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WEEKLY QUOTE
“Our
greatest glory is not in never falling, but in getting up every time we do.”
- Confucius
WEEKLY TIP
Some
pension plans let retirees choose between smaller lifelong income payments or
a large lump sum. If one or both spouses are in line to receive pensions, a
couple should at least explore some of the possibilities for lump sum investment.
WEEKLY RIDDLE
What
jumps higher than a building?
Last week’s riddle:
How can you take three toothpicks and make them into the number
nine?
Last week’s answer:
Use three toothpicks, placing one
straight and two across one another, to make the Roman numeral nine (IX).
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October 5,
2016
NO ADVANCE IN CONSUMER
SPENDING
Personal spending was flat in August even as personal
incomes rose 0.2%. These numbers from the Department of Commerce fell short
of expectations: economists polled by MarketWatch had forecast a 0.2% gain in
both categories. In other news linked to consumer spending, the federal
government revised second-quarter GDP up to 1.4% in its third estimate; it
had previously put Q2 growth at 1.1%.1
HOUSEHOLD CONFIDENCE
IMPROVES
September brought a big jump in the Conference Board’s
closely watched consumer confidence index, which rose 3.0 points to 104.1.
The University of Michigan’s consumer sentiment index ended September at
91.2, up from 89.8 at the end of August; the main factor in that gain was an
improved outlook among higher-income households.1,2
New Home SAles DIP
7.6%
This
housing indicator tends to be very volatile, and this August retreat follows a
13.8% July advance. The median new home price was down 5.3% in August from a
year earlier, the Census Bureau noted. Looking at other real estate data, the
July edition of the 20-city S&P/Case-Shiller home price index showed a
5.0% annual increase in existing home values, ticking down from 5.1% in June;
the National Association of Realtors said that pending home sales fell 2.4%
in August.1,3
MINOR GAINS IN A WEEK OF MAJOR UPS &
DOWNS
The last week of September saw the three major U.S. equity indices
advance. The Dow Jones Industrial Average rose 0.26%; the S&P 500 gained
0.17%; and the Nasdaq Composite added 0.12%. The September 30 settlements:
Dow, 18,308.15; S&P, 2,168.27; Nasdaq, 5,312.00.4
THIS WEEK: Monday offers ISM’s September manufacturing
PMI and quarterly results from The Container Store. Tuesday, Wall Street
considers earnings from Darden Restaurants and Micron Technology. On Wednesday,
ISM releases its September service sector PMI; ADP issues its September
payrolls report; data on August factory orders appears; and Constellation
Brands, Monsanto, and Yum! Brands announce earnings. In addition to a new
initial jobless claims report, Thursday brings the latest Challenger job-cut
data and Q3 results from Ruby Tuesday. Friday, the focus turns to the
Department of Labor’s September jobs report.
Sources: wsj.com, bigcharts.com, treasury.gov - 9/30/164,5,6,7
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 - marketwatch.com/economy-politics/calendars/economic [9/30/16]
2 - sca.isr.umich.edu
[9/30/16]
3 - latimes.com/business/la-fi-new-home-sales-20160926-snap-story.html
[9/26/16]
4 -
markets.wsj.com/us [9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F30%2F15&x=0&y=0
[9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F30%2F15&x=0&y=0
[9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F30%2F15&x=0&y=0
[9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F30%2F11&x=0&y=0
[9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F30%2F11&x=0&y=0
[9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F30%2F11&x=0&y=0
[9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F29%2F06&x=0&y=0
[9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F29%2F06&x=0&y=0
[9/30/16]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F29%2F06&x=0&y=0
[9/30/16]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[9/30/16]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[9/30/16]
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Wednesday, October 5, 2016
Economic Update for the week of Oct. 5th, 2016
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