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WEEKLY QUOTE
“There
are no speed limits on the road to excellence.”
- David W. Johnson
WEEKLY TIP
Smart
households invest with diversification. They recognize that directing most of
their invested assets into one or two investment classes potentially heightens
their risk exposure.
WEEKLY RIDDLE
No
matter the time of day, it can open what you can’t. If not for it, on your
front porch you would stand. What is it?
Last week’s riddle:
Frank got behind the wheel and traveled from Fort Lauderdale to
Norfolk without any tires. How did he pull this off?
Last week’s answer:
He was behind the captain’s wheel
of a boat.
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February 7,
2018
WAGE GROWTH
PICKS UP AT LAST
In January, average hourly pay was 2.9% higher than it was
a year earlier. That was the key takeaway from the Department of Labor’s
latest jobs report, which noted the addition of 200,000 net new workers last
month. In January, the headline unemployment rate stayed at 4.1%; the broader
U-6 rate, which counts the underemployed, ticked up to 8.2%.1
ISM: FACTORY SECTOR
IN GREAT SHAPE
The Institute for Supply Management released its January
purchasing manager index for the manufacturing industry last week, and the
reading of 59.1 surpassed the forecast, made by economists surveyed by
MarketWatch, by half a point. A reading approaching 60 indicates significant expansion.2
HOUSEHOLDS
SPEND MORE, REMAIN OPTIMISTIC
Personal spending and incomes rose 0.4% in December,
according to a Department of Commerce report. The Conference Board’s consumer
confidence index climbed 2.3 points to 125.4 in January, while the University
of Michigan’s final January consumer sentiment index came in at 95.7 Friday,
1.3 points above its prior reading.2
STOCKS
SLUMP AS FEBRUARY BEGINS
As the 10-year Treasury yield hit 2.85% during
Friday’s Wall Street trading session, bears came out of hiding. New wage
growth data only added to investor concerns about rising inflation – and how
the Federal Reserve might respond to it. For the week: the S&P 500 fell 3.85%
to 2,762.13; the Dow Industrials, 4.12% to 25,520.96; the Nasdaq Composite, 3.53%
to 7,240.95.3,4
THIS WEEK: ISM’s service sector PMI appears Monday,
along with earnings from Bristol-Myers, Macerich, Panasonic, Suzuki, and
Sysco. Akamai, Allergan PLC, Anadarko Petroleum, Aramark, Beazer Homes, BP,
Chipotle, Container Store, Cummins, Dunkin’ Brands, General Motors, Genworth
Financial, Gilead Sciences, Netgear, Snap, Spirit Airlines, and Walt Disney
Co. release earnings Tuesday. Wednesday’s
earnings roll call includes news from Allstate, Callaway Golf, Exelon, GlaxoSmithKline,
Hasbro, Humana, Invacare, Michael Kors, NetEase, O’Reilly, Peabody Energy, Prudential
Financial, Rio Tinto, Take-Two Interactive, Tesla, Twenty-First Century Fox, Valvoline,
Yelp, and Zynga. Thursday, a new initial claims report arrives, plus earnings
from Activision Blizzard, CBRE, Coty, CVS Health, Expedia, Goodyear, GrubHub,
HanesBrands, Kellogg, Lions Gate, NCR, Nvidia, Penske, Philip Morris, Teva
Pharmaceuticals, The Hartford, Twitter, Tyson Foods, VeriSign, Viacom, W.R.
Grace, and Yum! Brands. Friday, nothing major is scheduled.
Sources: wsj.com, bigcharts.com, treasury.gov - 2/2/184,5,6,7
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 - nbcnews.com/business/economy/u-s-added-200-000-jobs-january-n843996
[2/2/18]
2 - marketwatch.com/economy-politics/calendars/economic [2/2/18]
3 - tinyurl.com/y7wgwjtg [2/2/18]
4 -
markets.wsj.com/us [2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F2%2F17&x=0&y=0
[2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F2%2F17&x=0&y=0
[2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F2%2F17&x=0&y=0
[2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F1%2F13&x=0&y=0
[2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F1%2F13&x=0&y=0
[2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F1%2F13&x=0&y=0
[2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F1%2F08&x=0&y=0
[2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F1%2F08&x=0&y=0
[2/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F1%2F08&x=0&y=0
[2/2/18]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[2/2/18]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/2/18]
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Wednesday, February 7, 2018
Economic Update for the week of February 7th 2018
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