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WEEKLY QUOTE
“Before you are a
leader, success is all about growing yourself. When you become a leader, success
is all about growing others.”
- Jack
Welch
WEEKLY TIP
Canceling an old credit
card may be a bad idea if you have a good credit history. Part of that history
is based on long you have been borrowing, and if that old card has a good
history attached to it, it may be wiser to keep it.
WEEKLY RIDDLE
You put me on a table.
You cut me, yet you will not eat me. What am I?
Last week’s riddle:
Why is B the
coolest letter within the alphabet?
Last week’s answer:
It
is surrounded by A-C.
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March 29,
2016
MIXED NEWS ON
HOME SALES
New home buying
increased 2.0% in February, with all of the gain attributable to a remarkable
38.5% jump in sales in the West (a region which had witnessed a 32.7% January
plunge in new home purchases). In contrast to this Census Bureau data, the
National Association of Realtors noted a 7.1% February decline in existing home
sales, with tightening inventory a factor. Last month, the median sale price of
a new home was $301,400, up 2.6% in a year; the median existing home sale price
was $210,800, up 4.4% from 12 months ago.1
THE ECONOMY
EXPANDED 1.4% IN Q4
Last quarter’s GDP was
just revised upward by the Bureau of Economic Analysis. In its previous
estimate, the BEA had measured Q4 growth at 1.0%. Analysts polled by
Briefing.com had expected no change for the third and final
estimate.2
HARD GOODS
ORDERS DECLINE
Overall orders for
capital goods dipped 2.8% for February, according to the Census Bureau. With
transportation orders removed, the number looked better; the pullback in core
durable goods orders was just 1.0%. In January, overall durable goods orders
increased 4.2% while core orders rose 1.2%.2
AN EXTENDED
RALLY ENDS
Hawkish comments from
some Federal Reserve officials held stocks and commodities in check last week,
contributing to the end of a 5-week win streak. Across four trading days, the
S&P 500 retreated 0.67% to 2,035.94; the Nasdaq Composite, 0.46% to
4,773.50; and the Dow Jones Industrial Average, 0.49% to 17,515.73. Gold had its
worst week in more than five months, giving back 2.6% to settle at $1,221.60 on
the COMEX Friday. Oil ended the week at $39.46 on the
NYMEX.3
THIS
WEEK: On
Monday, Wall Street will consider February consumer spending and pending home
sales reports.
Janet
Yellen speaks on monetary policy Tuesday in New York, and, in addition to her
statements, investors will look at the Conference Board’s new consumer
confidence survey, January’s S&P/Case-Shiller home price index, and earnings
from Dave & Buster’s, Lennar, and Sonic. Wednesday offers the March ADP
employment change report and earnings from Lululemon Athletica and Paychex.
Thursday, the March Challenger job-cut report and new initial claims figures
arrive. The Labor Department’s latest employment report, the final March
consumer sentiment report from the University of Michigan, the March ISM
manufacturing PMI, and China’s latest manufacturing PMIs all appear Friday.
Sources: wsj.com, bigcharts.com, treasury.gov - 3/25/164,5,6,7
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
- latimes.com/business/la-fi-new-home-sales-20160323-story.html
[3/23/16]
2 -
briefing.com/investor/calendars/economic/2016/03/21-25 [3/25/16]
3 -
cnbc.com/2016/03/24/us-markets.html [3/24/16]
4 -
markets.wsj.com/us [3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F25%2F15&x=0&y=0
[3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F25%2F15&x=0&y=0
[3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F25%2F15&x=0&y=0
[3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F25%2F11&x=0&y=0
[3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F25%2F11&x=0&y=0
[3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F25%2F11&x=0&y=0
[3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F24%2F06&x=0&y=0
[3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F24%2F06&x=0&y=0
[3/25/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F24%2F06&x=0&y=0
[3/25/16]
6 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/25/16]
7
-
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/25/16]
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Tuesday, March 29, 2016
Economic update for the week of March 29th, 2016
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