“Don’t ever take a fence down until you know why it was put up.”
– Robert Frost
A good will should propose at least a few executors, as there is always the possibility that your first choice for executor might not outlive you.
Four grown men decided to play on the sidewalk for three hours. No one chided them for childish or immature behavior; many appreciated the noise they made. They even went home a bit richer. What were these men doing?
Last week’s riddle:
They have no bodies, but you could say they have tails and heads. What are they?
Last week’s answer:
April 30, 2012
Q1 GDP: +2.2%
The federal government’s initial estimate disappointed many analysts, even with plenty of potential for upward revision later. After all, Q4 2011 had brought growth of 3.0%. Economists polled by Briefing.com expected the Q1 estimate to come in at +2.5%. Personal spending rose by 2.9% for the quarter, with car sales playing the largest role in the gain; subtract vehicle purchases, and the consumption increase was 1.1%, the smallest in four quarters.1,2
KEY CONSUMER SENTIMENT SURVEY TOPS ESTIMATES
MOre HOME SALES CONTRACTS INKED IN MARCH
Pending home sales improved by 4.1% in March to reach their highest level since April 2010, according to a report from the National Association of Realtors. Another bit of good news was unexpected: February’s S&P/Case-Shiller Home Price Index showed prices rising 0.2% overall, the first advance recorded in ten months. Last week, Zillow said the median U.S. home value had increased 0.5% in March, the best monthly gain in six years. The sour note in last week’s real estate roundup was new home sales. The Census Bureau said they were down 7.1% in March. However, the median sale price was up 6.3% year-over-year.4,5
NASDAQ HAS BEST WEEK IN NEARLY 3 MONTHS
The tech-heavy index rose 2.29% across April 23-27 to settle at 3,069.20 Friday. The Dow gained 1.53% across the same stretch to finish the week at 13,228.31, while the S&P 500 advanced 1.80% last week to 1,403.36 at Friday’s close. With one market day to go in April, only the Dow is in positive territory for the month.3,6
THIS WEEK: March personal spending data arrives Monday, and so do Q1 results from NYSE Euronext, Shutterfly and Anadarko Petroleum. Tuesday, ISM’s April manufacturing PMI is out, plus data on April auto sales and earnings from BP, Pfizer, Motorola Mobility, Sirius XM Radio, Broadcom, Chesapeake Energy and CBS. Wednesday brings news on March factory orders and earnings from Marathon Oil, MasterCard, Comcast, Time Warner, UBS, Barrick Gold, CVS, DreamWorks, Green Mountain Coffee, Clorox, Sunoco, Transocean, Visa and Whole Foods. Thursday, we get ISM’s non-manufacturing PMI for April, new initial claims data, and results from General Motors, AIG, Kraft and LinkedIn. Friday, the April unemployment report is released and Berkshire Hathaway announces earnings.
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1 – money.msn.com/market-news/post.aspx?post=4ffe3e5e-7c95-4a95-8b82-e0848c9771de [4/27/12]
2 – briefing.com/investor/calendars/economic/2012/04/23-27 [4/27/12]
3 – www.cnbc.com/id/47204037 [4/27/12]
4 – www.nydailynews.com/life-style/real-estate/rebuilding-home-resales-highest-2010-article-1.1068578 [4/27/12]
5 – briefing.com/Investor/Calendars/Economic/Releases/newhom.htm [4/27/12]
6 – montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F27%2F11&x=0&y=0 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F27%2F11&x=0&y=0 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F27%2F11&x=0&y=0 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F27%2F07&x=0&y=0 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F27%2F07&x=0&y=0 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F27%2F07&x=0&y=0 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F26%2F02&x=0&y=0 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F26%2F02&x=0&y=0 [4/27/12]
7 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F26%2F02&x=0&y=0 [4/27/12]
8 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [4/27/12]
8 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [4/27/12]
9 – treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm10902.pdf [1/9/02]