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WEEKLY QUOTE
Intelligence without ambition is a bird without wings. - Salvador Dal
According to the Commerce Department, consumer spending improved 0.3% in May as consumer incomes increased 0.5%. The latest household sentiment polls seemed to reflect the good news. The Conference Boards consumer confidence gauge hit 81.4 in June, the best mark since January 2008; the University of Michigans final June survey came in at 84.1, up from a preliminary reading of 82.7.1,2
WEEKLY TIP
Consolidating your stray IRAs can mean fewer account statements, fewer account fees and less paperwork.
WEEKLY RIDDLE
At a stop sign on a rural road, there are two trucks in front of a truck, two trucks behind a truck, and one truck in the middle of two trucks. How many trucks are there in total?
Last weeks riddle: It can be told, made, cracked, and played. What is it? Last weeks answer: A joke.
New home sales rose another 2.1% in May, taking the annualized increase to 29.0%. In addition to that news from the Census Bureau, the National Association of Realtors reported a 6.7% rise in pending home sales in May (and a 12.1% yearly improvement in the category). The Case-Shiller Home Price Index had its best month ever: a 2.5% April gain with prices rising 12.1% in 12 months. Not all the news from the housing sector was positive Freddie Mac said that the average rate on a 30-year home loan hit 4.46% last week, the highest in almost two years. 1,4,5,6
10 YR TIPS
0.53%
-0.48%
1.48%
7,8,9,10
1.90%
Sources: cnbc.com, bigcharts.com, treasury.gov - 6/28/13 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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Citations.
1 - nytimes.com/2013/06/28/business/economy/consumer-spending-and-home-sales-were-up-in-may.html [6/28/13] 2 - reuters.com/article/2013/06/28/us-usa-economy-sentiment-idUSBRE95R0MA20130628 [6/28/13] 3 - marketwatch.com/story/us-first-quarter-gdp-cut-to-18-from-24-2013-06-26 [6/26/13] 4 - census.gov/construction/nrs/pdf/newressales.pdf [6/26/13] 5 - reuters.com/article/2013/06/25/us-usa-economy-homes-index-idUSBRE95O0PH20130625 [6/25/13] 6 - freddiemac.com/pmms/ [6/28/13] 7 - cnbc.com/id/100852152 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F28%2F12&x=0&y=0 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F28%2F12&x=0&y=0 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F28%2F12&x=0&y=0 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F27%2F08&x=0&y=0 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F27%2F08&x=0&y=0 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F27%2F08&x=0&y=0 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=6%2F27%2F03&x=0&y=0 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=6%2F27%2F03&x=0&y=0 [6/28/13] 8 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=6%2F27%2F03&x=0&y=0 [6/28/13] 9 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [6/28/13] 10 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [6/28/13]
Partner
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Doug Potash is a Registered Representative offering securities through Cambridge Investment Research, Inc., Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a federally registered investment advisor. Cambridge and Premier Planning Group are not affiliated.