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WEEKLY QUOTE
“What we anticipate
seldom occurs; what we least expected generally happens.”
- Benjamin
Disraeli
WEEKLY TIP
When you own a small
business, paying estimated taxes is a given. If you are a new business owner,
think about creating a dedicated bank account to which you can direct a monthly
amount for that purpose.
WEEKLY RIDDLE
What goes with you
wherever you go, often demands an answer, and never asks you a
question?
Last week’s riddle:
At the sound
of it, you may dream, dance, laugh, weep or even stamp your feet. What is
it?
Last week’s answer:
Music.
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June 21,
2016
RETAIL SALES
RISE another HALF-PERCENT
This healthy May
increase follows the 1.3% gain recorded by the
Department of Commerce for April, and offers more evidence that the economy has
rebounded from a sluggish first quarter. Core retail sales (minus auto and
gasoline purchases) were up 0.4% last month.1
INFLATION
CONTINUES TO FIRM
According to the Bureau
of Labor Statistics, consumer prices rose 0.2% in May while producer prices
advanced 0.4%. While a drop in food prices tempered the gain in the Consumer
Price Index, the core CPI (which strips out energy and food costs) was up 2.2%
in a year, exceeding the Federal Reserve’s annualized inflation target. The May
wholesale inflation jump still left the Producer Price Index up just 0.8%
year-over-year; plunging energy costs have held the PPI in
check.1,2
CONSTRUCTION
ACTIVITY MODERATES IN MAY
Building permits and
housing starts both increased 4.9% in April, but Census Bureau data reveals no
such leaps last month. Groundbreaking declined 0.3% in May, while the issuance
of permits increased by 0.7%.1
INVESTORS
ANXIOUSLY AWAIT U.K. VOTE
As expected, the Federal
Reserve refrained from an interest rate move last week; Wall Street was more
concerned about the potential of a Brexit. The S&P 500 fell 1.19% in five
days to 2,071.22, and the other major indices fell with it. The Nasdaq gave back
1.92% on its way to a Friday close of 4,800.34, while the Dow slipped 1.07% on
the week to 17,675.16. Gold is on a 3-week winning streak: it settled at
$1,294.80 on the COMEX Friday, rising 1.5% in five days. WTI crude fell 2.2% for
the week, closing Friday at $47.98 on the NYMEX.3
THIS
WEEK: Nothing
major is scheduled for Monday. Tuesday, Federal Reserve chair Janet Yellen
begins two days of testimony in the Senate on monetary policy; earnings news
emerges from Adobe Systems, CarMax, Carnival, FedEx, KB Home, La-Z-Boy, and
Lennar. Wednesday, Wall Street looks at May existing home sales numbers and
earnings from Barnes & Noble, Bed Bath & Beyond, Red Hat, and Winnebago.
On Thursday, the United Kingdom holds its referendum on whether or not to stay
in the European Union; investors will also consider May new home sales figures,
the federal government’s latest initial jobless claims report, and quarterly
results from Sonic. Friday offers the final June University of Michigan consumer
sentiment index, a Census Bureau report on May hard goods orders and earnings
from Finish Line.
Sources: wsj.com, bigcharts.com, treasury.gov - 6/17/164,5,6,7
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 -
investing.com/economic-calendar/ [6/17/16]
2 -
usnews.com/news/articles/2016-06-16/fed-unlikely-to-be-wowed-by-modest-inflation-uptick
[6/16/16]
3 -
cnbc.com/2016/06/17/us-markets.html [6/17/16]
4 -
markets.wsj.com/us [6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F17%2F15&x=0&y=0
[6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F17%2F15&x=0&y=0
[6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F17%2F15&x=0&y=0
[6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F17%2F11&x=0&y=0
[6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F17%2F11&x=0&y=0
[6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F17%2F11&x=0&y=0
[6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F16%2F06&x=0&y=0
[6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F16%2F06&x=0&y=0
[6/17/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F16%2F06&x=0&y=0
[6/17/16]
6 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/17/16]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/17/16]
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Tuesday, June 21, 2016
Economic update for the week of June 21st, 2016
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