Wednesday, December 26, 2012

Weekly Newsletter December 23rd - December 29th

Current Events: Stocks slid last week and gave back solid progress made during the month of December as the heavily publicized fiscal cliff draws near. This after the U.S. markets made a steady rebound from a sharp October-November dip.

What to Look for This Week

The holiday season is in full bloom and with the NYSE and other popular exchanges closed on December 25th in observance of Christmas, there is little on the docket this week from an earnings and economic reports perspective to distract investors from the saga that is the fiscal cliff countdown.

News Affecting the Markets

Although President Obama and his family are spending the holiday in Hawaii, the House and Senate are due back in Washington on Thursday, after their Christmas break. All sides are publicly stating that they are willing to talk and do what is best for the American people, yet a comprise may not be reached in time as the fiscal cliff is now just a week away.

Smart Investing

Taxing a Retirement Plan - Now or Later? : Deciding which type of 401K plan you wish to open is a matter of preference. It should be decided based on how you are willing to save for your future. The most popular types of retirement accounts are the Traditional 401K and the Roth 401K. In a nutshell the main difference between these two types of accounts is in the way in which they are taxed. To determine which one the right one is for them many people ask the famous question “Do I want to eat my cake now, or later?” This question refers to the time value of money. We should all be aware that inflation and taxes affect the future value of the dollar. This is why when you are thinking about opening a 401K account you need to decide if you want more money now or later?

Earnings for the Week

Monday: No major announcements scheduled.

Tuesday: No major announcements scheduled.

Wednesday: No major announcements scheduled.

Thursday: No major announcements scheduled.

Friday: No major announcements scheduled.
* Earnings dates and times are subject to change

Economic Data this Week

Monday
No major announcements scheduled.

Tuesday
No major announcements scheduled.

Wednesday
MBA Mortgage Index @ 7:00 AM for 12/22 (Est. = n/a, Prior = n/a)
Case-Shiller 20-city Index @ 9:00 AM for October (Est. = 3.0% to 3.9%, Prior = 3.0%)

Thursday
Initial Claims @ 8:30 AM for 12/22 (Est. = 365K to 371K, Prior = 361K)
Continuing Claims @ 8:30 AM for 12/15 (Est. = 3200K, Prior = 3225K)
New Home Sales @ 10:00 AM for November (Est. = 379K to 390K, Prior = 368K)
Consumer Confidence @ 10:00 AM for December (Est. = 68.0 to 70.0, Prior = 73.7)
Natural Gas Inventories @ 10:30 AM for 12/22 (Est. = n/a, Prior = -82)

Friday
Chicago PMI @ 9:45 AM for December (Est. = 51.0, Prior = 50.4)
Pending Home Sales @ 10:00 AM for November (Est. = 1.0%, Prior = 5.2%)
Crude Inventories @ 11:00 AM for 12/21 (Est. = n/a, Prior = -0.964M)

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