15 Nov Kevin M. Nast Presents: WEEKLY ECONOMIC UPDATE
| WEEKLY QUOTE“The trust of the innocent is the liar’s most useful tool.” – Stephen King WEEKLY TIP Income from stock options and bonuses could put you into a higher tax bracket for 2011. If that is a problem, consider deferring that income until 2012.
WEEKLY RIDDLE A sudden noise startles a gopher, an owl and a skunk at the edge of a forest. The owl flies off and the gopher retreats into his burrow, but the skunk runs for the trees. How far can that skunk run into the forest?
Last week’s riddle:
Last week’s answer: A river.
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November 14, 2011 ACTIONS in GREECE & ITALY CALM MARKETS Global investors seemed reassured at the end of last week by developments in the European Union. By Friday, Greek prime minister George Papandreou had stepped down; Italian prime minister Silvio Berlusconi’s resignation was at hand. Greek prime minister designate Lucas Papademos and a new coalition government will now be charged with implementing austerity cuts as Greeceaccepts the EU’s latest €130 billion aid package. Italy’s senate passed new economic reforms at the end of the week aimed at reducing its sovereign debt. Italy’s treasury was also able to sell €5 billion of one-year notes , albeit at 6.09% interest.1,2 A BIG REBOUND IN CONSUMER CONFIDENCE OIL PUSHES TOWARD $100 AGAIN STRONG FRIDAY PUTS DOW BACK IN THE BLACK THIS WEEK: Key economic releases will be complemented by earnings from the big boxes. Monday, Lowe’s, Urban Outfitters and JCPenney issue 3Q results. On Tuesday, Wal-Mart, Home Depot, Staples, Dell and Beazer Homes come out with earnings, and the October PPI arrives along with October’s retail sales report from the Census Bureau. Wednesday, the October CPI appears along with data on October industrial output; 3Q results roll in from Target and Abercrombie & Fitch. Thursday brings earnings from Ross Stores, Sears, Dollar Tree, GameStop and GAP, the latest initial claims figures and October’s housing starts report. Friday, Heinz announces 3Q results, EU finance ministers meet and the Conference Board offers its October leading indicator index.
Sources: cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov – 11/11/117,8,9,10 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 West Bloomfield, Farmington Hills, Bloomfield Hills, Auburn Hills, South Lyon 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. Marketing Library.Net Inc. is not affiliated with any broker or brokerage firm that may be providing this information to you. 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.LD42104-11/11
Citations. 1 – cnbc.com [11/11/11] 2 – cnbc.com [11/11/11] 3 – briefing.com [11/11/11] 4 – blogs.wsj.com [11/11/11] 5 – montoyaregistry.com [11/11/11] 6 – money.cnn.com [11/11/11] 7 – www.cnbc.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 8 – bigcharts.marketwatch.com [11/11/11] 9 – treasury.gov [11/11/11] 9 – treasury.gov [11/11/11] 10 – treasurydirect.gov [7/11/01] |
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