Current Events: 52-week highs in both the Dow Jones Industrial and S&P 500 can be credited to the decision made on late Thursday by the Federal Reserve to commence a third round of quantitative easing. The announcement of the Fed's plan to buy $40 billion worth of mortgage-backed securities per month quickly triggered a sharp rally in the U.S. markets.
What to Look for This Week
The most important numbers to be released this week for investors will certainly be involving housing data, especially considering the lack of earnings and economic announcements scheduled. Statistics from the NAHB Housing Market Index and Housing Starts reports will help investors evaluate the health status of the slowly rebuilding U.S. housing market.
News Affecting the Markets
Last week, in an effort to provide much needed reassurance and support to onlookers concerning the euro zone debt crisis, the European Central Bank pledged to provide unlimited funds to rein in the debt crisis via its own bond-buying program. However, assistance cannot be extended unless a country asks for help. This is something that Spain has neglected to do till date.
Smart Investing
Fear Can Lead to Poor Retirement Choices: When considering retirement it is important to reflect on what changes need to occur to move from where you are now to where you'd like to be in 10 years. Will keeping your current jobs get you where you want to be? Will starting a business help you succeed? What do you need to do to get to where you want to be and reach all your goals, personally and financially? Many boomers have a lot of fears about retirement. Determine what your fears are. The stock market has played havoc on many boomers' retirement nest eggs. Cutbacks on savings plans at work, as well as having to contribute more to healthcare costs, less pay raises and even pay cuts have created fears about having enough money to retire. Some say we can't even truly rely on social security anymore as national debt concerns rise. Fear of not enough money can cause problems with your life today, as well as create a lot of fear based choices that might not be the best for you or your family. Pay off debt before retirement. Zero debt working on a cash basis should be your goal for retirement days.
Earnings for the Week
Monday: No major announcements.
Tuesday: No major announcements.
Wednesday: No major announcements.
Thursday: No major announcements.
Friday: No major announcements.
* Earnings dates and times are subject to change
Economic Data this Week
Monday
Empire Manufacturing @ 8:30 AM for September (Est. = -3.0, Prior = -5.9)
Tuesday
NAHB Housing Market Index @ 10:00 AM for September (Est. = 38, Actual = 37)
Wednesday
MBA Mortgage Index @ 7:00 AM for 09/15 (Est. = n/a, Prior = 11.1%)
Housing Starts @ 8:30 AM for August (Est. = 0.0% to 0.3%, Prior = -0.2%)
Building Permits @ 8:30 AM for August (Est. = 0.0% to 0.3%, Prior = -0.2%)
Existing Home Sales @ 10:00 AM for August (Est. = 0.0% to 0.3%, Prior = -0.2%)
Crude Oil Inventories @ 10:30 AM for 09/15 (Est. = n/a, Prior = 1.994M)
Thursday
Initial Claims @ 8:30 AM for 09/15 (Est. = 375K, Prior = 382K)
Continuing Claims @ 8:30 AM for 09/08 (Est. = 3292K to 3300K, Prior = 3283K)
Philadelphia Fed @ 10:00 AM for September (Est. = -5.0, Prior = -7.1)
Leading Indicators @ 10:00 AM for August (Est. = 0.0%, Prior = 0.4%)
Friday
No scheduled announcements.
The most important numbers to be released this week for investors will certainly be involving housing data, especially considering the lack of earnings and economic announcements scheduled. Statistics from the NAHB Housing Market Index and Housing Starts reports will help investors evaluate the health status of the slowly rebuilding U.S. housing market.
News Affecting the Markets
Last week, in an effort to provide much needed reassurance and support to onlookers concerning the euro zone debt crisis, the European Central Bank pledged to provide unlimited funds to rein in the debt crisis via its own bond-buying program. However, assistance cannot be extended unless a country asks for help. This is something that Spain has neglected to do till date.
Smart Investing
Fear Can Lead to Poor Retirement Choices: When considering retirement it is important to reflect on what changes need to occur to move from where you are now to where you'd like to be in 10 years. Will keeping your current jobs get you where you want to be? Will starting a business help you succeed? What do you need to do to get to where you want to be and reach all your goals, personally and financially? Many boomers have a lot of fears about retirement. Determine what your fears are. The stock market has played havoc on many boomers' retirement nest eggs. Cutbacks on savings plans at work, as well as having to contribute more to healthcare costs, less pay raises and even pay cuts have created fears about having enough money to retire. Some say we can't even truly rely on social security anymore as national debt concerns rise. Fear of not enough money can cause problems with your life today, as well as create a lot of fear based choices that might not be the best for you or your family. Pay off debt before retirement. Zero debt working on a cash basis should be your goal for retirement days.
Earnings for the Week
Monday: No major announcements.
Tuesday: No major announcements.
Wednesday: No major announcements.
Thursday: No major announcements.
Friday: No major announcements.
* Earnings dates and times are subject to change
Economic Data this Week
Monday
Empire Manufacturing @ 8:30 AM for September (Est. = -3.0, Prior = -5.9)
Tuesday
NAHB Housing Market Index @ 10:00 AM for September (Est. = 38, Actual = 37)
Wednesday
MBA Mortgage Index @ 7:00 AM for 09/15 (Est. = n/a, Prior = 11.1%)
Housing Starts @ 8:30 AM for August (Est. = 0.0% to 0.3%, Prior = -0.2%)
Building Permits @ 8:30 AM for August (Est. = 0.0% to 0.3%, Prior = -0.2%)
Existing Home Sales @ 10:00 AM for August (Est. = 0.0% to 0.3%, Prior = -0.2%)
Crude Oil Inventories @ 10:30 AM for 09/15 (Est. = n/a, Prior = 1.994M)
Thursday
Initial Claims @ 8:30 AM for 09/15 (Est. = 375K, Prior = 382K)
Continuing Claims @ 8:30 AM for 09/08 (Est. = 3292K to 3300K, Prior = 3283K)
Philadelphia Fed @ 10:00 AM for September (Est. = -5.0, Prior = -7.1)
Leading Indicators @ 10:00 AM for August (Est. = 0.0%, Prior = 0.4%)
Friday
No scheduled announcements.
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