view Social Security benefits as a supplement to
your retirement savings. You do not want to have to “rely” on Social Security
once retired.
WEEKLY RIDDLE
You
cannot see me. I am inside everyone. I only emerge in anger. The shorter I am,
the hotter I am. What am I?
Last week’s riddle:
5 letters have I, I start in E and end in Y. Take away my first,
third and last letter and the 2 letters left will sound the same as when you
started with me. I am a 5-letter word; what word am I?
Last week’s answer:
Empty.
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November 24,
2015
FED HINTS AT A
DECEMBER RATE HIKE
Minutes from the October Federal Open Market Committee
meeting were released last Wednesday, and they revealed that “most” of the 10
FOMC members thought that conditions for a rate hike “could well be met by
the time of the next meeting.” Another passage noted that “it may well become
appropriate to initiate the normalization process” at the December 15-16 Fed
policy meeting. The minutes also stated that “economic conditions may, for
some time, warrant keeping the target federal funds rate below levels the
Committee views as normal in the longer run.”1
CONSUMER PRICES ROSE 0.2% IN OCTOBER
This
advance in the headline CPI contrasted with retreats in August and September.
The core CPI also rose 0.2% last month. In annualized terms, the headline CPI
increased 0.2% in the 12 months ending in October, the core CPI 1.9%.2
OIL CLOSES UNDER $4o
Light
crude settled at just $39.39 a barrel on the NYMEX Friday. That was the
lowest close seen since late August. Oil has sunk 10.35% so far in November.
On the COMEX, gold ended the week at $1,075.90 per ounce, silver at $14.09
per ounce.3
FALL RALLY RESUMES
Investors seemed relieved rather than bothered by the
prospect of higher interest rates before the end of the year. The Dow, Nasdaq
and S&P 500 had great weeks, posting respective 5-day gains of 3.35%,
3.59% and 3.27%. When things settled Friday, the Dow ended the week at
17,823.81, the Nasdaq at 5,104.92 and the S&P at 2,089.17.4
THIS WEEK: On Monday,
Wall Street looks at October existing home sales and earnings from GameStop,
Palo Alto Networks and Tyson Foods. Tuesday offers the Conference Board’s
November consumer confidence index, the second estimate of Q3 GDP from the
BEA, the S&P/Case-Shiller home price index for September and earnings
from Campbell Soup, Chico’s, Cracker Barrel, Dollar Tree, DSW, Fred’s, GUESS?,
Hormel Foods, HP, Tiffany and TiVo. Wednesday sees the release of the
University of Michigan’s final November consumer sentiment index, the latest
initial claims numbers, reports on October new home sales, capital goods
orders and personal spending, and Q3 results from Deere. Thursday is
Thanksgiving Day, so U.S. stock and bond markets will be closed. Wall Street
will have a shortened trading day on Friday (the NYSE and NASDAQ will close
at 1:00pm EST) with no major economic or earnings reports scheduled.
Sources: wsj.com, bigcharts.com, treasury.gov - 11/20/155,6,7,8
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 - foxbusiness.com/economy-policy/2015/11/18/federal-reserve-minutes/
[11/18/15]
2 - cnbc.com/2015/11/17/us-consumer-price-index-oct-2015.html
[11/20/15]
3 - money.cnn.com/data/commodities/ [11/20/15]
4 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[11/20/15]
5 - markets.wsj.com/us [11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F31%2F14&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F20%2F14&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F20%2F14&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F20%2F14&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F19%2F10&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F19%2F10&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F19%2F10&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F21%2F05&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F21%2F05&x=0&y=0
[11/20/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F21%2F05&x=0&y=0
[11/20/15]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/20/15]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/20/15]
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Tuesday, November 24, 2015
Economic Update for the week of November 24th, 2015
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