Clarksville, TN – Next week, the economic calendar picks back up. Retail sales are likely to be the highlight, boosted by stronger vehicle sales in June. Ex-autos, sales results for April and May were disappointing – so we’ll be on the lookout for a rebound (or possibly some revision to the previous figures).
Industrial production data and residential construction figures have some potential to move the markets – they should point to stronger growth in 2Q14.
Indices
| Last | Last Week | YTD return % | |
| DJIA | 16915.07 | 16976.24 | 2.04% |
| NASDAQ | 4396.20 | 4457.73 | 5.26% |
| S&P 500 | 1964.68 | 1974.62 | 6.29% |
| MSCI EAFE | 1943.87 | 1990.23 | 1.48% |
| Russell 2000 | 1161.86 | 1199.50 | -0.15% |
Consumer Money Rates
| Last | 1-year ago | |
| Prime Rate | 3.25 | 3.25 |
| Fed Funds | 0.09 | 0.10 |
| 30-year mortgage | 4.15 | 4.51 |
Currencies
| Last | 1-year ago | |
| Dollars per British Pound | 1.711 | 1.490 |
| Dollars per Euro | 1.361 | 1.282 |
| Japanese Yen per Dollar | 101.320 | 100.080 |
| Canadian Dollars per Dollar | 1.066 | 1.051 |
| Mexican Peso per Dollar | 13.016 | 12.897 |
Commodities
| Last | 1-year ago | |
| Crude Oil | 102.93 | 106.52 |
| Gold | 1342.94 | 1255.37 |
Bond Rates
| Last | 1-month ago | |
| 2-year treasury | 0.44 | 0.36 |
| 10-year treasury | 2.52 | 2.62 |
| 10-year municipal (TEY) | 3.59 | 3.79 |
Treasury Yield Curve – 7/11/2014
S&P Sector Performance (YTD) – 7/11/2014
Economic Calendar
| July 15th | — | Retail Sales (June) Empire State Manufacturing Index (July) Business Inventories (May) |
| July 16th | — | Producer Price Index (June) Industrial Production (June) Fed Beige Book |
| July 17th | — | Jobless Claims (week ending July 12th) Building Permits, Housing Starts (June) |
| July 18th | — | Consumer Sentiment (mid-July) Leading Economic Indicators (June) |
| July 22nd | — | Consumer Price Index (June) Existing Home Sales (June) |
| July 24th | — | New Home Sales (June) |
| Mid-July (tbd) | — | Yellen Monetary Policy Testimony |
| July 30th | — | Real GDP (2Q14 advance and benchmark revisions) FOMC Policy Decision, (no press conference) |
| August 1st | — | Employment Report (July) |
| September 17th | — | FOMC Policy Decision, Yellen Press Conference |
Important Disclosures
US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.
Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.
Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.
Material prepared by Raymond James for use by its financial advisors.
The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business July 10th, 2014.
©2014 Raymond James Financial Services, Inc. member FINRA / SIPC.
