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WEEKLY QUOTE
“Reprove thy friend
privately; commend him publicly.”
- Solon
WEEKLY TIP
Jointly owned assets
typically avoid probate when one owner dies. With regard to asset transfer,
joint ownership can result in a savings of money and time for a surviving
spouse.
WEEKLY RIDDLE
Take away the first four
letters of this word, and you have something to sleep on. Replace the last three
letters with an L, and you have a month of the year. What is this seven-letter
word?
Last week’s riddle:
A rope
ladder dangles over the railing of a boat docked at a lake, its bottom end 4
inches above the water. One day, the lake waters rise 4 inches. How high off the
water is the rope ladder now?
Last week’s answer:
4 inches.
The boat rises with the water, so the gap between water and rope ladder doesn’t
change.
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December 7,
2016
JOBS REPORT
SHOWS UNEMPLOYMENT AT 4.6%
America’s jobless rate
fell to a nine-year low in November as companies added 178,000 net new jobs. The
U-6 rate (including the underemployed decreased) 0.2% to 9.3%. There were some
negatives: yearly wage growth moderated to 2.5%, and the labor force
participation rate ticked down to 62.7%, in part because of baby boomer
retirements.1
STRONG
CONSUMER CONFIDENCE, SPENDING, GDP
As November ended, the
Conference Board’s monthly consumer confidence index rose 6.3 points to a mark
of 107.1. In October, personal spending increased 0.3%, according to the Census
Bureau, with personal incomes up 0.6%. The Bureau of Economic Analysis revised
third quarter growth upward by 0.3% to 3.2% last
week.2
PENDING HOME
SALES, HOME PRICES SEE GAINS
The S&P/Case-Shiller
20-city home price index showed a 5.5% annualized gain in its September edition,
improved from 5.2% in August. Housing contract activity rose another 0.1% in
October, according to the National Association of
Realtors.2
MANUFACTURING
INDEX IMPROVES
The Institute for Supply
Management’s November purchasing manager index for the factory
sector rose 1.3 points to 53.2, indicating another month of expansion. Analysts
polled by MarketWatch had projected a reading of
52.5.2
OIL PRICES
SKYROCKET; S&P 500 DECLINES
News of OPEC’s oncoming
production cut drove WTI crude to its best week since January 2009. Futures
settled Friday at $51.68 on the NYMEX, up 12.2% in five days
(including a Thursday-Friday leap of almost 13%). Only the Dow Jones Industrial
Average advanced among key Wall Street indices last week, rising 0.10% to
19,170.42. The S&P 500 dipped 0.97% on the week to 2,191.95; the Nasdaq
Composite, 2.65% to 5,255.65; and the Russell 2000, 2.45% to
1,314.25.3,4
THIS
WEEK:
November’s ISM non-manufacturing PMI appears Monday. Earnings from Analogic,
AutoZone, Bob Evans Farms, Dave & Buster’s, Michaels Stores, and Toll
Brothers arrive Tuesday, plus a report on October factory orders. Wednesday’s
earnings parade includes results from Casey’s General Stores, Costco, H&R
Block, and Lululemon Athletica. A new initial jobless claims report comes out on
Thursday, along with earnings from Broadcom, Dell, Hovnanian, and Toro. Friday
brings the initial December consumer sentiment index from the University of
Michigan.
Sources: wsj.com, bigcharts.com, treasury.gov - 12/2/164,5,6,7
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. The information herein
has been derived from sources believed to be accurate. Please note - investing
involves risk, and past performance is no guarantee of future results.
Investments will fluctuate and when redeemed may be worth more or less than when
originally invested. 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 market indices discussed are unmanaged and are not
illustrative of any particular investment. Indices do not incur management fees,
costs and expenses, and cannot be invested into directly. All economic and
performance data is historical and not indicative of future results. The Dow
Jones Industrial Average is a price-weighted index of 30 actively traded
blue-chip stocks. The NASDAQ Composite Index is a 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 a market-cap weighted index composed of the common stocks of 500 leading
companies in leading industries of the U.S. economy. 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. MarketingPro, Inc. is not affiliated with any
person or firm that may be providing this information to you. 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 -
businessinsider.com/us-jobs-report-november-2016-2016-12 [12/2/16]
2 -
marketwatch.com/economy-politics/calendars/economic [12/2/16]
3 -
marketwatch.com/story/oil-prices-edge-lower-as-investors-assess-what-opec-oil-deal-can-deliver-2016-12-02/
[12/2/16]
4 -
markets.wsj.com/us [12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F2%2F15&x=0&y=0
[12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F2%2F15&x=0&y=0
[12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F2%2F15&x=0&y=0
[12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F2%2F11&x=0&y=0
[12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F2%2F11&x=0&y=0
[12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F2%2F11&x=0&y=0
[12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F1%2F06&x=0&y=0
[12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F1%2F06&x=0&y=0
[12/2/16]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F1%2F06&x=0&y=0
[12/2/16]
6 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[12/2/16]
7
-
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[12/2/16]
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Wednesday, December 7, 2016
Economic update for the week of December 7th, 2016
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