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WEEKLY QUOTE
“You cannot escape the
responsibility of tomorrow by evading it today.”
- Abraham
Lincoln
WEEKLY TIP
Some of the financial
choices you make in the years just before and after your retirement may be
unalterable. In recognition of that, an objective review of your retirement plan
is a must as you approach your sixties.
WEEKLY RIDDLE
If you push me to
extremes, I can rage and boil, but an hour later, I may be silent and stiff.
What am I?
Last week’s riddle:
What four
U.S. states have names that start and end with the same vowel?
Last week’s answer:
Alabama,
Alaska, Arizona, and Ohio.
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May 29,
2017
CONSUMER
SENTIMENT DECLINES JUST A BIT
Ending May at a mark of
97.1, the University of Michigan’s consumer sentiment index fell 0.6 points from
its preliminary reading for the month. Economists polled by MarketWatch had
forecast the gauge to remain at 97.7.1
FEWER HOMES
WERE BOUGHT IN APRIL
Both new and existing
home sales tapered off last month. The National Association of Realtors said
that resales fell 2.3% for April, while the Census Bureau announced an 11.4%
retreat for new home purchases. While demand was high, tight supply reduced the
number of buyers.2
FED MINUTES:
Q1 SLUMP “LIKELY TO BE TRANSITORY”
With the Federal Open
Market Committee expressing that exact opinion in the record of its May 2-3
meeting, investors saw little that would delay the central bank from raising
interest rates in June. Still, the minutes sounded a cautious note. Fed
policymakers “generally judged that it would be prudent to await additional
evidence,” confirming that the winter economic slowdown was short lived prior to
tightening further. The Bureau of Economic Analysis did revise its Q1 GDP
estimate up to 1.2% last week, compared with an initial evaluation of
0.7%.1,3
MORE RECORD
HIGHS FOR NASDAQ, S&P 500
A great week for stocks
saw gains of 2.08% for the Nasdaq Composite, 1.43% for the S&P 500, and
1.32% for the Dow Jones Industrial Average. Friday’s settlements: Dow,
21,080.28; S&P, 2,415.82; Nasdaq, 6,210.19. Friday’s S&P and Nasdaq
closes were historic peaks for both indices. The S&P advanced for a seventh
straight trading session to end the week, something it had not done since
February. The Nasdaq 100 ended last week up 19.01%
YTD.4,5
THIS
WEEK:
Monday is Memorial Day – U.S. stock and bond markets will be closed. Tuesday,
the April personal spending report and PCE price index appear. A new Federal
Reserve Beige Book and the NAR’s April pending home sales report surface
Wednesday, plus earnings from Analog Devices, Hewlett-Packard Enterprise,
Michael Kors, and Palo Alto Networks. Thursday is heavy on jobs data, as
investors look at the ADP payroll and Challenger job-cut reports and the latest
initial claims numbers; ISM’s May factory PMI also arrives, along with earnings
from Boot Barn, Broadcom, Dollar General, Express, Five Below, and Lululemon
Athletica. Friday, the Department of Labor issues its May employment report, and
Hovnanian announces earnings.
Sources: wsj.com, bigcharts.com, treasury.gov - 5/26/175,6,7,8
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
- marketwatch.com/economy-politics/calendars/economic [5/26/17]
2 -
foxbusiness.com/features/2017/05/24/existing-home-sales-slip-as-housing-shortage-weighs-on-activity-update.html
[5/24/17]
3 -
nytimes.com/2017/05/24/business/economy/fed-interest-rates-minutes.html
[5/24/17]
4 -
reuters.com/article/us-usa-stocks-idUSKBN18M18R [5/26/17]
5 -
markets.wsj.com/us [5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F26%2F16&x=0&y=0
[5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F26%2F16&x=0&y=0
[5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F26%2F16&x=0&y=0
[5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F25%2F12&x=0&y=0
[5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F25%2F12&x=0&y=0
[5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F25%2F12&x=0&y=0
[5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F25%2F07&x=0&y=0
[5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F25%2F07&x=0&y=0
[5/26/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F25%2F07&x=0&y=0
[5/26/17]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[5/26/17]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[5/26/17]
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Wednesday, May 31, 2017
Economic Update for the week of May 29th, 2017
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