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WEEKLY QUOTE
“The
secret of happiness is not in what one likes to do, but in what one has to do.”
- J.M. Barrie
WEEKLY TIP
If
you receive a big bonus, a windfall, or a sizable inheritance, you may feel
like taking some time out of the workforce. If so, keep in mind that there
will be a cost linked to that decision – a lack of earned income, which counts
in Social Security benefit calculations.
WEEKLY RIDDLE
I
grind my feet upon the earth, my forward motion supported by a metal hearth.
What I call food and drink was left behind by changes made in an ancient
time. What am I?
Last week’s riddle:
I went into the woods and got it. I brought it home in my hand
and removed it. What am I talking about?
Last week’s answer:
A splinter.
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May 17,
2018
OIL HITS A
4-YEAR PEAK
The price of WTI crude settled at $71.36 on Thursday,
hours after Bank of America Merrill Lynch analysts forecast $90 oil by spring
2019 and a “risk of $100 a barrel” Brent crude next year. Thursday’s close
was oil’s highest settlement since November 2014. Futures rallied 1.4% on the
week after the Trump administration said that the U.S. would exit the Iran
nuclear deal and reinstate sanctions against that OPEC member. That implies
reduced global oil supply. As of Friday evening, no other OPEC country had
committed to produce more oil in response. WTI crude closed at $70.70 on the
NYMEX on Friday.1
CONSUMER
SENTIMENT HOLDS STEADY
At a mark of 98.8, the University of Michigan’s initial
May consumer sentiment index was unchanged from its final April reading. At
this time in 2017, the index was at 97.1.2
INFLATION
PRESSURE MODERATES
In April, the Consumer Price Index rose 0.2%, while the
core CPI ticked up just 0.1%. This left annualized inflation unchanged at
2.5%, while yearly core inflation fell 0.1% to 2.1%. Thanks to a mere 0.1%
April gain in the Producer Price Index, wholesale inflation rose 2.6% in the
12 months ending in April, down from 3.0% in the year ending in March.3
BIG GAINS FOR
EQUITY BENCHMARKS
The S&P 500 advanced 2.41% in five days to a Friday
settlement of 2,727.72. Meanwhile, a 2.68% rise took the Nasdaq Composite north
to 7,402.88, and the Dow Jones Industrial Average added 2.34% to reach 24,831.17.
The Russell 2000 finished the week 2.63% higher at 1,606.79.4
THIS WEEK: Agilent Technologies announces earnings on
Monday. Tuesday, investors look at April retail sales data and Q1 results
from Home Depot. Wednesday’s earnings roster includes results from Cisco, Jack
in the Box, Macy’s, NetEase, and Take-Two Interactive; in addition, reports
on April industrial output and construction activity emerge. Applied
Materials, Nordstrom, JCPenney, and Walmart present earnings Thursday, when
the Street also considers the latest initial jobless claims figures and the
Conference Board’s April leading indicator index. On Friday, AstraZeneca,
Campbell Soup, and Deere & Co. offer earnings calls.
Sources: wsj.com, bigcharts.com, treasury.gov - 5/11/184,5,6,7
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/us-oil-prices-hover-at-3-12-year-highs-as-analysts-entertain-the-idea-of-100-crude-2018-05-11
[5/11/18]
2 - sca.isr.umich.edu/
[5/11/18]
3 - investing.com/economic-calendar/
[5/11/18]
4 - markets.wsj.com/us
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F11%2F17&x=0&y=0
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F11%2F17&x=0&y=0
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F11%2F17&x=0&y=0
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F10%2F13&x=0&y=0
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F10%2F13&x=0&y=0
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F10%2F13&x=0&y=0
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F12%2F08&x=0&y=0
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F12%2F08&x=0&y=0
[5/11/18]
5 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F12%2F08&x=0&y=0
[5/11/18]
6 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[5/11/18]
7 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[5/11/18]
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Thursday, May 17, 2018
Economic Update for the week of May 17th, 2018
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