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Economic Update 10/22/14


Ebola fears and a choppy stock market haven’t quite rattled household optimism. At a reading of 86.4 (its highest in more than seven years), the University of Michigan’s initial October consumer sentiment index confounded analysts who expected a decrease from September’s final 84.6 mark. Consensus forecasts from MarketWatch and both predicted a retreat to 83.5. September’s 0.3% slip in retail sales remained a consumer question mark, especially after August’s 0.6% gain.


September’s gain doubled the forecast from and more than made up for the 0.2% August dip. Elsewhere on the factory front, the September edition of the Producer Price Index retreated 0.1% with the core PPI being flat.


The Census Bureau announced a 1.5% rise in building permits for September plus a 6.3% improvement in groundbreaking. The latter gain put the annualized rate for housing starts back above the 1 million level.


Even with Friday’s huge gain, the blue chips fell 0.99% across five days to 16,380.41. The week also saw retreats for the NASDAQ (0.42% to 4,258.44) and S&P 500 (1.02% to 1,886.76).

THIS WEEK: Monday, Wall Street considers earnings from Apple, Chipotle, IBM, Boise Cascade, Gannett, Halliburton, Texas Instruments and Hasbro. September existing home sales numbers and China’s Q3 GDP reading appear Tuesday, plus earnings from Coca-Cola, E*TRADE, Lockheed Martin, Harley-Davidson, Verizon, Yahoo!, Whirlpool, RadioShack, Kimberly-Clark, Six Flags Entertainment and McDonald’s. The September CPI emerges Wednesday, along with earnings from Stanley Black & Decker, AT&T, Abbott Labs, U.S. Bancorp, General Dynamics, Boeing, Equifax, Dow Chemical, GlaxoSmithKline, Norfolk Southern, Northrop Grumman, Wynn Resorts, Xerox and Yelp. On Thursday, the market studies a new Conference Board LEI index, new initial claims figures and earnings from Comcast, IMAX, 3M, AllianceBernstein, Credit Suisse, Dr. Pepper Snapple,, Caterpillar, Eli Lilly, Dolby Labs, Dunkin Brands, General Motors, JetBlue, Pandora, Microsoft, Nielsen, Nokia, Occidental Petroleum, PulteGroup, Raytheon and Southwest Airlines. Friday, September’s new home sales report joins earnings from Ford Motor Co., UPS, Choice Hotels, Magellan Health, Omnicare, Procter & Gamble, State Street, Bristol Myers Squibb, Colgate-Palmolive, and Avery Dennison.

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Robert Pagliarini, PhD, CFP®, EA has helped clients across the United States manage, grow, and preserve their wealth for the past 25 years. His goal is to provide comprehensive financial, investment, and tax advice in a way that was honest and ethical. In addition, he is a CFP® Board Ambassador, one of only 50 in the country, and a real fiduciary. In his spare time, he writes personal finance books, finance articles for Forbes and develops email and video financial courses to help educate others. With decades of experience as a financial advisor, the media often calls on him for his expertise. Contact Robert today to learn more about his financial planning services.

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