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WEEKLY QUOTE
“The
ordinary acts we practice every day at home are of more importance to the
soul than their simplicity might suggest.”
- Thomas Moore
WEEKLY TIP
If
you are past 50 and you worry that your retirement savings are insufficient,
the best financial response may be to work longer. Even working part time for
a few more years could lessen the need to draw down your retirement money.
WEEKLY RIDDLE
A
Saab travels along an avenue at 50mph; a Subaru, at 30mph. The Subaru passes
by the Saab, without speeding up to do so. How is this possible?
Last week’s riddle:
Christine wants to know how far she can hike into a rugged
badlands that is 6 miles wide. How far can she possibly go into the badlands?
Last week’s answer:
3 miles. If she hikes in any
further, she will actually begin to hike out.
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October 18,
2017
RETAIL SALES,
SENTIMENT NUMBERS IMPRESS
Two economic indicators stood out last week. Retail
purchases rose 1.6% during September as households and businesses replaced cars
and trucks damaged in hurricanes. This was the best monthly advance recorded
by the Department of Commerce since March 2015, and the gain was 1.0% even with
auto buying removed. The University of Michigan’s initial October consumer
sentiment index displayed a reading of 101.1, which was nearly a 14-year
high. Economists polled by Briefing.com had forecast just a half-point improvement
to 95.6.1,2
GAS PRICES
DRIVE UP INFLATION
A 13.1% spike in retail gasoline costs accounted for 75%
of the 0.5% September increase in the Consumer Price Index. Not since January
has the CPI risen so much in a month. Still, the core CPI was up just 0.2%. In
yearly terms, headline inflation now stands at 2.2%; core inflation, at 1.7%.3
SOCIAL
SECURITY BENEFITS TO INCREASE 2% IN 2018
Friday, the Social Security Administration announced the
largest cost-of-living adjustment to retirement benefits since 2012. Next year,
Social Security payments will get a 2.0% boost, meaning the average retired
Social Security recipient will receive $27.40 more per month.4
MINOR ADVANCES
BY MAJOR INDICES
From October 9-13, that was the story on Wall Street. The Dow
30 rose 0.43% to 22,871.72, the Nasdaq Composite added 0.24% to 6,605.80, and
the S&P 500 gained 0.15% to 2,553.17. The CBOE VIX ended the week down at
9.66.5
THIS WEEK: Netflix presents Q3 results on Monday. On Tuesday,
Comerica, CSX, Goldman Sachs, W.W. Grainger, Harley-Davidson, Johnson &
Johnson, and UnitedHealth offer earnings news. Earnings emerge from Abbott
Labs, Alcoa, American Express, and U.S. Bancorp Wednesday, and Wall Street
will also review September housing starts and building permits and a new
Federal Reserve Beige Book. On Thursday, BB&T, KeyCorp, Philip Morris
International, Quest Diagnostics, Travelers Companies, and Verizon join the
earnings parade, and a new initial claims report surfaces. September existing
home sales numbers appear Friday, plus
earnings from BHGE, Daimler AG, General Electric, Schlumberger, and SunTrust
Bank; also, Fed chair Janet Yellen speaks on monetary policy Friday night in
Washington, D.C.
Sources: wsj.com, bigcharts.com, treasury.gov - 10/13/175,6,7,8
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 - briefing.com/investor/calendars/economic/2017/10/09-13 [10/13/17]
2 - tinyurl.com/ychmlgup [10/13/17]
3 - reuters.com/article/us-usa-economy-inflation/gasoline-boosts-u-s-consumer-prices-underlying-inflation-tame-idUSKBN1CI1NZ
[10/13/17]
4 - marketwatch.com/story/social-security-checks-expected-to-increase-2-in-2018-2017-10-13/
[10/13/17]
5 - markets.wsj.com/us
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F13%2F16&x=0&y=0
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F13%2F16&x=0&y=0
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F13%2F16&x=0&y=0
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F12%2F12&x=0&y=0
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F12%2F12&x=0&y=0
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F12%2F12&x=0&y=0
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=10%2F12%2F07&x=0&y=0
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=10%2F12%2F07&x=0&y=0
[10/13/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=10%2F12%2F07&x=0&y=0
[10/13/17]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[10/13/17]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[10/13/17]
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Wednesday, October 18, 2017
Economic Update for the week of October 18th, 2017
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