07 Feb Kevin M. Nast Presents: WEEKLY ECONOMIC UPDATE
| WEEKLY QUOTE“If you would be loved, love and be lovable.”– Benjamin Franklin
WEEKLY TIP As your retirement progresses, your retirement strategy should be reviewed in light of budgeting and inflation concerns and the current financial climate.
WEEKLY RIDDLE A lone pine tree stands on a cliff. The wind is blowing from the east through the mountains. Which way do the tree’s leaves blow?
Last week’s riddle: Last week’s answer: An ace in a deck of cards.
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February 3, 2012 JOBLESS RATE DOWN TO 8.3% Are we seeing a trend here? The unemployment rate has now fallen 0.8% in the last six months. We haven’t seen a descent this sharp and swift since 1984. January hiring blew away forecasts: the Labor Department said the economy added 243,000 jobs last month, while economists polled by Briefing.com expected non-farm payrolls to grow by 155,000 positions. The labor force hasn’t grown so much in a month since last April, and the numbers are making analysts wonder if the Federal Reserve will tinker with interest rates months ahead of expectations.1,2 HOUSEHOLDS SAVE FIRST, SPEND SECOND Consumer spending was flat in December after gains of just 0.1% in November and October. More significantly, consumer incomes rose 0.5% for December and so did the personal savings rate. People essentially put the extra money in the bank. In related news, the federal government estimated 2011 GDP at 1.7%, about half of the economic growth seen in 2010.3 BOTH ISM INDEXES RISE CASE-SHILLER INDEX DECLINES AGAIN NASDAQ TOPS 2,900 The tech-heavy index closed at an 11-year high Friday: 2,905.66. The Dow settled at 12, 862.23 at week’s end, its best close since May 2008. The S&P 500 finished Friday at 1,344.90. The weekly gains: DJIA, 1.59%; S&P, 2.17%; NASDAQ, 3.16%.1,6 THIS WEEK: Earnings take center stage in a stretch without much economic data. Monday brings Q4 results from Yum Brands, Humana and Hasbro. Tuesday, earnings arrive from Disney, UBS, Toyota, BP, Coca-Cola and Hartford Financial. Wednesday, Groupon, VISA, CVS, Sprint Nextel, Time Warner and Cisco join in. Thursday, the Bank of England and ECB wrap up policy meetings; new initial claims figures complement earnings reports from Expedia, PepsiCo, Dunkin’ Brands, Sirius XM Radio, Rio Tinto and Credit Suisse. Friday, the University of Michigan’s initial February consumer sentiment survey comes out plus Q4 results from Barclays.
Sources: money.msn.com, bigcharts.com, treasury.gov, treasurydirect.gov – 2/3/121,7,8,9 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 Adviser 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 Farmington Hills, Bloomfield Hills, Auburn Hills, South Lyon, Westland 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.
LD42806-02/12 Citations. 1 – money.msn.com [2/3/12] 2 – www.briefing.com [2/3/12] 3 – www.mercurynews.com [1/30/12] 4 – www.ism.ws [2/3/12] 5 – www.latimes.com [1/31/12] 6 – montoyaregistry.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 7 – bigcharts.marketwatch.com [2/3/12] 8 – treasury.gov/resource-center [2/3/12] 8 – treasury.gov/resource-center [2/3/12] 9 – treasurydirect.gov [1/9/02] |
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