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WEEKLY QUOTE
“I
have found that if you love life, life will love you back.”
- Arthur Rubinstein
WEEKLY TIP
Spending
three or four dollars a day on energy drinks and other “superfoods” may be unwarranted.
A balanced diet could provide you with all the vitamins and nutrients you
need, for less money and with less hype.
WEEKLY RIDDLE
I
am a word of four letters. I begin and end with the same letter. Take my
beginning and ending letters away and I am a friendly greeting rather than a
place. What word am I?
Last week’s 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 answer:
He is blind, and the book is
printed in Braille.
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March 29, 2017
NEW HOME SALES
GO ONE WAY, RESALES ANOTHER
Rising 6.1% in February, new home sales reached a 7-month peak.
The Census Bureau said that this gain occurred with just 5.4 months of
inventory on the market, less than half that available in 2006 during the
height of the last residential real estate boom. In contrast, the National
Association of Realtors reported a 3.7% retreat for existing home sales last
month, with increasing mortgage rates, high prices, and limited supply as major
factors.1
A GAIN FOR DURABLE
GOODS ORDERS
A Census Bureau report noted a 1.7% improvement in February,
following January’s 2.3% advance. Core hard goods orders did retreat 0.1%
last month.2
LIGHT SWEET CRUDE
BREAKS 4-DAY LOSING STREAK
Friday’s small gain in the price of oil marked the first
daily advance for the commodity since March 17. Across March 20-24, crude prices
declined 1.7% as news broke of record stockpiles; it was the third losing
week for oil in the past month. WTI crude settled at a NYMEX price of $47.97
Friday.3
VOLATILITY RETURNS, MAJOR INDICES DECLINE
Investors
were less confident last week than they had been in some time.
Across five trading days, the Dow Jones Industrial Average fell 1.52% to
20,596.72; the Nasdaq Composite, 1.22% to 5,828.74; and the S&P 500,
1.44% to 2,343.98. The CBOE VIX gained 14.89% for the week, which still left
it down 7.69% for the year.4
THIS WEEK: Monday, nothing major is scheduled. Tuesday,
Federal Reserve chair Janet Yellen speaks at an economic development
conference in Washington, D.C., the Conference Board releases its March
consumer confidence index, the January S&P/Case-Shiller home price index
arrives, and in addition, Wall Street will look at earnings from Carnival,
Darden Restaurants, and Sonic. On Wednesday, U.K. prime minister Theresa May is
expected to officially trigger Article 50 of the Lisbon Treaty, formally
beginning the Brexit; stateside, the NAR issues its February pending home
sales report, complementing earnings news from Lululemon Athletica and
Paychex. Thursday brings both a new initial jobless claims report and the
third estimate of Q4 growth from the federal government, along with Q4
results from Dell Technologies. Friday offers the University of Michigan’s final
March consumer sentiment index, February consumer spending figures, and the
latest PCE price index.
Sources: wsj.com, bigcharts.com, treasury.gov - 3/24/174,5,6,7
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 - foxbusiness.com/markets/2017/03/23/u-s-jobless-claims-unexpectedly-rise-labor-market-still-strong.html
[3/23/17]
2 - thestreet.com/story/14057593/1/stock-futures-edge-higher-as-health-care-vote-drama-continues.html
[3/24/17]
3 - marketwatch.com/story/crude-oil-breaks-4-day-losing-streak-after-saudis-slash-exports-to-us-2017-03-24/
[3/24/17]
4 - markets.wsj.com/us
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F24%2F16&x=0&y=0
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F24%2F16&x=0&y=0
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F24%2F16&x=0&y=0
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F23%2F12&x=0&y=0
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F23%2F12&x=0&y=0
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F23%2F12&x=0&y=0
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F23%2F07&x=0&y=0
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F23%2F07&x=0&y=0
[3/24/17]
5 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F23%2F07&x=0&y=0
[3/24/17]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/24/17]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/24/17]
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Wednesday, March 29, 2017
Economic Update for the week of March 29th, 2017
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