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WEEKLY QUOTE
“All
generalizations are dangerous, even this one.”
- Alexandre Dumas
WEEKLY TIP
While
many company benefits plans offer short-term disability insurance, that
coverage usually lasts just 90 days. Because of this, parents (especially
single parents) really need to consider some form of long-term disability
coverage.
WEEKLY RIDDLE
I
am heartless and spineless and live mostly in the dark. When you encounter me,
I may try to sting you. What am I?
Last week’s riddle:
Isabella’s mother has three children. The first child’s name is
April. The second child’s name is May. What is the third child’s name?
Last week’s answer:
Isabella.
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November 8,
2017
HIRING REBOUNDS,
INDUSTRIES EXPAND
According to the Department of Labor, October brought a
net gain of 261,000 jobs. (Last month’s net loss of 33,000 was revised to a
net gain of 18,000.) The headline unemployment rate ticked down to 4.1%,
while the broader U-6 rate fell to 7.9% (down 1.3% in 12 months). Wages were
up 2.4% year-over-year. The Institute for Supply Management’s purchasing
manager indices alternately rose and fell in October. The readings were strong:
58.7 for the factory PMI (down 2.1 points), 60.1 for the service sector PMI
(up 0.3 points).1,2
CONSUMER
SPENDING, CONFIDENCE IMPRESS
Personal spending rose 1.0% in September, helped by households
replacing vehicles and goods damaged in hurricanes and floods. This was the largest
monthly advance in more than eight years. Personal wages improved 0.4%. The Conference
Board’s consumer confidence index climbed 6.1 points to 125.9 in October;
economists surveyed by MarketWatch expected a reading of 121.3.2,3
Jerome POWELL NOMINATED
TO LEAD FED
If his nomination is approved, the Federal Reserve
governor and former investment banker will become chairman when Janet
Yellen’s term ends in February. He is expected to maintain the Fed’s current
strategy for normalizing monetary policy. The central bank held interest
rates steady at its November meeting. Bloomberg puts the odds of a December
rate hike at 85%.4,5
another
ADVANCE FOR STOCKS
All three major indices rose last week, with the gains paralleling
those of the previous week. The respective improvements: S&P 500, 0.26% to
2,587.84; Nasdaq Composite, 0.94% to 6,764.44; Dow Jones Industrial Average,
0.45% to 23,539.19.6
THIS WEEK: On Monday, AMC Entertainment, Avis Budget
Group, CVS Health, Etsy, GoDaddy, Michael Kors, Priceline, Sysco, TripAdvisor,
and Weight Watchers announce earnings. Tuesday’s earnings roll call includes
news from Container Store, Dean Foods, Extended Stay America, Green Dot,
Invacare, Marcus & Millichap, Marriott International, Snap, Take-Two
Interactive, Valeant Pharmaceuticals, and Zynga. AmeriGas, Hostess Brands,
Humana, Square, Starwood Hotels & Resorts, Twenty-First Century Fox,
Valvoline, and Wendy’s release earnings Wednesday. Thursday, earnings news
streams in from AstraZeneca, D.R. Horton, Walt Disney Co., Hertz Global
Holdings, Lionsgate, News Corp., and Time. November’s initial University of
Michigan consumer sentiment index appears Friday, plus Q3 results from ArcelorMittal.
Sources: wsj.com, bigcharts.com, treasury.gov - 11/3/176,7,8,9
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 - forbes.com/sites/maggiemcgrath/2017/11/03/payrolls-rebound-from-hurricane-losses-adding-261000-jobs-in-october/
[11/3/17]
2 - marketwatch.com/economy-politics/calendars/economic
[11/3/17]
3 - bloomberg.com/news/articles/2017-10-30/u-s-consumer-spending-rises-most-since-2009-on-auto-purchases
[10/30/17]
4 - csmonitor.com/USA/Politics/2017/1103/Trump-taps-Jerome-Powell-for-Federal-Reserve-chair
[11/3/17]
5 - businessinsider.com/fed-statement-november-2017-11
[11/1/17]
6 - markets.wsj.com/us
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F3%2F16&x=0&y=0
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F3%2F16&x=0&y=0
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F3%2F16&x=0&y=0
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F2%2F12&x=0&y=0
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F2%2F12&x=0&y=0
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F2%2F12&x=0&y=0
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F2%2F07&x=0&y=0
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F2%2F07&x=0&y=0
[11/3/17]
7 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F2%2F07&x=0&y=0
[11/3/17]
8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[11/3/17]
9 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[11/3/17]
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Wednesday, November 8, 2017
Economic Update for the week of Nov 8th, 2017
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