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WEEKLY QUOTE
“The
mystery of life isn’t a problem to solve, but a reality to experience.”
- Frank Herbert
WEEKLY TIP
All
business owners should work on a formal succession plan long before the
endgame for their company begins. A solid succession plan addresses tax,
legal, and financial issues central to business ownership transfer.
WEEKLY RIDDLE
You
can put me on a table and cut me, but you will never eat me. What am I?
Last week’s riddle:
Kelsey is 16, and she just learned how to drive. She was on the
other side of the road yesterday morning, but did not get a ticket even though
a police car saw her. Why?
Last week’s answer:
She was not driving when she was
on the other side of the road.
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June 6,
2018
HIRING,
HOUSEHOLD SPENDING STRENGTHEN
Net job growth surprised to the upside in May: companies
added 223,000 more workers than they laid off or fired. At 3.8%, the
unemployment rate is now where the Federal Reserve thought it would be at the
end of 2018, and it is also at its lowest level since April 2000.
Underemployment, as measured by the Department of Labor’s U-6 jobless rate,
fell 0.2% in May to a 17-year-low of 7.6%. Year-over-year wage growth was
measured at 2.7% in this latest labor market snapshot. In another sign of a
strong economy, the Department of Commerce said that consumer spending grew
by a noteworthy 0.6% in April, with consumer incomes rising 0.3%.1,2
CONSUMER
CONFIDENCE REBOUNDS
The Conference Board’s closely watched consumer confidence
index improved to 128.0 in May, rising 2.4 points from its April mark.
Analysts polled by MarketWatch expected a reading of 127.5.2
FACTORY SECTOR
CONTINUES TO BOOM
Growth picked up in U.S. manufacturing last month,
according to the Institute for Supply Management’s May purchasing manager
index. At an impressive reading of 58.7, the PMI was 1.4 points better than
it was in April and matched its average reading over the past 12 months. The
index has not been below 56.5 for a year. Any reading above 50.0 indicates
expansion.3
WALL STREET
SHRUGS AT NEW IMPORT TAXES
The Trump administration is following through on its
pledge to impose tariffs on metals imported from Mexico, Canada, and the
European Union – and all those trading partners are responding in kind.
Incipient trade war or not, investors felt confident last week – confident
enough to send the Nasdaq Composite another 1.62% higher in four days. The
S&P 500 added 0.49% in those four sessions, but the Dow Jones Industrial
Average fell 0.48% last week. Their respective Friday settlements: Dow, 24,635.21;
Nasdaq, 7,554.33; S&P, 2,734.62.4,5
THIS WEEK: On Monday, Apple kicks off its weeklong
2018 developer conference, and Dell Technologies and Palo Alto Networks
announce earnings. The ISM service sector PMI appears Tuesday. Wednesday,
Thor Industries reports quarterly results. On Thursday, Wall Street reviews
the latest initial jobless claims data and earnings from Broadcom and J.M.
Smucker. Friday, nothing major is scheduled.
Sources: wsj.com, bigcharts.com, treasury.gov - 6/1/185,6,7,8
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 - reuters.com/article/us-usa-economy/u-s-job-growth-surges-unemployment-rate-falls-to-3-8-percent-idUSKCN1IW1NX
[6/1/18]
2 - marketwatch.com/economy-politics/calendars/economic
[6/1/18]
3 - instituteforsupplymanagement.org/ISMReport/MfgROB.cfm?SSO=1
[6/1/18]
4 - thestreet.com/markets/stocks-post-sharp-gains-after-jobs-report-14607822
[6/1/18]
5 - markets.wsj.com/us
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F1%2F17&x=0&y=0
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F1%2F17&x=0&y=0
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F1%2F17&x=0&y=0
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F31%2F13&x=0&y=0
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F31%2F13&x=0&y=0
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F31%2F13&x=0&y=0
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F2%2F08&x=0&y=0
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F2%2F08&x=0&y=0
[6/1/18]
6 -
bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F2%2F08&x=0&y=0
[6/1/18]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield
[6/1/18]
8 -
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll
[6/1/18]
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Wednesday, June 6, 2018
Economic Update for the week of June 6th, 2018
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