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WEEKLY QUOTE
It is better to offer no excuse than a bad one. - George Washington
WEEKLY TIP
In a divorce, a 50-50 split of marital assets is not always fair. One spouse may have much greater income potential than the other, and that should be considered in a settlement.
In the wake of the Labor Departments disappointing March employment report, puzzled analysts tried to figure out the reasons for such poor job growth. Did businesses fear the impact of the federal budget cuts in March and scale back hiring? Were there fewer food service, retail and temporary job openings? (More than 7% of Americans work in food service jobs, and temp work has made up a larger share of employment in recent years.) Was it seasonal, since hiring also declined in spring 2011 and spring 2012? Would the number later be revised upward? Whatever the cause(s), the message was troubling. The jobless rate dipped to 7.6%, but that was because of fewer jobseekers the labor force participation rate was 63.3% in March, a 34-year low.1
In another disconcerting development, the Institute for Supply Managements manufacturing and service sector PMIs both retreated last month. ISMs manufacturing PMI fell to 51.3 from the previous 54.2, while its non-manufacturing PMI dipped 1.6 points to 54.4. On the upside, the Commerce Department did note a 3.0% rise in factory orders in February.2,3
WEEKLY RIDDLE
They have not flesh, nor feathers, nor scales, nor bone. Yet they have fingers and thumbs of their own. What are they?
Last weeks riddle: Which positive whole number can you add 1.5 to and get the same result as you do when you multiply it by 1.5? Last weeks answer: 3.
NYMEX crude settled at $92.70 a barrel Friday, representing a 4.7% five-day loss. COMEX gold gained 1.5% Friday to end the week at $1,575.90 an ounce but still slipped 1.2% last week.4
10 YR TIPS
-0.74%
-0.08%
1.18%
2.16%
Sources: cnbc.com, bigcharts.com, treasury.gov - 4/5/135,6,7,8 Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends.
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Citations.
1 - www.nytimes.com/2013/04/06/business/economy/us-adds-only-88000-jobs-jobless-rate-falls-to-7-6.html [4/5/13] 2 - www.ism.ws/ISMReport/NonMfgROB.cfm [4/3/13] 3 - www.reuters.com/article/2013/04/02/us-economy-factory-orders-idUSBRE9310HV20130402 [4/2/13] 4 - www.proactiveinvestors.com/companies/news/42403/oil-drops-gold-rises-on-us-jobs-report-42403.html [4/5/13] 5 - www.cnbc.com/id/100619132 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F5%2F12&x=0&y=0 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F5%2F12&x=0&y=0 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F5%2F12&x=0&y=0 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F4%2F08&x=0&y=0 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F4%2F08&x=0&y=0 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F4%2F08&x=0&y=0 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F4%2F03&x=0&y=0 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F4%2F03&x=0&y=0 [4/5/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F4%2F03&x=0&y=0 [4/5/13] 7 - www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [4/5/13] 8 - www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [4/5/13]
Partner
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Doug Potash is a Registered Representative offering securities through Cambridge Investment Research, Inc., Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a federally registered investment advisor. Cambridge and Premier Planning Group are not affiliated.