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WEEKLY QUOTE
“Education is the
ability to listen to almost anything without losing your temper or your
self-confidence.”
- Robert Frost
WEEKLY TIP
A National Council on
Aging website, benefitscheckup.org, has links to many federal, state, and local
programs that help retirees save money on medicines, utilities, health care
services, and more. Visit the site to see if you are eligible for them.
WEEKLY RIDDLE
Michelle threw a
softball 30 feet, and it didn’t hit anything and it came back to her. What did
she do to make this happen?
Last week’s riddle:
They may be
sharp and flat, but they may soothe you rather than hurt you. What are
they?
Last week’s answer:
Musical
notes.
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March 8,
2017
YELLEn: RATE
MOVE MAY HAPPEN THIS MONTH
In Chicago Friday,
Federal Reserve chair Janet Yellen said that if hiring and inflation indicators
continue to meet the central bank’s expectations, an interest rate hike “would
likely be appropriate” at its March policy meeting. She also noted that, barring
unforeseen events, the pace of tightening in the near term “likely will not be
as slow as it was during the past couple of years.” After these statements, the
Fed futures market put the chance of a March rate increase at
82%.1
RISING
CONFIDENCE, TEMPERED SPENDING
At a mark of 114.8, the
Conference Board consumer confidence index reached its highest point in 14½
years in February. Just 20.3% of Americans found jobs “hard to get,” the
smallest percentage in eight years. A Department of Commerce report, however,
showed only average consumer spending in January: personal spending rose just
0.2% in that month, and it actually slipped 0.3% when adjusted for inflation.
Personal incomes grew by 0.4% in the first month of the
year.2,3
FACTORIES HUM
IN FEBRUARY
The Institute for Supply
Management’s manufacturing purchasing manager index rose 1.7 points to 57.7 last
month. That was its best reading since August 2014. ISM’s services gauge also
improved; it moved north 1.1 points in February to
57.6.3,4
HOME VALUES
RISE NEARLY 6% in 12 MONTHS
December’s
S&P/Case-Shiller 20-city house price index showed a 5.8% yearly gain in home
appreciation. In the November edition, the advance was
5.6%.4
ANOTHER DOW
MILESTONE
The Dow Industrials
closed above 21,000 for the first time last week, adding 0.88%
across five days to settle at 21,005.71 Friday. The S&P 500 rose 0.67% for
the week to 2,383,12; the Nasdaq Composite, 0.44% to
5,870.75.5
THIS
WEEK:
Monday brings earnings from Analogic, Casey’s General Stores, and Thor
Industries. Tuesday, investors consider quarterly results from Alamo Group,
Dick’s Sporting Goods, H&R Block, Navistar, and Urban Outfitters. Wednesday
sees the release of ADP’s February payrolls report and earnings from Bob Evans
Farms, Hovnanian, Stein Mart, and Valspar. The latest initial unemployment
claims figures appear Thursday, plus earnings from El Pollo Loco, Real Goods
Solar, Smith Micro, and Verifone. Friday offers the February jobs report from
the Department of Labor and Q4 results from Kirkland’s.
Sources: wsj.com, bigcharts.com, treasury.gov - 3/3/175,6,7,8
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 -
usatoday.com/story/money/2017/03/03/yellen-signals-likely-rate-hike-march-meeting/98657322/
[3/3/17]
2 -
marketwatch.com/story/consumer-confidence-hits-15-year-high-2017-02-24
[2/28/17]
3 -
cnbc.com/2017/03/01/us-personal-income-jan-2017.html [3/1/17]
4 -
marketwatch.com/economy-politics/calendars/economic [3/3/17]
5 -
markets.wsj.com/us [3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F3%2F16&x=0&y=0
[3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F3%2F16&x=0&y=0
[3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F3%2F16&x=0&y=0
[3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F2%2F12&x=0&y=0
[3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F2%2F12&x=0&y=0
[3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F2%2F12&x=0&y=0
[3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F2%2F07&x=0&y=0
[3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F2%2F07&x=0&y=0
[3/3/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F2%2F07&x=0&y=0
[3/3/17]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/3/17]
8
-
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/3/17]
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Wednesday, March 8, 2017
Economic Update for the week of March 8th, 2017
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