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WEEKLY QUOTE
“My
father used to say, ‘Let them see you and not the suit.’”
- Cary Grant
WEEKLY TIP
Did
you just get a great business idea? If you have a product or service offering
that you sense your customers will find irresistible, perhaps they could help
you finance it. Consider presenting it through a subscription model or have customers
pay for the goods or services in advance.
WEEKLY RIDDLE
What
round, white container hides a tasty delight within it and requires no keys
to open?
Last week’s riddle:
Tom figures out that an old grandfather clock is one minute fast
every hour. How can Tom manipulate the clock to tell the correct time twice a
day, while keeping it running at the same pace?
Last week’s answer:
By making it run backwards.
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December 7
2017
CONSUMERS ACT
ON THEIR CONFIDENCE
A new factoid points out just how well the economy is
doing: the federal government just upgraded its estimate of third-quarter
growth to 3.3%. New data on consumer spending and confidence hints at
fourth-quarter strength. Personal spending improved 0.3% in October following
the 0.9% leap in September, and household wages were up 0.4% in October for a
second straight month. At a mark of 129.5, the Conference Board’s consumer
confidence index reached a YTD peak in November, having soared 9.1 points in
two months.1,2
TWO VERY
POSITIVE HOUSING SIGNALS
New homes are selling strongly. October saw a 6.2% advance
for new home buying according to the Commerce Department, with sales up 30%
in the Northeast; the annualized rate of new home purchases was the best in a
decade. In addition, the National Association of Realtors announced a 3.5%
gain in its pending home sales index for October, a turnaround from the 0.4%
September decline.1,3
MANUFACTURING
SECTOR MAINTAINS A HECTIC PACE
The Institute for Supply Management’s October factory
sector purchasing manager index came in at 58.2 last week – a sign of
significant expansion. That was half a point below its September reading, but
still far above the 50.0 dividing line between sector growth and contraction.4
MORE UPS THAN
DOWNS ON WALL STREET
News from the nation’s capital affected equity index
performance more than anything else as November ebbed into December. When the closing
bell called an end to a rollercoaster trading day on Friday, the weekly
numbers looked better for the Dow Jones Industrial Average (+2.86% to
24,231.59) and S&P 500 (+1.53% to 2,642.22) than for the Nasdaq Composite
(-0.60% to 6,847.59). The CBOE VIX volatility index climbed 18.20% for the
week to 11.43.5
THIS WEEK: Monday, no major economic news items are
scheduled. On Tuesday, a new ISM service sector PMI arrives, plus earnings
from AutoZone, Bank of Montreal, Land’s End, and Toll Brothers. Wednesday,
ADP issues its November payrolls report; investors also review earnings from
American Eagle Outfitters, Analogic, H&R Block, Broadcom, Fred’s,
Hudson’s Bay Co., and Lululemon Athletica. Thursday offers the latest
Challenger job-cut report, a new weekly initial claims report, and earnings
from Dell Technologies, Dollar General, and Toro. Wall Street considers the
Department of Labor’s November employment report Friday along with the
initial University of Michigan consumer sentiment index for December.
Sources: wsj.com, bigcharts.com, treasury.gov - 12/1/175,6,7,8
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
[12/1/17]
2 - bloomberg.com/quote/CONCCONF:IND [12/1/17]
3 - thestreet.com/story/14403381/1/with-real-sector-booming-what-housing-sector-stocks-will-pop-.html
[11/27/17]
4 - instituteforsupplymanagement.org/ismreport/mfgrob.cfm?SSO=1 [12/1/17]
5 - markets.wsj.com/us
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=12%2F1%2F16&x=0&y=0
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=12%2F1%2F16&x=0&y=0
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=12%2F1%2F16&x=0&y=0
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F30%2F12&x=0&y=0
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F30%2F12&x=0&y=0
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F30%2F12&x=0&y=0
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=11%2F30%2F07&x=0&y=0
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=11%2F30%2F07&x=0&y=0
[12/1/17]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=11%2F30%2F07&x=0&y=0
[12/1/17]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[12/1/17]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[12/1/17]
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Thursday, December 7, 2017
Economic Update for the week of December 7th, 2017
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