Posts by Robert Pagliarini

Economic Update 09/11/2017

By Robert Pagliarini on September 11, 2017

EQUIFAX BREACH MAY IMPACT 44% of AMERICANS Thursday evening, credit reporting agency Equifax disclosed that hackers had raided its databases this spring, accessing the personal information of up to 143 million people. Equifax believes that about 209,000 credit card numbers may have been collected in the process, plus numerous Social Security and driver’s license numbers.…

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Economic Update 08/28/17

By Robert Pagliarini on August 28, 2017

SUMMER SLOWDOWN HITS HOUSING MARKET Low inventory and high prices are taking a toll on existing home sales. They declined 1.3% in July, according to the National Association of Realtors, making a second straight monthly retreat. In the past 12 months, the number of existing homes on the market has shrunk 9.0%, while the median…

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Won The Lottery? Take the Lump Sum or Annuity Quiz

By Robert Pagliarini on August 23, 2017

If you have won the lottery and want to know if you should take the lump-sum or the annuity (or even if you didn’t win and just want to dream a little), take the online Lump Sum vs. Annuity Quiz and see for yourself!

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Economic Update 08/08/17

By Robert Pagliarini on August 8, 2017

LATEST JOBS REPORT BRINGS GOOD NEWS U.S. payrolls swelled with 209,000 net new workers in July, according to the Department of Labor. That beat the 183,000 estimate by analysts surveyed by Reuters. About 53,000 of the hires were at restaurants and bars, with another 49,000 in the professional and business services category. While yearly wage…

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Economic Update 07/24/17

By Robert Pagliarini on July 25, 2017

WILL STOCKS GET AN EARNINGS BOOST? While the first full week of the Q2 earnings season saw no pronounced rallies, there were also no shocks. By Friday’s closing bell, 20% of S&P 500 member firms had reported calendar Q2 results, and a FactSet analysis showed 77% had topped sales projections and 73% had beaten earnings-per-share…

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Economic Update 07/17/17

By Robert Pagliarini on July 17, 2017

INFLATION PRESSURE WEAKENS The Consumer Price Index was unchanged in June, according to the Bureau of Labor Statistics. That left its yearly advance at only 1.6%, nearly half a point below the Federal Reserve’s target (the core CPI was up 1.7%). After the announcement, some economists and market strategists wondered whether the Fed would rethink…

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Economic Update 07/10/17

By Robert Pagliarini on July 10, 2017

HIRING PICKS UP AGAIN The Department of Labor announced some good news Friday: the creation of 222,000 net new jobs in June, the largest hiring gain in four months. Approximately 4.7 million people reentered the labor force and found work in June, a peak unmatched in 27 years of monthly data. Wages rose 0.2% for…

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Economic Update 06/19/17

By Robert Pagliarini on June 19, 2017

FED DELIVERS EXPECTED & UNEXPECTED NEWS As Wall Street anticipated, the Federal Reserve raised interest rates on June 14. The Federal Open Market Committee voted 8-1 to take the benchmark interest rate north by a quarter-point to the 1.00-1.25% range. The Fed also said it would begin to reduce its $4.5 trillion balance sheet at…

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Economic Update 06/12/17

By Robert Pagliarini on June 12, 2017

AN UPBEAT REPORT ON THE SERVICE SECTOR The Institute for Supply Management’s May non-manufacturing purchasing manager index displayed a reading of 56.9 last week, showing expansion in U.S. service industries for an eighty-ninth straight month. Although the gauge declined 0.6 points from its April mark, it signaled a solid pace of growth. The index’s employment…

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Economic Update 06/05/17

By Robert Pagliarini on June 5, 2017

JOB CREATION, JOBLESS RATE DOWN IN MAY A day after ADP’s employment change report estimated a hiring gain of 253,000 in May, the Department of Labor’s latest jobs report told a far different story. It said employers added just 138,000 workers last month. The U-3 jobless rate fell to a 16-year low of 4.3% in…

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