26 Sep Kevin M. Nast Presents: WEEKLY ECONOMIC UPDATE
| WEEKLY QUOTE“We should have a great fewer disputes in the world if words were taken for what they are, the signs of our ideas only, and not for things themselves.” – John Locke WEEKLY TIP Have an elderly parent who is on too many mailing lists – and spending or giving away too much money as a result? Consider adding your parent’s name to the Do Not Mail list at Directmail.com .
WEEKLY RIDDLE I can’t be seen, but I’m all around. I have no mouth, yet can make a sound. I can be harnessed, but never bound. No hands have I, yet I move the ground. What am I?
Last week’s riddle:
Last week’s answer: Divide the 9 cubes into 3 groups of 3. Weigh two groups. This way, you can find out which group has the heavier cube in it. Choose 2 cubes from this group and compare their weights. By deduction, you will determine the heaviest cube.
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September 26, 2011 INVESTORS SEEK CASH, WATCH POLICY MOVES Stocks tumbled last week as Wall Street shrugged off news of the Federal Reserve’s move to direct $400 billion into longer-term Treasuries and wondered if Europe’s debt troubles might trigger a recession. At mid-week, the Federal Reserve and International Monetary Fund managing director Christine LaGarde both noted “downside risks” to the U.S. and world economies. Thursday night, finance ministers and central bank governors from the Group of 20 pledged they would make a “strong and coordinated international response to address the renewed challenges facing the global economy” – a welcome declaration, yet the S&P 500 still slipped more than 6% on the week.1,2,3 EXISTING HOME SALES UP 7.7% in AUGUST CONFERENCE BOARD LEADING INDICATORS RISE The global research group said its index rose 0.3% last month. However, a sizable part of that gain was due to a rise in M2 money supply – Americans boosting their bank accounts and cash positions.6 BLEAK WEEK FOR GOLD & CRUDE CONFIDENCE TAKES A HOLIDAY THIS WEEK: Monday, the Census Bureau releases new home sales figures for August. Tuesday, the July S&P/Case-Shiller home price index comes out, plus the Conference Board’s September consumer confidence index; Walgreens issues an earnings report. Wednesday brings a look at August durable goods orders. On Thursday, we have a new report on pending home sales and new initial claims figures; Germany’s parliament also votes on expanding the Eurozone bailout fund. On Friday, we get the Commerce Department’s report on August consumer spending and the University of Michigan’s final September consumer sentiment survey.
Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov – 9/23/113,8,9,10 Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. |
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| Kevin M. Nast is a Financial Planner and the President of NastGroup Financial in Northville, MI 48167. He may be reached at nastgroupfinancial.com or 248.347.1888. Kevin also services clients in Wixom, Milford, Novi, Commerce Township, West Bloomfield and the surrounding metro Detroit area as well as 13 additional states across the US.This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. 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. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, 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 an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to invest directly in an index. 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. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. 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.
LD41652-09/11 Citations. 1 – sfgate.com [9/22/11] 2 – online.wsj.com [9/23/11] 3 – cnbc.com [9/23/11] 4 – realtor.org [9/21/11] 5 – census.gov [9/20/11] 6 – thestreet.com [9/22/11] 7 – blogs.wsj.com [9/23/11] 8 – bigcharts.marketwatch.com[9/23/11] 8 – bigcharts.marketwatch.com [9/23/11] 8 – bigcharts.marketwatch.com [9/23/11] 8 – bigcharts.marketwatch.com [9/23/11] 8 – bigcharts.marketwatch.com [9/23/11] 8 – bigcharts.marketwatch.com [9/23/11] 8 – bigcharts.marketwatch.com [9/23/11] 8 – bigcharts.marketwatch.com [9/23/11] 8 – bigcharts.marketwatch.com [9/23/11] 9 – treasury.gov [9/23/11] 9 – treasury.gov [9/23/11] 10 – treasurydirect.gov [7/11/01] 11 – montoyaregistry.com [9/23/11] |
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