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WEEKLY QUOTE
“Prejudice
is the child of ignorance.”
- William Hazlitt
WEEKLY TIP
If
you are on the verge of retiring, you may want to defer some income until you
do retire (and presumably find yourself in a lower tax bracket). That choice
could lead to tax savings.
WEEKLY RIDDLE
It
can hold back cattle, pets, and even people, but never with an order or a command.
What is it?
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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March 7,
2018
CB: PLENTY OF
CONFIDENCE IN THE ECONOMY
The Conference Board’s monthly consumer confidence index soared
to 130.8 in February – the highest reading seen since November 2000. In
January, the gauge was at 124.3. (In the middle of the Great Recession, the
index hovered near 25.)1
SOLID READINGS
ON SOME KEY INDICATORS
Further fundamental economic data released last week
looked strong. Personal incomes improved 0.4% in January, according to the Bureau
of Economic Analysis; that matched the December increase. Personal spending
advanced 0.2% last month. The Institute for Supply Management’s manufacturing
purchasing manager index reached 60.8 in February, up 1.7 points from its
impressive January level. Lastly, the BEA made its third, concluding estimate
of Q4 GDP last week: 2.5%.2
NEW HOME SALES
RETREATED 7.8% IN JANUARY
This decline occurred even as new home inventory reached a
9-year high. With mortgage rates reaching 4.4% and the median new home price
up 2.5% in a month to $323,000, prospective buyers were deterred. The Census
Bureau says the rate of new home purchases was down 1.0% year-over-year
through January.3
MAJOR INDICES TAKE
WEEKLY LOSSES
All three of Wall Street’s big benchmarks fell as February
gave way to March. Losing 1.08% for the week, the Nasdaq Composite settled at
7,257.87 Friday. The S&P 500 retreated 2.04% in five days, ending the
week at 2,691.25. Hit hardest, the Dow Jones Industrial Average slumped 3.05%
across the week to 24,538.06.4
THIS WEEK: ISM releases its latest service sector PMI
on Monday. Tuesday, earnings announcements arrive from Autodesk, H&R
Block, Ross Stores, Target, and Urban Outfitters. Wednesday, the Street
reviews earnings from Abercrombie & Fitch, Caesars Entertainment, Casey’s
General Stores, Costco, Dollar Tree, Thor Industries, and Vivint Solar; in
addition, the Federal Reserve offers a new Beige Book, and ADP provides its
February payrolls snapshot. A new Challenger job-cut
report comes out Thursday, along with the latest
initial jobless claims figures and earnings results from Dell Technologies, Hovnanian,
Global Partners, Kroger, Navistar, Stage Stores, and Verifone. Friday,
investors will consider the Department of Labor’s February jobs report and Q4
results from Revlon.
Sources: wsj.com, bigcharts.com, treasury.gov - 3/2/184,5,6,7
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 - marketwatch.com/story/consumer-confidence-in-us-hits-highest-level-since-november-2000-2018-02-27
[2/27/18]
2 - investing.com/economic-calendar/
[3/2/18]
3 -
reuters.com/article/us-usa-economy/u-s-new-home-sales-hit-5-month-low-supply-highest-since-2009-idUSKCN1GA1X9
[2/26/18]
4 - markets.wsj.com/us
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F2%2F17&x=0&y=0
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F2%2F17&x=0&y=0
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F2%2F17&x=0&y=0
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F1%2F13&x=0&y=0
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F1%2F13&x=0&y=0
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F1%2F13&x=0&y=0
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=3%2F3%2F08&x=0&y=0
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=3%2F3%2F08&x=0&y=0
[3/2/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=3%2F3%2F08&x=0&y=0
[3/2/18]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[3/2/18]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[3/2/18]
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Wednesday, March 7, 2018
Economic Update for the week of March 7th, 2018
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