“Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others..” –Jack Welch
Canceling an old credit card may be a bad idea if you have a good credit history. Part of that history is based on long you have been borrowing, and if that old card has a good history attached to it, it may be wiser to keep it.
You put me on a table. You cut me, yet you will not eat me. What am I?
Last week’s riddle
Why is B the coolest letter within the alphabet?
Last week’s answer
It is surrounded by A-C. [/column]
Mixed News On Home Sales
New home buying increased 2.0% in February, with all of the gain attributable to a remarkable 38.5% jump in sales in the West (a region which had witnessed a 32.7% January plunge in new home purchases). In contrast to this Census Bureau data, the National Association of Realtors noted a 7.1% February decline in existing home sales, with tightening inventory a factor. Last month, the median sale price of a new home was $301,400, up 2.6% in a year; the median existing home sale price was $210,800, up 4.4% from 12 months ago.1
The Economy Expanded 1.4% In Q4
Last quarter’s GDP was just revised upward by the Bureau of Economic Analysis. In its previous estimate, the BEA had measured Q4 growth at 1.0%. Analysts polled by Briefing.com had expected no change for the third and final estimate.2
Hard Goods Orders Decline
Overall orders for capital goods dipped 2.8% for February, according to the Census Bureau. With transportation orders removed, the number looked better; the pullback in core durable goods orders was just 1.0%. In January, overall durable goods orders increased 4.2% while core orders rose 1.2%.2
An Extended Rally Ends
Hawkish comments from some Federal Reserve officials held stocks and commodities in check last week, contributing to the end of a 5-week win streak. Across four trading days, the S&P 500 retreated 0.67% to 2,035.94; the Nasdaq Composite, 0.46% to 4,773.50; and the Dow Jones Industrial Average, 0.49% to 17,515.73. Gold had its worst week in more than five months, giving back 2.6% to settle at $1,221.60 on the COMEX Friday. Oil ended the week at $39.46 on the NYMEX.3
- Monday: Wall Street will consider February consumer spending and pending home sales reports.
- Tuesday: Janet Yellen speaks on monetary policy Tuesday in New York, and, in addition to her statements, investors will look at the Conference Board’s new consumer confidence survey, January’s S&P/Case-Shiller home price index, and earnings from Dave & Buster’s, Lennar, and Sonic.
- Wednesday: Wednesday offers the March ADP employment change report and earnings from Lululemon Athletica and Paychex.
- Thursday: the March Challenger job-cut report and new initial claims figures arrive.
- Friday: The Labor Department’s latest employment report, the final March consumer sentiment report from the University of Michigan, the March ISM manufacturing PMI, and China’s latest manufacturing PMIs all appear.
|% CHANGE||Y-T-D||1-YR CHG||5-YR AVG||10-YR AVG|
|REAL YIELD||3/24 RATE||1 YR AGO||5 YRS AGO||10 YRS AGO|
|10 YR TIPS||0.34%||0.12%||1.02%||2.20%|
forexlive.com, bigcharts.com, treasury.gov – 01/29/164,5,6,7 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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