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WEEKLY QUOTE
“You
gain strength, courage and confidence by every experience in which you really
stop to look fear in the face.”
- Eleanor Roosevelt
WEEKLY TIP
If you want to leave some of your IRA to your
children, a Roth IRA conversion may be a great idea: the IRA they inherit
could realize further tax-free growth.
WEEKLY RIDDLE
When
you lack me, you feel a sort of gloom. When you use me, it is time you
consume. What am I?
Last week’s riddle:
Karen parks her car beside a hotel and instantly recognizes that
she is bankrupt. How does she know this?
Last week’s answer:
She is
playing Monopoly.
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February 9,
2016
UNEMPLOYMENT
NOW BELOW 5%
Although the economy added just 151,000 jobs in January,
the Labor Department’s latest employment report also showed a reduction in the
headline jobless rate to 4.9%. The broader U-6 measure of underemployment remained
at 9.9%. Monthly payroll gains have averaged 231,000 since November; in fact,
the 3-month, 6-month, and 12-month job creation averages are now all above
200,000.1
CONSUMER
SPENDING FLATTENED IN DECEMBER
Personal incomes rose 0.3% in the final month of 2015, but
the Commerce Department recorded no corresponding personal spending advance.
The good news? The personal savings rate reached 5.5%, a 3-year high.2
MANUFACTURING SLOWDOWN CONTINUES
The
Institute for Supply Management’s purchasing manager index for the factory
sector came in at 48.2 for January, 0.2 points higher than the previous
reading, but still well under the 50 mark. U.S. manufacturing has now
contracted for four straight months. ISM’s non-manufacturing PMI dipped 2.3
points in January, but still showed expansion at 53.5.2,3
OIL PRICES & STOCK INDICES DECLINE
Oil closed Friday at $30.89 on the NYMEX, down 8.1% in
five days. That and earnings disappointments lead to sizable weekly descents:
the Dow lost 1.59% to 16,204.83; the Nasdaq, 5.44% to 4,363.14; the S&P
500, 3.10% to 1,880.02.4,5
THIS WEEK: Hasbro, Lennox
International, Loews, 21st Century Fox, and Yelp announce earnings Monday.
Tuesday, earnings news arrives from Akamai, Baidu, Coca-Cola, CVS Health, Goodyear,
Ingersoll-Rand, Martin Marietta, NCR, Panera, Spirit Airlines, Viacom, Walt
Disney Co., WellCare, Wendy’s, Western Union, and Wyndham Worldwide. Federal
Reserve chair Janet Yellen begins two days of testimony on monetary policy in
Congress Wednesday; investors will keep an eye on that and earnings from
Aramark, Cisco, Expedia, Humana, iRobot, LifeLock, LoJack, O'Reilly
Automotive, Omega Healthcare, Owens Corning, Tesla Motors, Time Warner,
Twitter, Whole Foods, and Zynga. Thursday brings earnings from Activision
Blizzard, Avon, Coca-Cola Enterprises, Diebold, Groupon, Huntsman, Invacare, Kellogg,
Molson Coors, Pandora, Peabody Energy, Penske, PepsiCo, TripAdvisor,
Verisign, Vonage, and W.R. Grace, in addition to initial claims figures.
Friday, the University of Michigan’s initial February consumer sentiment
index appears, plus January retail sales figures and earnings from ITT and
Red Robin.
Sources: wsj.com, bigcharts.com, treasury.gov - 2/5/166,7,8,9
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 - forbes.com/sites/samanthasharf/2016/02/05/mixed-jobs-report-151000-jobs-added-in-january-unemployment-rate-down-to-4-9/
[2/5/16]
2 - nytimes.com/2016/02/02/business/economy/factory-activity-falls-for-4th-straight-month-but-construction-edges-up.html
[2/2/16]
3 - briefing.com/investor/calendars/economic/2016/02/01-05 [2/5/16]
4 - marketwatch.com/story/crude-prices-steady-as-a-weak-dollar-lends-support-2016-02-05/
[2/5/16]
5 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[2/5/16]
6 - markets.wsj.com/us [2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F5%2F15&x=0&y=0
[2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F5%2F15&x=0&y=0
[2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F5%2F15&x=0&y=0
[2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F4%2F11&x=0&y=0
[2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F4%2F11&x=0&y=0
[2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F4%2F11&x=0&y=0
[2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F6%2F06&x=0&y=0
[2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F6%2F06&x=0&y=0
[2/5/16]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F6%2F06&x=0&y=0
[2/5/16]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[2/5/16]
9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/5/16]
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Tuesday, February 9, 2016
Economic Update for the week of February 9th, 2016
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