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WEEKLY QUOTE
“A
tough lesson in life that one has to learn is that not everybody wishes you
well.”
- Dan Rather
WEEKLY TIP
Simplify
things for your tax preparer or CPA by organizing your financial records into
three categories: income statements, expenses and deductions, and investments.
WEEKLY RIDDLE
You
drop a coin into a bottle through its opening. Then, you push a cork into
that same bottle opening to seal the opening. How do you get the coin out of
the bottle without breaking the bottle or taking out the cork?
Last week’s riddle:
I go back and forth constantly, but I never go forward. What am I?
Last week’s answer:
A pendulum.
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March 8,
2016
242,000 NEW
JOBS CREATED IN FEBRUARY
Hiring picked up in America last month. In reporting this
sizable net job gain in the second month of the year, the Labor Department
also revised December and January hiring totals upward by a total of 30,000.
That means payrolls have expanded by an average of 228,000 hires over the
past three months. The headline unemployment rate remained at 4.9% last month
while the U-6 rate including the underemployed fell to 9.7%. A year ago, the
U-6 rate was at 11.0%.1
ISM INDICES BEAT
EXPECTATIONS
The Institute for Supply Management’s manufacturing PMI
rose 1.3 points in February to 49.5; its non-manufacturing PMI showed a February
reading of 53.4. While the latest number on the manufacturing PMI still indicated
contraction, both indices surpassed the forecasts of economists polled by
MarketWatch, who expected a 48.5 reading for the manufacturing PMI and a 53.0
reading for the service sector PMI.2
PENDING HOME SALES DECLINED IN JANUARY
For
17 consecutive months, the housing contract activity index, maintained by the
National Association of Realtors, has shown a year-over-year gain. January
saw the index fall 2.5%, reducing the annualized advance for pending home sales
to only 1.4%. Analysts surveyed by MarketWatch thought the index would rise
0.5% in January.2,3
DJIA REGAINS 17,000 LEVEL
Blue chips rose for a third consecutive week. The Dow Jones
Industrial Average settled at a 2-month peak of 17,006.77 Friday, up 2.20% in
five days. The S&P 500 and Nasdaq Composite respectively advanced 2.67%
and 2.76% for the week; the S&P closed at 1,999.99 Friday, the NASDAQ at
4,717.02. All three major indices left correction territory Friday. Oil
prices were also up for a third straight week, a first since last May. A
9.58% weekly NYMEX advance took WTI crude to a Friday close of $35.92.4
THIS WEEK: The slate
of releases is rather light. Monday features earnings from Casey’s General
Stores, Del Taco, Shake Shack, and Urban Outfitters. On Tuesday, Dick’s
Sporting Goods and Navistar present earnings. Wednesday, investors assess earnings
from Express, Hovnanian, Rosetta Stone, Smart & Final, and Square. Thursday
will offer earnings announcements from Bon-Ton Stores, Dollar General, El
Pollo Loco, Jamba, Marcus & Millichap, Stein Mart, and VeriFone in
addition to the latest initial jobless claims figures. Nothing major is
scheduled for Friday.
Sources: wsj.com, bigcharts.com, treasury.gov - 3/4/165,6,7,8
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 - forbes.com/sites/samanthasharf/2016/03/04/jobs-report-242000-jobs-added-in-february-unemployment-rate-steady-at-4-9/
[3/4/16]
2 - marketwatch.com/economy-politics/calendars/economic [3/4/16]
3 - cnbc.com/2016/02/29/pending-home-sales-fell-in-january.html
[2/29/16]
4 - cnbc.com/2016/03/04/us-markets.html [3/4/16]
5 - markets.wsj.com/us [3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F4%2F15&x=0&y=0
[3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F4%2F15&x=0&y=0
[3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F4%2F15&x=0&y=0
[3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F4%2F11&x=0&y=0
[3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F4%2F11&x=0&y=0
[3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F4%2F11&x=0&y=0
[3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F3%2F06&x=0&y=0
[3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F3%2F06&x=0&y=0
[3/4/16]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F3%2F06&x=0&y=0
[3/4/16]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/4/16]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/4/16]
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Tuesday, March 8, 2016
Economic Update for the week of March 8th, 2016
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