Presents:

WEEKLY ECONOMIC UPDATE

WEEKLY QUOTE

Success is often the
result of t!in"
#isste$ in the ri"ht
%irection&'

- Al Bernstein


WEEKLY TIP

Sooner or lter( #n)
of us en% u$ $)in"
for ser*ices +e no
lon"er nee%& S)in"
"oo%,)e to those
ser*ices #ens -uic!
s*in"s&


WEEKLY .IDDLE

When I chn"e #)
/c!et( I #!e lou%
noise n% ,eco#e
lr"er( ,ut I +ei"h
less& Wht # I0


Last weeks riddle:
I run ,ut ne*er +l!(
often #ur#ur( ne*er
tl!( h*e ,e% n%
ne*er slee$( h*e
#outh n% ne*er et&
Wht # I0

Last weeks answer:
A ri*er&
1une 23( 4526

UNREST IN IRAQ SENDS OIL TOWARD $107
NYME7 cru%e settle% t 8253&92 :ri%)( u$ 6&2; for the +ee! in rection to the
Sunni<le% ISIS #ilitnt #o*e#ent sei=in" control of Mosul n% other cities in
northern n% estern Ir-& It +s oil>s ,i""est +ee!l) s$i!e since Dece#,er& While
the $rice of unle%e% "soline fell cent for the +ee! to 8?&3@ "llon ccor%in" to
AAA( short<ter# increse see#s i##inent& Ir-i oil su$$lies +ere not seriousl)
i#$cte% s of the +ee!en%A #ost oil $ro%uction in Ir- occurs in the ntion>s
southern hlf( n% Ir- hsn>t eB$orte% oil fro# its northern re"ions since Mrch&
2(4

RETAIL SALES SENTI!ENT INDE" UNDERW#EL!
U&S& retil sles rose 5&?; in M)( ,eneth the 5&C; "in forecst econo#ists $olle%
,) the Wall Street Journal. With cr ,u)in" n% "soline $urchses fctore% out(
the) +ere ctull) flt for the #onth& DIn ,etter ne+s( the Co##erce De$rt#ent
re*ise% A$ril>s retil sles increse north to 5&@; n% sles re u$ 6&?; in the $st 24
#onths&E If consu#er $urchsin" +s ,it %is$$ointin"( so +s the Uni*ersit) of
Michi"n>s initil 1une in%eB of consu#er senti#ent( +hich fell fro# its $re*ious
le*el of F2&9 to F2&4&
?(6

$RODU%ER $RI%ES RETREAT
The Pro%ucer Price In%eB $ulle% ,c! 5&4; for M)( its lr"est %ecline since
Octo,erG the core PPI %i$$e% 5&2; for M)& Hureu of L,or Sttistics %t sho+s
,oth the he%line n% core PPI u$ 4&5; in the $st 24 #onths( ho+e*er&
6

S&$ '00 SNA$S ITS ()WEE* WINNIN+ STREA*
AnBieties ,out Ir- n% su,$r econo#ic in%ictors too! the til+in% fro# the
#r!et lst +ee!& :ri%)>s tr%in" %) en%e% +ith the SIP t 2(9?3&23( the Ns%- t
6(?25&3@ n% the Do+ t 23(CC@&C6& Across fi*e %)s( the SIP retrete% 5&3F;( the
Ns%- 5&4@; n% the Do+ 5&FF;&
@

T#IS WEE*A Mon%) ,rin"s the fe%erl "o*ern#ent>s re$ort on M) in%ustril
out$ut& On Tues%)( the Hureu of L,or Sttistics issues the M) Consu#er Price
In%eB( the Census Hureu releses its re$ort on M) housin" strts n% ,uil%in"
$er#its n% A%o,e n% Mitel re$ort ernin"s& The :e%erl .eser*e +r$s u$ $olic)
#eetin" We%nes%)( +ith $ress conference to follo+G Wll Street +ill lso consi%er
-urterl) results fro# .e% Jt n% :e%EB& Thurs%)( ne+ Conference Hor%
le%in" in%ictor in%eB rri*es lon" +ith the ltest initil cli#s fi"ures n%
ernin"s fro# Orcle( Kro"er( S#ith I Wesson n% Hlc!Herr)& Dr%en .esturnts
n% CrMB nnounce ernin"s :ri%)&

% CHANGE Y-T-D 1-YR CHG 5-YR AVG 10-YR AVG
DJIA +1.20 +10.54 +18.13 +6.23
NASDAQ +3.21 +25.25 +26.43 +11.91
S&P 500 +4.75 +18.32 +20.92 +7.21
REAL YIELD 6/13 RAT 1 YR AG! 5 YRS AG! 10 YRS AG!
10 YR TIPS 0.41" 0.15" 1.91" 2.26"

85303
S#$%&'() *SAT!DAY.&#+, -./&01%2(.&#+, 2%'1($%3./#4 - 6/13/14
6,7,8,9
I56.&'( 1%' $5+151/'6, 6# 5#2 .5&$% 7''( #% '89'5('(, 156 &155#2 -' .54'(2'6 .52# 6.%'&2:3.
T0'(' %'2$%5( 6# 5#2 .5&:$6' 6.4.6'56(.
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This #teril +s $re$re% ,) Mr!etin"Pro( Inc&( n% %oes not necessril) re$resent the *ie+s of the $resentin" $rt)( nor their
ffilites& This infor#tion hs ,een %eri*e% fro# sources ,elie*e% to ,e ccurte& Plese note < in*estin" in*ol*es ris!( n% $st
$erfor#nce is no "urntee of future results& The $u,lisher is not en""e% in ren%erin" le"l( ccountin" or other $rofessionl ser*ices&
If ssistnce is nee%e%( the re%er is %*ise% to en""e the ser*ices of co#$etent $rofessionl& This infor#tion shoul% not ,e
construe% s in*est#ent( tB or le"l %*ice n% #) not ,e relie% on for the $ur$ose of *oi%in" n) :e%erl tB $enlt)& This is neither
solicittion nor reco##en%tion to $urchse or sell n) in*est#ent or insurnce $ro%uct or ser*ice( n% shoul% not ,e relie% u$on s
such& All in%ices re un#n"e% n% re not illustrti*e of n) $rticulr in*est#ent& The Do+ 1ones In%ustril A*er"e is $rice<
+ei"hte% in%eB of ?5 cti*el) tr%e% ,lue<chi$ stoc!s& The NASDAQ Co#$osite In%eB is n un#n"e%( #r!et<+ei"hte% in%eB of ll
o*er<the<counter co##on stoc!s tr%e% on the Ntionl Assocition of Securities Delers Auto#te% Quottion S)ste#& The Stn%r%
I PoorKs @55 DSIP @55E is n un#n"e% "rou$ of securities consi%ere% to ,e re$resentti*e of the stoc! #r!et in "enerl& It is not
$ossi,le to in*est %irectl) in n in%eB& NYSE Lrou$( Inc& DNYSEANY7E o$ertes t+o securities eBchn"esA the Ne+ Yor! Stoc! EBchn"e
Dthe NYSE'E n% NYSE Arc Dfor#erl) !no+n s the Archi$el"o EBchn"e( or ArcEBM( n% the Pcific EBchn"eE& NYSE Lrou$ is
le%in" $ro*i%er of securities listin"( tr%in" n% #r!et %t $ro%ucts n% ser*ices& The Ne+ Yor! Mercntile EBchn"e( Inc& DNYME7E
is the +orl%Ks lr"est $h)sicl co##o%it) futures eBchn"e n% the $ree#inent tr%in" foru# for ener") n% $recious #etls( +ith
tr%in" con%ucte% throu"h t+o %i*isions N the NYME7 Di*ision( ho#e to the ener")( $ltinu#( n% $ll%iu# #r!ets( n% the
COME7 Di*ision( on +hich ll other #etls tr%e& A%%itionl ris!s re ssocite% +ith interntionl in*estin"( such s currenc)
fluctutions( $oliticl n% econo#ic inst,ilit) n% %ifferences in ccountin" stn%r%s& This #teril re$resents n ssess#ent of the
#r!et en*iron#ent t s$ecific $oint in ti#e n% is not inten%e% to ,e forecst of future e*ents( or "urntee of future results& Pst
$erfor#nce is no "urntee of future results& In*est#ents +ill fluctute n% +hen re%ee#e% #) ,e +orth #ore or less thn +hen
ori"inll) in*este%& All econo#ic n% $erfor#nce %t is historicl n% not in%icti*e of future results& Mr!et in%ices %iscusse% re
un#n"e%& In*estors cnnot in*est in un#n"e% in%ices& The $u,lisher is not en""e% in ren%erin" le"l( ccountin" or other
$rofessionl ser*ices& If ssistnce is nee%e%( the re%er is %*ise% to en""e the ser*ices of co#$etent $rofessionl&

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