EXISTING HOME SALES IMPROVE
The National Association of Realtors reported that existing home sales rose 7.6% in August, a rebound from July’s record low. Separately, the Commerce Department said new home sales were flat in August (and 28.9% below year-ago levels). The inventory of unsold new homes decreased 1.4% last month to 206,000 – the smallest number since August 1968.1
The National Association of Realtors reported that existing home sales rose 7.6% in August, a rebound from July’s record low. Separately, the Commerce Department said new home sales were flat in August (and 28.9% below year-ago levels). The inventory of unsold new homes decreased 1.4% last month to 206,000 – the smallest number since August 1968.1
MARKET SEES UPSIDE IN DURABLE GOODS DATA
Overall durable goods orders declined 1.3% in August, but that was better than the 1.4% drop forecast by economists polled by Briefing.com. Minus transportation orders, durable goods orders were up 2.0% last month, far better than the 0.5% rise analysts expected. That news helped fuel a 198-point DJIA rally on Friday.2
Overall durable goods orders declined 1.3% in August, but that was better than the 1.4% drop forecast by economists polled by Briefing.com. Minus transportation orders, durable goods orders were up 2.0% last month, far better than the 0.5% rise analysts expected. That news helped fuel a 198-point DJIA rally on Friday.2
ECONOMISTS SAY RECESSION DONE; BUFFETT SAYS NO
The National Bureau of Economic Research now says the “Great Recession” ended in June 2009. But Warren Buffett disagrees. Last week, the “oracle of Omaha” told CNBC: “I think we’re in a recession until real per capita GDP gets back up to where it was before … we’re not gonna be out of it for a while, but we will get out of it.”3,4
The National Bureau of Economic Research now says the “Great Recession” ended in June 2009. But Warren Buffett disagrees. Last week, the “oracle of Omaha” told CNBC: “I think we’re in a recession until real per capita GDP gets back up to where it was before … we’re not gonna be out of it for a while, but we will get out of it.”3,4
LEADING INDICATORS ADVANCE 0.3% IN AUGUST
Last month, the Conference Board’s Leading Economic Indicators Index had its best increase since May. This is the second monthly advance in a row for the LEI.5
Last month, the Conference Board’s Leading Economic Indicators Index had its best increase since May. This is the second monthly advance in a row for the LEI.5
GOLD TOPS $1,300 FRIDAY
The Federal Reserve hinted at more quantitative easing last week, which helped gold futures. Gold rose above $1,300 in intraday trading Friday on the COMEX and settled at $1,298.10 per ounce. Silver ended the week at another 30-year peak: $21.40 per ounce after a 2.8% weekly advance.6
The Federal Reserve hinted at more quantitative easing last week, which helped gold futures. Gold rose above $1,300 in intraday trading Friday on the COMEX and settled at $1,298.10 per ounce. Silver ended the week at another 30-year peak: $21.40 per ounce after a 2.8% weekly advance.6
DOW PUSHES TOWARD 11,000
The DJIA advanced for a fourth straight week, closing Friday at 10,860.26. On the week, it advanced a healthy 2.38%. The S&P 500? Up +2.05% last week to 1,148.64 at Friday’s close. The NASDAQ? Up +2.83% last week to finish at 2,381.22 Friday.7
The DJIA advanced for a fourth straight week, closing Friday at 10,860.26. On the week, it advanced a healthy 2.38%. The S&P 500? Up +2.05% last week to 1,148.64 at Friday’s close. The NASDAQ? Up +2.83% last week to finish at 2,381.22 Friday.7
COMING NEXT WEEK: Tuesday, a new Case-Shiller home prices report & the Conference Board's Consumer Confidence Index; Thursday, the third 2Q GDP estimate & initial claims; Friday, August consumer spending, the University of Michigan’s final September consumer sentiment survey, the September ISM manufacturing index & new auto sales and construction spending figures.
% CHANGE | Y-T-D | 1-YR CHG | 5-YR AVG | 10-YR AVG |
DJIA | +4.14 | +11.88 | +0.85 | +0.05 |
NASDAQ | +4.94 | +12.98 | +2.50 | -3.64 |
S&P 500 | +3.01 | +9.31 | -1.10 | -2.02 |
REAL YIELD | 9/24 RATE | 1 YR AGO | 5 YRS AGO | 10 YRS AGO |
10 YR TIPS | 0.81% | 1.64% | 1.74% | 4.03% |
Source: cnbc.com, bigcharts.com, ustreas.gov, bls.gov - 9/24/107,8,9,10
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly.
These returns do not include dividends.
WEEKLY QUOTE
“Successful people ask better questions, and as a result, they get better answers.”
– Anthony Robbins
– Anthony Robbins
WEEKLY TIP
If you’re trying to save money or track your spending, consider using cash. Cash is real. You can see it, and you know when you’re out of it. Money becomes more abstract when you use a credit or debit card, leaving you more open to financial choices you may later regret.
WEEKLY RIDDLE
I have no heart or mind, but I do have two legs. Yet they only touch the ground when I am not carrying things around. What am I?
Last week’s riddle:
It is passed from hand to hand and pocket to pocket, yet whoever takes it doesn’t know it. Whoever knows it doesn’t want it. And whoever makes it makes sure never to mention it. What is it?
It is passed from hand to hand and pocket to pocket, yet whoever takes it doesn’t know it. Whoever knows it doesn’t want it. And whoever makes it makes sure never to mention it. What is it?
Last week’s answer:
Counterfeit money.
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Regards,
C.W. Copeland
"Your Personal CFO"
C.W. Copeland & Associates
Lifestyle Management Advisors
3401 Norman Berry Drive
Suite 253
East Point, GA 30344
404.567.3275 (direct)
404.601.9534 (fax)
www.PhDinMoney.com
"Your Personal CFO"
C.W. Copeland & Associates
Lifestyle Management Advisors
3401 Norman Berry Drive
Suite 253
East Point, GA 30344
404.567.3275 (direct)
404.601.9534 (fax)
www.PhDinMoney.com
Securities offered through Resource Horizons Group, L.L.C.
Member FINRA, SIPC
Advisory services offered through Resource Horizons Investment Advisory
1350 Church St. Ext. Third Floor
Marietta, GA 30060
Office 770 319-1970
Member FINRA, SIPC
Advisory services offered through Resource Horizons Investment Advisory
1350 Church St. Ext. Third Floor
Marietta, GA 30060
Office 770 319-1970
