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WEEKLY QUOTE
“Every
individual matters. Every individual has a role to play. Every individual
makes a difference.”
- Jane Goodall
WEEKLY TIP
Millennials
who create a budget can get a clear picture of their cash flow and income and
thereby figure out exactly how much they can afford to contribute to retirement
savings accounts.
WEEKLY RIDDLE
I
have an eye, yet cannot see the ground around me. I take time to generate,
yet in seconds I can dissipate. What am I?
Last week’s riddle:
Tom tells Phillip that a faded, worn ten-dollar bill is worth
more than a newer one. In what way is he correct?
Last week’s answer:
A ten-dollar bill will always be
worth more than a newer one (a one-dollar bill).
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July 5 ,
2017
HOUSEHOLD
EARNINGS OUTPACE SPENDING
According to newly released Department of Commerce data, personal
incomes improved 0.4% in May, but personal spending advanced just 0.1% after a
0.4% gain in April. Core consumer prices (minus food and energy costs) rose
only 1.4% during the 12 months ending in May.1,2,3
WERE CONSUMERS
MORE CONFIDENT IN JUNE?
By the looks of the University of Michigan’s monthly household
sentiment index, no – that gauge fell 2.0 points to a mark of 95.1. On the
other hand, the Conference Board’s consumer confidence index rose 1.3 points
to a reading of 118.9.2,3
PENDING HOME
SALES WEAKEN
A National Association of Realtors report showed housing
contract activity declining by 0.8% in May. This follows a 1.7% dip for
pending home sales in April.3
First-Quarter GDP
REVISED HIGHER
Apparently, the opening three months of 2017 were not as
economically sluggish as first thought. The Bureau of Economic Analysis
released its third, concluding estimate of Q1 growth Thursday, modifying the
number again to 1.4% from the previous revision to 1.2%.3
TECH SHARES
SELL OFF AGAIN, STOCKS RETREAT
Volatility resurfaced in the tech and health care sectors
last week, and as institutional investors reduced their holdings in firms
within those industries, the effect rippled through all three major equity
indices. For the week, the S&P 500 fell 0.61% to a Friday settlement of
2,423.41. The Nasdaq Composite slumped 1.99% to 6,140.42 by Friday, while the
Dow Jones Industrial Average finished the week 0.21% lower at 21,349.63. Even
so, Wall Street can look back on a fine first half for stocks. The S&P
500 just recorded its best 6-month gain since 2013.4,5
THIS WEEK: Wall Street takes a half-day on Monday,
with stock trading wrapping up at 1:00pm EST; during the abbreviated session,
investors will consider the June ISM factory PMI. Stock and bond markets are
closed Tuesday for the July 4th holiday. Minutes from the June Federal
Reserve policy meeting arrive Wednesday, plus May factory orders data. Thursday,
the latest Challenger job-cut report and ADP payrolls report complement new
initial claims figures and ISM’s June service sector PMI. On Friday, the Department
of Labor issues its June employment report, and the Federal Reserve Board hands
its semi-annual monetary policy report to Congress.
Sources: wsj.com, bigcharts.com, treasury.gov - 6/30/175,6,7,8
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 - cnbc.com/2017/06/30/us-personal-income-may-2017.html
[6/30/17]
2 - sca.isr.umich.edu
[6/30/17]
3 - marketwatch.com/economy-politics/calendars/economic
[6/30/17]
4 - marketwatch.com/story/stocks-end-mostly-higher-to-book-best-half-year-gains-in-years-2017-06-30
[6/30/17]
5 - markets.wsj.com/us
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F30%2F16&x=0&y=0
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F30%2F16&x=0&y=0
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F30%2F16&x=0&y=0
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F29%2F12&x=0&y=0
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F29%2F12&x=0&y=0
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F29%2F12&x=0&y=0
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F29%2F07&x=0&y=0
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F29%2F07&x=0&y=0
[6/30/17]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F29%2F07&x=0&y=0
[6/30/17]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/30/17]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/30/17]
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Wednesday, July 5, 2017
Economic Update for the week of July 5th, 2017
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