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WEEKLY QUOTE
“We
are made to persist. That’s how we find out who we are.”
- Tobias Wolff
WEEKLY TIP
Once
a year, you should look at your insurance policies (life, disability, any
others) to see if your coverage has any weak spots.
WEEKLY RIDDLE
I
go back and forth constantly, but I never go forward. What am I?
Last week’s riddle:
Everywhere on earth I am found, I should not make you frown, I
will always bring you down, but I will never send you up. What am I?
Last week’s answer:
Gravity.
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March 1,
2016
GOOD NEWS ABOUT
CONSUMER SPENDING, Q4 GDP
Personal spending and personal wages both increased 0.5%
in January, according to the Bureau of Economic Analysis. The BEA also
revised Q4 growth up to 1.0% from its initial estimate of 0.7%. As a footnote
to all this, capital goods orders jumped 4.9% in January.1
CONSUMER
CONFIDENCE WANES
The Conference Board’s much-watched monthly index tumbled
5.6 points in February to a 7-month low of 92.2. Rather than a significant
monthly fall, the University of Michigan’s consumer sentiment index took only
a small one: it declined 0.3 points from its final January mark to a final
February reading of 91.7.1,2
HOME PRICES, EXISTING HOME SALES ADVANCE
Despite
severe weather in many parts of the nation, existing home sales rose 0.4% in
January, the National Association of Realtors announced. The Census Bureau reported
a 9.2% fall for new home sales in January, countering an 8.2% ascent in
December. The December edition of the 20-city S&P/Case-Shiller home price
index showed no monthly advance, but the index rose 5.7% in 2015.1
SOLID GAINS FOR THE MAJOR INDICES
During the past five trading days, investors saw the
S&P 500 rise 1.58% to 1,948.05. The Dow Jones Industrial Average and
Nasdaq Composite mirrored that weekly gain, improving 1.51% and 1.91%,
respectively, on the way to Friday closes of 16,639.97 and 4,590.47. Like
stocks, oil advanced for a second straight week, rising 3.2% in five days and
settling at $32.78 on the NYMEX Friday.3,4
THIS WEEK: Monday offers
NAR’s latest pending home sales index and earnings from Acadia Pharmaceuticals,
Global Partners, Hertz Global, Magellan Health, and Tribune Media. ISM’s
January factory PMI and China’s latest manufacturing PMI appear Tuesday, plus
earnings from AutoZone, Bob Evans, Dick’s Sporting Goods, Dollar Tree, Progressive,
and TiVo. Wednesday, investors assess the January ADP employment change
report and a new Federal Reserve Beige Book, along with earnings
announcements from Abercrombie & Fitch, American Eagle Outfitters, Costco,
and Weibo. Wall Street looks at the January Challenger job-cut report, a new
initial claims report, and ISM’s service sector PMI on Thursday, along with earnings
from Barnes & Noble, Broadcom, Burlington Stores, Diamond Foods, H&R
Block, Kroger Co., Planet Fitness, Smith & Wesson, and Wingstop. Friday,
the Labor Department presents its January employment report, complementing Q4
results from Big Lots and Staples.
Sources: wsj.com, bigcharts.com, treasury.gov - 2/26/165,6,7,8
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 - tradingeconomics.com/united-states/calendar [2/26/16]
2 - tinyurl.com/zc93as5 [2/26/16]
3 - markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[2/26/16]
4 - marketwatch.com/story/oil-prices-remain-under-pressure-as-traders-stick-to-bearish-mood-2016-02-26/
[2/26/16]
5 - markets.wsj.com/us [2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F26%2F15&x=0&y=0
[2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F26%2F15&x=0&y=0
[2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F26%2F15&x=0&y=0
[2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F25%2F11&x=0&y=0
[2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F25%2F11&x=0&y=0
[2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F25%2F11&x=0&y=0
[2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F27%2F06&x=0&y=0
[2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F27%2F06&x=0&y=0
[2/26/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F27%2F06&x=0&y=0
[2/26/16]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[2/26/16]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/26/16]
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Tuesday, March 1, 2016
Economic Update for the week of March 1st, 2016
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