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WEEKLY QUOTE
“First
say to yourself what you would be; and then do what you have to do.”
- Epictetus
WEEKLY TIP
Taking
money out of your retirement account with the goal of using it to pay for
your child’s college expenses is a bad idea. Student loans do burden a young
adult, but you could end up delaying your retirement because of this move.
WEEKLY RIDDLE
In
what year did Christmas and New Year’s Day happen in the same year?
Last week’s 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 answer:
A temper.
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December 1, 2015
CONSUMER
CONFIDENCE TRENDS DOWN
November saw the Conference Board consumer confidence
index plummet. It dropped 8.7 points from its revised October mark of 99.1 to
90.4; economists polled by Briefing.com assumed it would rise slightly to
99.6. The CB attributed November’s poor reading (the lowest since September
2014) to declining expectations of job and wage growth in the next few
months. November’s final University of Michigan consumer sentiment index also
declined to 91.3 from its preliminary reading of 93.1.1,2
CONSUMER SPENDING NUDGES UP
Personal
spending improved just 0.1% in October, but the Commerce Department’s latest
report also revealed that personal incomes rose by 0.4% last month. In news
related to consumer spending, October saw a 3.0% gain in capital goods orders
(0.5% minus transportation orders), and the Bureau of Economic Analysis put
Q3 GDP at 2.1% in its second estimate, 0.6% higher than in its first.1
A LEAP FOR NEW HOME SALES IN OCTOBER
New
home buying increased 10.7% last month according to the Census Bureau,
resulting in a 4.9% annualized gain. Resales declined 3.4% in October, the
National Association of Realtors noted, citing declining inventory as a major
factor.3
AN ADVANCE FOR THE BIG THREE
The Nasdaq led the way among the major U.S. equity indices
last week, rising 1.06% to a November 27 close of 5,127.53. Next was the Dow,
gaining 0.37% in the shortened trading week to settle at 17,798.49 Friday.
The S&P 500 eked out an 0.04% advance from Monday through Friday to close
the week at 2,090.11.4
THIS WEEK: NAR’s
October pending home sales index appears Monday. Tuesday sees the release of
the November ISM manufacturing PMI and Q3 earnings from Bob Evans. Wednesday,
Federal Reserve chair Janet Yellen speaks on the outlook for the economy in
Washington, D.C.; the Fed releases a new Beige Book, a new ADP employment
change report comes out, and Wall Street also considers earnings from
Aeropostale and American Eagle Outfitters. Thursday, Janet Yellen testifies
on the economic outlook in the Senate; October’s Challenger job-cut report,
November’s ISM services PMI, a new initial claims report and earnings from
Barnes & Noble, Dollar General, Express, Five Below, Kroger, Land’s End,
Sears Holdings and Toro also arrive. The Labor Department’s November jobs
report arrives Friday, plus earnings from Big Lots! and Hovnanian.
Sources: wsj.com, bigcharts.com, treasury.gov - 11/27/155,6,7,8,9
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.
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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 - briefing.com/investor/calendars/economic/2015/11/23-27
[11/27/15]
2 - usatoday.com/story/money/business/2015/11/24/consumer-confidence-job-market-economy/76306492/
[11/24/15]
3 - zacks.com/stock/news/199216/new-home-sales-rebound-in-october-housing-back-on-track
[11/26/15]
4 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[11/27/15]
5 - markets.wsj.com/us [11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F31%2F14&x=0&y=0
[11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F28%2F14&x=0&y=0
[11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F28%2F14&x=0&y=0
[11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F28%2F14&x=0&y=0
[11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F26%2F10&x=0&y=0
[11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F26%2F10&x=0&y=0
[11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F28%2F05&x=0&y=0
[11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F28%2F05&x=0&y=0
[11/27/15]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F28%2F05&x=0&y=0
[11/27/15]
7 - finance.yahoo.com/q/hp?s=^DJI&a=10&b=26&c=2010&d=10&e=26&f=2010&g=d
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/27/15]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/27/15]
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Tuesday, December 1, 2015
Economic update for the week of December 1st, 2015
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