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WEEKLY QUOTE
“Life
is not so important as the duties of life.”
- John Randolph
WEEKLY TIP
Does
your will or estate plan take your pets into account? If you have no heirs,
or if no heirs or family members want the responsibility of caring for them if
you die, provisions should be made on their behalf.
WEEKLY RIDDLE
Marshall
is reading a book in his basement when the lights go out. He keeps on reading,
even without any light sources. How is he able to keep reading?
Last week’s riddle:
It can brighten any room, yet not take up any space. What is it?
Last week’s answer:
Light.
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March 22, 2017
FED HIKES, LEAVES
2017 FORECAST UNCHANGED
As expected, the Federal Reserve raised the target range for
the federal funds rate by a quarter-point last week to 0.75-1.00%. “The
simple message is, the economy is doing well,” Fed chair Janet Yellen explained
to the media following the move. The central bank’s dot-plot table still
projects two more rate increases during the balance of 2017, with three rate
hikes envisioned for both 2018 and 2019.1
INFLATION
PRESSURE EASEs
February’s Consumer Price Index displayed only a 0.1% gain,
compared to 0.6% in January. Core consumer prices moved 0.2% higher. The
small February increase still left the headline CPI up 2.7% in the past 12
months. The Producer Price Index rose 0.3% for February, putting its yearly
advance at 2.2%.2
SMALL GAINS IN
SENTIMENT, RETAIL SALES
The initial March University of Michigan consumer sentiment
index came in at 97.6 Friday, 1.3 points above its final February mark. Thanks
mainly to “improved personal finances” among households, the index’s current
economic conditions component hit a 17-year high. A Census Bureau report
showed retail purchases up 0.1% in February, 0.2% with car and gasoline
buying factored out.2,3
CALM WEEK SEES
SMALL STOCK MARKET ADVANCE
Wall
Street saw the March 15 Federal Reserve policy decision as an affirmation of
the economy’s health; equities investors were not at all riled. Ending the week at 5,901.00, the Nasdaq Composite gained 0.67% in
five days. The S&P 500 rose 0.24% in the same period to settle at
2,378.25 Friday, while the Dow Jones Industrial Average added just 0.06%
across five trading sessions on the way to a Friday close of 20,914.62.
Losing 3.26% in five days, the CBOE Volatility Index ended the week at 11.28.4
THIS WEEK: Monday, nothing major is scheduled. Earnings
announcements from FedEx, General Mills, Lands’ End, Nike, and Steelcase appear
Tuesday. Wednesday, Wall Street reviews February existing home sales and
earnings reports from Cintas, Five Below, Perry Ellis, and Winnebago. Thursday
morning, Federal Reserve chair Janet Yellen delivers a keynote address at a
Fed conference in Washington, D.C.; in addition, investors will eye the
latest initial claims report, February’s new home sales report, and earnings news
from Accenture, GameStop, KB Home, Micron Technology, Shoe Carnival, and
Sportsman’s Warehouse. Friday offers a report on February hard goods orders and
Q4 results from Finish Line.
Sources: wsj.com, bigcharts.com, treasury.gov - 3/17/174,5,6,7
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 -
marketwatch.com/story/fed-raises-interest-rates-by-a-quarter-point-sees-two-move-moves-this-year-2017-03-15
[3/15/17]
2 - investing.com/economic-calendar/
[3/17/17]
3 - sca.isr.umich.edu/
[3/17/17]
4 - markets.wsj.com/us
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F17%2F16&x=0&y=0
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F17%2F16&x=0&y=0
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F17%2F16&x=0&y=0
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F16%2F12&x=0&y=0
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F16%2F12&x=0&y=0
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F16%2F12&x=0&y=0
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F16%2F07&x=0&y=0
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F16%2F07&x=0&y=0
[3/17/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F16%2F07&x=0&y=0
[3/17/17]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/17/17]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/17/17]
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Wednesday, March 22, 2017
Economic Update for the week of March 22nd, 2017
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