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WEEKLY QUOTE
“Set up as an ideal the
facing of reality as honestly and as cheerfully as possible.”
- Karl
Menninger
WEEKLY TIP
Credit reporting
agencies may lower your credit score if you rely heavily on installment-type
accounts or loans linked to appliance or home goods retailers, or unsecured
personal loans from consumer credit companies. You should pay off such debt as
quickly as possible.
WEEKLY RIDDLE
At times I’m high and
low, I never fly but I can rise, and I can creep between your toes. What am
I?
Last week’s riddle:
How can you
make a sofa, a motorcycle and a tent liquid?
Last week’s answer:
Sell
them.
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July 14,
2016
A REASSURING
JOBS REPORT
June was the best month
for hiring since October. Employers added 287,000 new jobs to their payrolls
last month; analysts polled by Bloomberg forecast a gain of 180,000. The headline unemployment rate rose to 4.9% in the Department of
Labor’s latest report, a reflection of more Americans looking for work. The
broader U-6 rate, including the underemployed, fell a tenth of a point to
9.6%.1
STRONG SERVICE
SECTOR GROWTH IN JUNE
Rising 3.6 points, the
Institute for Supply Management’s non-manufacturing purchasing manager index
came in at a June mark of 56.5. The index was last above 56 in November.
Referencing the past relationship between the index and the overall health of
the economy in its summary, ISM noted that a 56.5 reading for its services PMI
has corresponded with annualized GDP growth of about
3.0%.2
A 6-WEEK
Winning STREAK FOR GOLD
The yellow metal rose
another 1.5% last week, closing at a COMEX price of $1,358.40. Silver has also
advanced for six consecutive weeks on the COMEX; it closed at $20.10 Friday,
rising 2.6% in four days.3
S&P 500
CLOSES JUST SHY OF ALL-TIME HIGH
Settling at 2,129.90
Friday, the index briefly surpassed its May 2015 record close of 2,130.82 in
intraday trading. The index gained 1.27% during the abbreviated market week. The
Dow Jones Industrial Average added on 1.08% in four days to a July 8 close of
18,146.74, while the Nasdaq Composite improved 1.92% to end the week at
4,956.76. The past four trading days were not good for WTI crude – futures lost
7.3% in that span to a NYMEX close of $45.41
Friday.4,5
THIS
WEEK: Earnings
season starts Monday with Alcoa reporting Q2 results. Tuesday offers earnings
news from Fastenal and Rocky Mountain Chocolate Factory. Wednesday brings a new
Federal Reserve Beige Book and earnings from CSX, Kinder Morgan, and Yum!
Brands. Thursday, the June PPI and the latest initial jobless claims report
complement earnings from BlackRock, Cintas, Delta Air Lines, JPMorgan Chase, and
Progressive. On Friday, investors will interpret the June CPI, June industrial
output and retail sales numbers, the initial July University of Michigan
consumer sentiment index and earnings from Citigroup, U.S. Bancorp, and Wells
Fargo.
Sources: wsj.com, bigcharts.com, treasury.gov - 7/8/166,7,8,9
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
-
csmonitor.com/Business/new-economy/2016/0708/Jobs-report-A-relief-after-disappointing-May-politically-turbulent-June/
[7/8/16]
2 -
instituteforsupplymanagement.org/ismreport/nonmfgrob.cfm [7/6/16]
3 -
marketwatch.com/story/gold-futures-notch-sixth-straight-weekly-gain-2016-07-08
[7/8/16]
4 -
cnbc.com/2016/07/08/us-markets.html [7/8/16]
5 -
google.com/finance?q=INDEXSP:.INX&ei=zRSAV-CVGIWaiQLo_bLYCg
[7/8/16]
6 -
markets.wsj.com/us [7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F8%2F15&x=0&y=0
[7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F8%2F15&x=0&y=0
[7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F8%2F15&x=0&y=0
[7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F8%2F11&x=0&y=0
[7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F8%2F11&x=0&y=0
[7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F8%2F11&x=0&y=0
[7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F7%2F06&x=0&y=0
[7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F7%2F06&x=0&y=0
[7/8/16]
7 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F7%2F06&x=0&y=0
[7/8/16]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[7/8/16]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[7/8/16]
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Thursday, July 14, 2016
Economic Update for the week of July 14th, 2016
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