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WEEKLY QUOTE
“True friends are those
who really know you but love you anyway.”
- Edna
Buchanan
WEEKLY TIP
Own a business? Think
about having an accountant look at your books several times a year. Having a
professional opinion on your books can be valuable at any time, not just tax
time.
WEEKLY RIDDLE
Three women each have
two daughters.
They are all having
dinner at a cafe.
The café has but seven
chairs. All the women are seated. How is this possible?
Last week’s riddle:
You have 7
onions in a bag, and you will distribute them to 7 people. As you finish handing
them out, there is still 1 onion left in the bag. How is this possible?
Last week’s answer:
As
you hand out the last onion, you leave it inside the bag.
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April 12,
2016
FED: APRIL
MIGHT BE TOO SOON FOR A RATE HIKE
That was the message
Wall Street gleaned from the Federal Reserve’s March policy meeting minutes.
Several Fed officials, the minutes stated, felt that “raising the target range
as soon as April would signal a sense of urgency” that would be untimely. Another passage noted broad support for “a lower path of the
federal funds rate relative to December” (in other words, a shallower ascent for
the benchmark interest rate across 2016). Still, some officials saw merit in an
April rate move should economic indicators show significant upside.1
PACE OF GROWTH
PICKS UP IN THE SERVICE SECTOR
In March, the Institute
for Supply Management’s non-manufacturing PMI rose 1.1 points to 54.5. It was
the first gain for that PMI in five months. The index had a reading of 56 or
higher during most of 2015.2
OIL JUMPs 8%
IN A WEEK; GOLD, SILVER ALSO RISE
West Texas Intermediate
crude settled at $39.72 a barrel Friday, its weekly ascent aided by a 6.6%
Friday gain helped by an announcement of declining rig count. Gasoline futures
were up 4.4% for the week. April 4-8 also represented the best week for gold and
silver since mid-March (in fact, it was silver’s finest week in over a month).
Gold advanced 1.7% in five days on the COMEX, closing Friday at $1,243.80 an
ounce. Silver futures rose 2.0% in the same interval, settling Friday in New
York at $15.38 per ounce.3,4
STOCKS LOSE
SOME GROUND
A rocky week ended with
5-day losses for each of the major indices: the S&P 500 fell 1.21% to
2,047.60; the Nasdaq Composite, 1.30% to 4,850.69; and the Dow Jones Industrial
Average, 1.21% to 17,576.96. Even so, all three benchmarks were up at least 3.4%
month-over-month at Friday’s closing bell.5
THIS
WEEK: Earnings
season starts Monday as Alcoa presents Q1 results. On Tuesday, earnings emerge
from CSX Corporation and Fastenal. Wednesday, investors consider March retail
sales numbers, a new Fed Beige Book, the March PPI, and Q1 results from JPMorgan
Chase and Pier 1. New initial claims figures and the March CPI arrive Thursday,
plus earnings news from Bank of America, BlackRock, Delta Air Lines,
Progressive, and Wells Fargo. Friday offers the preliminary edition of the
University of Michigan’s April consumer sentiment index, a report on March
industrial output and earnings announcements from Charles Schwab, Citigroup,
Regions Financial, and Seagate Technology.
Sources: wsj.com, bigcharts.com, treasury.gov - 4/8/166,7,8,9
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
- tinyurl.com/jsu4hrx [4/7/16]
2 -
businessinsider.com/ism-non-manufacturing-and-markit-services-pmi-2016-4
[4/5/16]
3 -
marketwatch.com/story/oil-rebounds-but-doha-meeting-remains-a-cloud-on-the-horizon-2016-04-08
[4/8/16]
4 -
marketwatch.com/story/gold-snubbed-for-riskier-assets-clings-to-weekly-gain-2016-04-08
[4/8/16]
5 -
markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
[4/8/16]
6 -
markets.wsj.com/us [4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F8%2F15&x=0&y=0
[4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F8%2F15&x=0&y=0
[4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F8%2F15&x=0&y=0
[4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F8%2F11&x=0&y=0
[4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F8%2F11&x=0&y=0
[4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F8%2F11&x=0&y=0
[4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F7%2F06&x=0&y=0
[4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F7%2F06&x=0&y=0
[4/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F7%2F06&x=0&y=0
[4/8/16]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[4/8/16]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[4/8/16]
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Tuesday, April 12, 2016
Economic update for the week of April 12th, 2016
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