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WEEKLY QUOTE
“Everybody
needs beauty as well as bread, places to play in and pray in, where nature
may heal and give strength to body and soul alike.”
- John Muir
WEEKLY TIP
Your
will, trust, and powers of attorney should be reviewed regularly, once a year
if possible. Time can alter priorities and intentions.
WEEKLY RIDDLE
What
three letters can you use to spell out a word meaning “enemy?”
Last week’s riddle:
What can you find precisely in the middle of Miami?
Last week’s answer:
The letter A.
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August 9,
2016
TWO STRAIGHT
MONTHS OF IMPRESSIVE JOB GAINS
The
Department of Labor provided Wall Street and Main Street with some great news
Friday. Last month, the population of Americans with full-time jobs rose by
255,000. About 70,000 of the workers hired in July found employment within
the professional and business services sectors. In addition, the huge June
hiring gain was revised slightly upward to 292,000. As labor force
participation increased to 62.8% in July, the headline jobless rate stayed at
4.9% while the broader U-6 measure of unemployment came in at 9.7%; the
average wage rose 0.3%. Across the past year, the economy has added an
average of 206,000 jobs a month.1
SOLID CONSUMER SPENDING
IN JUNE
Households boosted their spending by 0.4% in the sixth month
of 2016, according to a new report from the Bureau of Economic Analysis. The
June advance matched the gain in May. Personal incomes also rose 0.2% for the
second month in a row.2
GROWTH MODERATES
IN FACTORY, SERVICE SECTORS
Both purchasing manager indices at the Institute for Supply
Management retreated in July. ISM’s manufacturing PMI fell 0.6 points to
52.6; its non-manufacturing PMI dipped a full point to 55.5. The numbers
still pointed to healthy industry expansion.3
STOCKS PUSH HIGHER
The jobs report encouraged the bulls Friday, sending the Dow
Jones Industrial Average and Nasdaq Composite up more than 1% and lifting all
three major U.S. indices for the week. Across August 1-5, the Dow rose 0.60%
to 18,543.53; the Nasdaq, 1.14% to 5,221.12; the S&P 500, 0.43% to
2,182.87. Oil closed the week at $41.98 on the NYMEX; gold, at $1,341.40 on
the COMEX.4
THIS WEEK: Monday, Wall Street peruses earnings news
from Allergan, Chimerix, Dean Foods, Hertz Global, News Corp., Tyson Foods, and Weibo. Tuesday’s earnings parade
offers news from Coach, Container Store, Exelon, Monster Worldwide, Norwegian
Cruise Line, Red Robin, Scripps Networks, Walt Disney Co., and Yelp. Wednesday’s
earnings include results from Aramark, Michael Kors, Ralph Lauren, Shake
Shack, and Wendy’s. Thursday, a new initial claims report emerges along with
earnings from Alibaba Group, Dillard’s, Kohl’s, Macy’s, Nordstrom, Planet
Fitness, and Ruby Tuesday. July retail sales figures appear on Friday, plus the
initial August University of Michigan consumer sentiment index, the July
Producer Price Index, and earnings from JCPenney.
Sources: wsj.com, bigcharts.com, treasury.gov - 8/5/164,5,6,7
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 - zacks.com/stock/news/227064/bls-reports-robust-july-jobs-255k-49-unemployment
[8/5/16]
2 - investing.com/economic-calendar/ [8/5/16]
3 -
instituteforsupplymanagement.org/ismreport/nonmfgrob.cfm [8/3/16]
4 - markets.wsj.com/us [8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F5%2F15&x=0&y=0
[8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F5%2F15&x=0&y=0
[8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F5%2F15&x=0&y=0
[8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F5%2F11&x=0&y=0
[8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F5%2F11&x=0&y=0
[8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F5%2F11&x=0&y=0
[8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F4%2F06&x=0&y=0
[8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F4%2F06&x=0&y=0
[8/5/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F4%2F06&x=0&y=0
[8/5/16]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[8/5/16]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[8/5/16]
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Tuesday, August 9, 2016
Economic Update for the week of August 9th, 2016
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