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WEEKLY QUOTE
“Reflect
on your present blessings, of which every man has many; not on your past
misfortunes, of which all men have some.”
- Charles Dickens
WEEKLY TIP
If
you get an email asking for your personal or financial information from what appears
to be the Internal Revenue Service, it is probably a scam. The I.R.S. does
not use emails, text messages, or social media to make initial inquiries
about these matters.
WEEKLY RIDDLE
I
am plain, thin, and lonely, but you use me all the time. I can appear with
one keystroke or just one movement when you write. What am I?
Last week’s riddle:
You can put me on a table and cut me, but you will never eat me.
What am I?
Last week’s answer:
A deck of cards.
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June 13,
2018
100 MONTHS OF
GROWTH FOR SERVICE BUSINESSES
The Institute for Supply Management announced this milestone
as it revealed a 58.6 May reading for its non-manufacturing purchasing
manager index. That excellent reading was well north of the 56.8 mark seen in
April. Fourteen of the fifteen service industries followed by the PMI
reported expansion in May; the information sector was the only outlier.1
Q2 GDP OUTLOOK
BRIGHTENS
Is the economy now expanding at the rate of 5% a year? The
bold new estimate by the Federal Reserve Bank of Atlanta nearly says as much.
The Atlanta Fed projects a 4.6% GDP reading for Q2. The first quarter saw a
2.2% rate of growth, and the economy grew 2.3% for all of 2017.2
SOCIAL
SECURITY TO TAP ITS RESERVES THIS YEAR
Last week, Social Security’s trustees announced that the
program needs to dip into its trust funds for the first time in 36 years in
order to fully fund itself in 2018. In their annual report, the trustees
noted that monthly benefits could be reduced as much as 23% by 2034 if no
legislative action is taken on Capitol Hill between now and then. The report
also noted that Medicare’s hospital insurance fund risks being depleted by
2026; barring a fix, Medicare might only pay out 91% of hospital costs at
that point.3
NASDAQ ATTAINS
RECORD TERRITORY AGAIN
Finishing Friday at 7,645.51, the Nasdaq Composite retreated
from its historic closes on Monday, Tuesday, and Wednesday of last week. Even
so, it gained 1.21% across five trading sessions. The S&P 500 added 1.62%
last week to settle at 2,779.03 Friday. The Dow Jones Industrial Average? It
rose 2.77% for the week, reaching 25,316.53 at Friday’s closing bell.4,5
THIS WEEK: Nothing major is scheduled on Monday. The
May Consumer Price Index appears Tuesday, plus earnings from H&R Block. Wednesday, Wall Street awaits a Federal
Reserve interest rate decision and considers the May Producer Price Index. May
retail sales numbers appear Thursday, in addition to a new initial jobless
claims report and quarterly results from Michaels Companies. On Friday, the
University of Michigan releases its preliminary June consumer sentiment index.
Sources: wsj.com, bigcharts.com, treasury.gov - 6/8/185,6,7,8
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 - nytimes.com/aponline/2018/06/05/us/politics/ap-us-economy-services.html
[6/5/18]
2 - cnbc.com/2018/06/08/gdp-for-second-quarter-on-track-to-double-2018-full-year-pace-of-2017.html
[6/8/18]
3 - marketwatch.com/story/new-warnings-about-cuts-to-social-security-and-medicare-are-a-reason-to-worry-2018-06-07
[6/7/18]
4 -
reuters.com/article/us-usa-stocks/tesla-drives-fourth-day-of-gains-for-nasdaq-banks-up-idUSKCN1J21E8
[6/6/18]
5 - markets.wsj.com/us
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F8%2F17&x=0&y=0
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F8%2F17&x=0&y=0
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F8%2F17&x=0&y=0
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F7%2F13&x=0&y=0
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F7%2F13&x=0&y=0
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F7%2F13&x=0&y=0
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F9%2F08&x=0&y=0
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F9%2F08&x=0&y=0
[6/8/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F9%2F08&x=0&y=0
[6/8/18]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/8/18]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/8/18]
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Wednesday, June 13, 2018
Economic Update for the week of June 13th, 2018
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