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WEEKLY QUOTE
“True
knowledge exists in knowing that you know nothing.”
- Socrates
WEEKLY TIP
Thinking
of going into business? Most new firms are sole proprietorships, but with the
recent federal tax reforms, now is an excellent time to consider other
business entities and weigh which one might be best for you.
WEEKLY RIDDLE
It
is not a pool yet it has a cover, not a tree yet it has leaves, not a website
yet it has pages, and not a shirt yet it has sleeves. What could it be?
Last week’s riddle:
You can crack it, share it, tell it, make it, play it. What is
it, can you name it?
Last week’s answer:
A joke.
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February 26,
2018
FEWER HOMES
ARE SELLING
Demand is high, prices are high, and inventory is slim. In
view of these factors, the 4.8% year-over-year fall for existing home sales just
reported by the National Association of Realtors is not surprising. It
represents the largest annual decline seen since August 2014. Other January NAR
data showed homebuying down 3.2% from December levels and a median sale price
of $240,500, up 5.8% in 12 months.1
FED MINUTES
EMPHASIZE THE “GRADUAL”
Minutes from the January Federal Open Market Committee
meeting appeared Wednesday, and while FOMC members saw “substantial
underlying economic momentum,” they also stated that “gradual policy firming
would be appropriate.” To many investors and economists, that hinted at a
March rate increase. The CME Group’s FedWatch tool puts the odds of a
quarter-point March move at 83.1%.2,3
OIL ADVANCES
for a SECOND STRAIGHT WEEK
A 1.2% Friday climb left WTI crude
3.3% higher than it had been seven days earlier on the NYMEX. Oil settled at
$63.55 a barrel Friday, still down 1.8% for February.4
STOCKS RISE
Across February 20-23, all three major Wall Street
benchmarks advanced. The Nasdaq Composite set the pace with a 1.35% gain,
wrapping up the week at 7,337.39. The S&P 500 and Dow Jones Industrial
Average added a little less: the former rose 0.55% to 2,747.30; the latter,
0.36% to 25,309.99.5
THIS WEEK: On Monday, Wall Street eyes results from
Boise Cascade, CoreLogic, Dean Foods, Fitbit, Nutrisystem, and Palo Alto
Networks, and January new home sales numbers also appear. New Federal Reserve
chair Jerome Powell testifies on monetary policy in Congress Tuesday;
investors will also look at the Conference Board’s latest consumer confidence
index, January hard goods orders, and earnings from AutoZone, Bank of
Montreal, Discovery Communications, Etsy, Express Scripts, Extended Stay
America, Frontier Communications, Hertz Global, IMAX, Live Nation, Macy’s, Papa
John’s, Priceline, Sempra Energy, Square, TiVo, and Toll Brothers. On
Wednesday, the Street reviews the second estimate of Q4 GDP, January pending
home sales, and earnings from Analog Devices, Bayer, Chico’s FAS, Hilton
Grand Vacations, Hostess Brands, L Brands, La Quinta Holdings, Lowe’s, Office
Depot, Snyder’s-Lance, and Valeant Pharmaceuticals. Thursday offers ISM’s
February factory PMI, January personal spending data, and earnings from AMC,
Anheuser-Busch, Barnes & Noble, Best Buy, Gap, Kohl’s, and Nordstrom. On Friday,
Foot Locker and JCPenney present earnings, and the University of Michigan issues
its latest consumer sentiment index.
Sources: wsj.com, bigcharts.com, treasury.gov - 2/23/185,6,7,8
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/2018/02/21/january-existing-home-sales-.html
[2/21/18]
2 - investors.com/news/economy/fed-minutes-policy-meeting/
[2/21/18]
3 - cmegroup.com/trading/interest-rates/countdown-to-fomc.html/ [2/23/18]
4 - marketwatch.com/story/oil-on-track-for-second-consecutive-weekly-rise-2018-02-23
[2/23/18]
5 - markets.wsj.com/us
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F23%2F17&x=0&y=0
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F23%2F17&x=0&y=0
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F23%2F17&x=0&y=0
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F22%2F13&x=0&y=0
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F22%2F13&x=0&y=0
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F22%2F13&x=0&y=0
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=2%2F22%2F08&x=0&y=0
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=2%2F22%2F08&x=0&y=0
[2/23/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=2%2F22%2F08&x=0&y=0
[2/23/18]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[2/23/18]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[2/23/18]
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Wednesday, February 28, 2018
Economic Update for the week of February 28th, 2018
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