Presents:

WEEKLY ECONOMIC UPDATE

WEEKLY QUOTE

Find your place and
le! !"e #orld
$ra%i!a!e !o you&'

- Diana Vreeland


WEEKLY TIP

I( you)re curiou*
a+ou! #"a!
re!ire,en! ,i$"! +e
li-e "o# a+ou!
arran$in$ a pre%ie#.
T"in- a+ou! !a-in$ a
/0#ee- %aca!ion or
e%en a lon$er +rea-
(ro, #or- 1your
+u*ine** or e,ployer
per,i!!in$2&


WEEKLY 3IDDLE

W"a! do !"e #ord*
civic and level "a%e
in co,,on.


Last weeks riddle:
T"ere are !#o o( !"e,
and one can u*ually *ee
#"a! !"e o!"er *ee* +u!
!"ey can ne%er *ee eac"
o!"er& W"a! are !"ey.

Last weeks answer:
Eye*&
4uly 5 6789

DOW TOPS 17,000 AFTER TERRIFIC O!S REPORT
A,erica)* :o+le** ra!e i* (a*! approac"in$ !"e Federal 3e*er%e)* ;< !ar$e!& T"an-* !o
e,ployer* addin$ 6==777 ne# "ire* une,ploy,en! dropped 7&6< !o ;&8< in
4une& T"e U0; ra!e 1une,ployed > undere,ployed2 declined !o 86&8< a lo# un*een
*ince Oc!o+er 677=? (ro, 4une 678/ !o 4une 6789 !"e nu,+er o( A,erican* ou! o(
#or- (or ,ore !"an *i@ ,on!"* *"ran- +y 8&6 ,illion& T"e ne#* "elped in*pire a
rallyA a! !"e clo*in$ +ell Friday !"e Do# *e!!led a! a ne# all0!i,e "i$" o( 857;=&6;&
86

IS" I#DICES SI#$ SLI%&TL'
T"e In*!i!u!e (or Bupply Mana$e,en!)* la!e*! (ac!ory *ec!or and *er%ice *ec!or PMI*
didn)! Cui!e ,ee! e@pec!a!ion* +u! !"ey #ere *!ill #ell a+o%e D7 1!"e de,arca!ion
+e!#een *ec!or $ro#!" and con!rac!ion2& IBM)* ,anu(ac!urin$ PMI ca,e in a! DD&/
(or 4une !ic-in$ do#n 7&8 poin!* (ro, May? i!* non0,anu(ac!urin$ PMI "ad a 4une
readin$ o( D;&7 co,pared !o May)* D;&/ ,ar-& Econo,i*!* polled +y Mar-e!Wa!c"
"ad (oreca*! 4une)* IBM (ac!ory PMI !o "i! DD&5 and e@pec!ed no c"an$e in i!* *er%ice
*ec!or PMI& Fac!ory order* al*o decrea*ed in May a* !"e Federal 3e*er%e repor!ed
an 7&D< re!rea! (ollo#in$ !"e 7&=< ri*e in April&
/

PE#DI#% &O"E SALES ("P )*1+
T"e May $ain #a* !"e $rea!e*! ,on!"ly i,pro%e,en! no!ed +y !"e Na!ional
A**ocia!ion o( 3eal!or* *ince April 6787 1#"en !"e (ir*!0!i,e +uyer !a@ credi! #a* *e!
!o e@pire2& Analy*!* polled +y Eloo,+er$ +elie%ed May #ould +rin$ a $ain o( 8&D<&
9

#EW ,(ARTER, #EW %AI#S
Wi!" a 6&77< ri*e acro** (our !radin$ day* !o 99=D&F6 !"e Na*daC *e! !"e pace (or
!"e +i$ !"ree U&B& indice* la*! #ee-& T"e Do# $ained 8&6=< on i!* #ay !o Friday)*
record clo*e and !"e BGP D77 added 8&6D< durin$ !"e #ee- !o *e!!le a! 8F=D&99 on
4uly /&
D

T&IS WEE$A No econo,ic repor!* or earnin$* relea*e* are *c"eduled (or Monday
+u! re*ul!* (ro, Alcoa and T"e Con!ainer B!ore -ic- o(( !"e Q6 earnin$* *ea*on on
Tue*day& Minu!e* (ro, !"e 4une Fed policy ,ee!in$ arri%e Wedne*day& T"ur*day
earnin$* (ro, Pro$re**i%e and Fa,ily Dollar co,ple,en! !"e la!e*! ini!ial clai,*
nu,+er* and !"e Cen*u* Eureau)* repor! on May #"ole*ale in%en!orie*& Friday
+rin$* Q6 re*ul!* (ro, Fa*!enal and Well* Far$o&

% CHANGE Y-T-D 1-YR CHG 5-YR AVG 10-YR AVG
DJIA +2.97 +13.88 +21.22 +6.60
NASDAQ +7.41 +30.27 +29.94 +12.36
S&P 500 +7.42 +22.91 +24.30 +7.64
REAL YIELD 7/3 RAT 1 YR AG! 5 YRS AG! 10 YRS AG!
10 YR TIPS 0.37" 0.48" 1.87" 1.96"

S#$%&'() *SAT!DAY.&#+, -./&01%2(.&#+, 2%'1($%3./#4 - 7/3/14
2,6,7,8
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&:$6' 6.4.6'56(.
85921
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T"i* ,a!erial #a* prepared +y Mar-e!in$Pro Inc& and doe* no! nece**arily repre*en! !"e %ie#* o( !"e pre*en!in$ par!y nor !"eir
a((ilia!e*& T"i* in(or,a!ion "a* +een deri%ed (ro, *ource* +elie%ed !o +e accura!e& Plea*e no!e 0 in%e*!in$ in%ol%e* ri*- and pa*!
per(or,ance i* no $uaran!ee o( (u!ure re*ul!*& T"e pu+li*"er i* no! en$a$ed in renderin$ le$al accoun!in$ or o!"er pro(e**ional *er%ice*&
I( a**i*!ance i* needed !"e reader i* ad%i*ed !o en$a$e !"e *er%ice* o( a co,pe!en! pro(e**ional& T"i* in(or,a!ion *"ould no! +e
con*!rued a* in%e*!,en! !a@ or le$al ad%ice and ,ay no! +e relied on (or !"e purpo*e o( a%oidin$ any Federal !a@ penal!y& T"i* i* nei!"er
a *olici!a!ion nor reco,,enda!ion !o purc"a*e or *ell any in%e*!,en! or in*urance produc! or *er%ice and *"ould no! +e relied upon a*
*uc"& All indice* are un,ana$ed and are no! illu*!ra!i%e o( any par!icular in%e*!,en!& T"e Do# 4one* Indu*!rial A%era$e i* a price0
#ei$"!ed inde@ o( /7 ac!i%ely !raded +lue0c"ip *!oc-*& T"e NABDAQ Co,po*i!e Inde@ i* an un,ana$ed ,ar-e!0#ei$"!ed inde@ o( all
o%er0!"e0coun!er co,,on *!oc-* !raded on !"e Na!ional A**ocia!ion o( Becuri!ie* Dealer* Au!o,a!ed Quo!a!ion By*!e,& T"e B!andard
G PoorH* D77 1BGP D772 i* an un,ana$ed $roup o( *ecuri!ie* con*idered !o +e repre*en!a!i%e o( !"e *!oc- ,ar-e! in $eneral& I! i* no!
po**i+le !o in%e*! direc!ly in an inde@& NYBE Iroup Inc& 1NYBEANYJ2 opera!e* !#o *ecuri!ie* e@c"an$e*A !"e Ne# Yor- B!oc- E@c"an$e
1!"e NYBE'2 and NYBE Arca 1(or,erly -no#n a* !"e Arc"ipela$o E@c"an$e or ArcaE@K and !"e Paci(ic E@c"an$e2& NYBE Iroup i* a
leadin$ pro%ider o( *ecuri!ie* li*!in$ !radin$ and ,ar-e! da!a produc!* and *er%ice*& T"e Ne# Yor- Mercan!ile E@c"an$e Inc& 1NYMEJ2
i* !"e #orldH* lar$e*! p"y*ical co,,odi!y (u!ure* e@c"an$e and !"e pree,inen! !radin$ (oru, (or ener$y and preciou* ,e!al* #i!"
!radin$ conduc!ed !"rou$" !#o di%i*ion* L !"e NYMEJ Di%i*ion "o,e !o !"e ener$y pla!inu, and palladiu, ,ar-e!* and !"e
COMEJ Di%i*ion on #"ic" all o!"er ,e!al* !rade& Addi!ional ri*-* are a**ocia!ed #i!" in!erna!ional in%e*!in$ *uc" a* currency
(luc!ua!ion* poli!ical and econo,ic in*!a+ili!y and di((erence* in accoun!in$ *!andard*& T"i* ,a!erial repre*en!* an a**e**,en! o( !"e
,ar-e! en%iron,en! a! a *peci(ic poin! in !i,e and i* no! in!ended !o +e a (oreca*! o( (u!ure e%en!* or a $uaran!ee o( (u!ure re*ul!*& Pa*!
per(or,ance i* no $uaran!ee o( (u!ure re*ul!*& In%e*!,en!* #ill (luc!ua!e and #"en redee,ed ,ay +e #or!" ,ore or le** !"an #"en
ori$inally in%e*!ed& All econo,ic and per(or,ance da!a i* "i*!orical and no! indica!i%e o( (u!ure re*ul!*& Mar-e! indice* di*cu**ed are
un,ana$ed& In%e*!or* canno! in%e*! in un,ana$ed indice*& T"e pu+li*"er i* no! en$a$ed in renderin$ le$al accoun!in$ or o!"er
pro(e**ional *er%ice*& I( a**i*!ance i* needed !"e reader i* ad%i*ed !o en$a$e !"e *er%ice* o( a co,pe!en! pro(e**ional&

Citati-ns*
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85921