WEEKLY QUOTE
“A man’s silence is wonderful to listen to.”
– Thomas Hardy
WEEKLY TIP
When a grandparent, relative or friend of the family pays for a child’s medical expenses that are not covered by insurance, direct payments to doctors for such costs are not considered gifts to the child and do not count against the annual gift tax exclusion amount (currently $14,000).
WEEKLY RIDDLE
Michael is asked to use only the numeral 4, four times, to make an equation that equals 17. How does he do it?
Last week’s riddle
A 6-foot chain is suspended with its ends nailed to a wall, with the nails parallel to the floor. The chain sags and hangs down between the nails; the height of the hanging chain is therefore 3 feet from top to bottom. What is the distance in between the nails?
Last week’s answer:
No distance at all, they are next to each other.
PERSONAL SPENDING BARELY IMPROVES
Consumer spending increased by only a seasonally adjusted 0.1% in August, while consumer incomes rose 0.2%. Those gains precisely matched the projections of economists surveyed by the Wall Street Journal. Factoring in inflation, household spending actually retreated 0.1% during August. Hurricane Harvey may be partly to blame for these numbers.(1)
ROUNDING UP REAL ESTATE INDICATORS
Census Bureau data shows new home buying down 3.4% in August; this dip comes on the heels of a (revised) 5.5% fall in July. Pending home sales, as measured by a National Association of Realtors index, slipped 2.6% in August after retreating 0.8% a month earlier. The 12-month gain for the S&P/Case-Shiller home price index improved 0.2% to 5.8% in the July edition (released last week).(2)
More from Adams Wealth Management.
Understanding 401(k) Rollovers
Health Care Costs Are Cutting into Retirement Preparations
Has Your Identity Been Stolen?
CONSUMER OUTLOOK WEATHERS STORMS
The University of Michigan’s consumer sentiment index and the Conference Board’s consumer confidence index both declined for September, but not drastically. The university’s gauge fell 1.7 points to a reading of 95.1, right where analysts polled by MarketWatch thought it would land; that left it 4.3 points above where it was in September 2016. At a mark of 119.8, the CB index was just 0.6 points lower than its August reading.(2,3)
WALL STREET WRAPS UP A GOOD WEEK & MONTH
The three major indices all advanced last week. Taking the lead, the Nasdaq Composite posted a 5-day gain of 1.07% on the way to a Friday close of 6,495.96. In the same period, the Dow Jones Industrial Average improved 0.25% to 22,405.09; the S&P 500, 0.68% to 2,519.36. At the close on September 29, the Nasdaq had added 0.94% month-over-month; the Dow, 1.90%; the S&P, 1.73%; the Russell 2000, an impressive 5.47%. The CBOE VIX ended the month at just 9.51.(4)
THIS WEEK: Monday sees the release of ISM’s September manufacturing PMI. Tuesday, Lennar and Paychex announce quarterly earnings. ISM’s September service sector PMI and ADP’s latest payrolls snapshot arrive Wednesday, plus Q3 earnings from Monsanto and PepsiCo; in addition, Federal Reserve chair Janet Yellen will speak briefly at the St. Louis Fed’s community banking conference. Thursday offers new initial claims numbers, the September Challenger job-cut report, and Q3 results from Constellation Brands and Costco. On Friday, the Department of Labor issues its September jobs report.
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.
However you see your tomorrow, the best time to plan for it is today.
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 – foxbusiness.com/features/2017/09/29/u-s-consumer-spending-soft-in-august.html [9/29/17]
2 – investing.com/economic-calendar/ [9/29/17]
3 – marketwatch.com/story/consumer-sentiment-eases-but-stays-strong-in-the-face-of-hurricanes-and-politics-2017-09-29 [9/29/17]
4 – markets.wsj.com/us [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F29%2F16&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F29%2F16&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F29%2F16&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F28%2F12&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F28%2F12&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F28%2F12&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F28%2F07&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F28%2F07&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F28%2F07&x=0&y=0 [9/29/17]
6 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [9/29/17]
7 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [9/29/17]
Other Information:
Adams Wealth Management Group LLC (“Adams Wealth Management”) is a registered investment adviser offering advisory services in the State of Texas and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by Adams Wealth Management in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of Adams Wealth Management, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.
All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment strategy or plan will be successful.
PERSONAL SPENDING BARELY IMPROVES
Consumer spending increased by only a seasonally adjusted 0.1% in August, while consumer incomes rose 0.2%. Those gains precisely matched the projections of economists surveyed by the Wall Street Journal. Factoring in inflation, household spending actually retreated 0.1% during August. Hurricane Harvey may be partly to blame for these numbers.(1)
ROUNDING UP REAL ESTATE INDICATORS
Census Bureau data shows new home buying down 3.4% in August; this dip comes on the heels of a (revised) 5.5% fall in July. Pending home sales, as measured by a National Association of Realtors index, slipped 2.6% in August after retreating 0.8% a month earlier. The 12-month gain for the S&P/Case-Shiller home price index improved 0.2% to 5.8% in the July edition (released last week).(2)
More from Adams Wealth Management.
Understanding 401(k) Rollovers
Health Care Costs Are Cutting into Retirement Preparations
Has Your Identity Been Stolen?
CONSUMER OUTLOOK WEATHERS STORMS
The University of Michigan’s consumer sentiment index and the Conference Board’s consumer confidence index both declined for September, but not drastically. The university’s gauge fell 1.7 points to a reading of 95.1, right where analysts polled by MarketWatch thought it would land; that left it 4.3 points above where it was in September 2016. At a mark of 119.8, the CB index was just 0.6 points lower than its August reading.(2,3)
WALL STREET WRAPS UP A GOOD WEEK & MONTH
The three major indices all advanced last week. Taking the lead, the Nasdaq Composite posted a 5-day gain of 1.07% on the way to a Friday close of 6,495.96. In the same period, the Dow Jones Industrial Average improved 0.25% to 22,405.09; the S&P 500, 0.68% to 2,519.36. At the close on September 29, the Nasdaq had added 0.94% month-over-month; the Dow, 1.90%; the S&P, 1.73%; the Russell 2000, an impressive 5.47%. The CBOE VIX ended the month at just 9.51.(4)
THIS WEEK: Monday sees the release of ISM’s September manufacturing PMI. Tuesday, Lennar and Paychex announce quarterly earnings. ISM’s September service sector PMI and ADP’s latest payrolls snapshot arrive Wednesday, plus Q3 earnings from Monsanto and PepsiCo; in addition, Federal Reserve chair Janet Yellen will speak briefly at the St. Louis Fed’s community banking conference. Thursday offers new initial claims numbers, the September Challenger job-cut report, and Q3 results from Constellation Brands and Costco. On Friday, the Department of Labor issues its September jobs report.
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.
However you see your tomorrow, the best time to plan for it is today.
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 – foxbusiness.com/features/2017/09/29/u-s-consumer-spending-soft-in-august.html [9/29/17]
2 – investing.com/economic-calendar/ [9/29/17]
3 – marketwatch.com/story/consumer-sentiment-eases-but-stays-strong-in-the-face-of-hurricanes-and-politics-2017-09-29 [9/29/17]
4 – markets.wsj.com/us [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F29%2F16&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F29%2F16&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F29%2F16&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F28%2F12&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F28%2F12&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F28%2F12&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=9%2F28%2F07&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=9%2F28%2F07&x=0&y=0 [9/29/17]
5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=9%2F28%2F07&x=0&y=0 [9/29/17]
6 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [9/29/17]
7 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [9/29/17]
Other Information:
Adams Wealth Management Group LLC (“Adams Wealth Management”) is a registered investment adviser offering advisory services in the State of Texas and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by Adams Wealth Management in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of Adams Wealth Management, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.
All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment strategy or plan will be successful.
