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Money Talk Podcast, Friday June 13, 2014

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Landaas & Company newsletter  June edition now available.

Advisors on This Week’s Show

Bob Landaas

Marc Amateis

Steve Giles

(with Max Hoelzl and Joel Dresang)

Week in Review (June 9-13, 2013)

Significant economic indicators & reports

Monday

No significant announcements

Tuesday

In a sign that companies are anticipating rising sales, wholesalers added more than analysts expected to their inventories in April. The Commerce Department said wholesale inventories also grew more than previously estimated in March. In both months, sales outpaced inventory gains, suggesting supply is not getting ahead of demand, which could translate into production and employment boosts if trends continue.

Wednesday

No significant announcements

Thursday

Business inventories also rose in April, slightly behind sales and higher than expected, according to the Commerce Department. The telltale inventory-to-sales ratio suggests businesses are operating a littler leaner, which could require added investments in operations and labor if demand continues to rise.

Separately, the Commerce Department reported that May retail sales rose for the fourth month in a row, slightly lower than analysts’ forecasts but after a much stronger performance in April. Automotive sales led the gain, among six of 13 retail categories to advance. Home and garden centers and furniture stores sold more in May, signs that the housing recovery remains on track.

retail sales 5.14

The moving four-week average for initial unemployment claims rose for the first time in five weeks. But Labor Department data showed jobless claims staying below their long-term average for the 18th consecutive month, suggesting employers overall are reluctant to let workers go.

Friday

The rate of inflation at the wholesale level dipped in May, despite analyst expectations for a slight gain. Both food and energy prices fell for the first time since November, the Bureau of Labor Statistics said. Even without those two volatile categories, the core Producer Price Index declined 0.1% from April. Year-to-year, the wholesale inflation rate of 2% is right about where Federal Reserve policy makers see economic growth as sustainable.

A preliminary read on consumer sentiment by the University of Michigan and Thomson Reuters showed outlooks sinking from May, although relatively cheery views of current conditions improved a bit. Economists monitor consumer feelings because their dispositions can indicate spending patterns.

Where the Markets Closed for the Week

  • Nasdaq – 4,311, down 10 points or 0.2%
  • Standard & Poor’s 500 – 1,936, down 13 points or 0.7%
  • 10-year U.S. Treasury Note – 2.61%, up 0.02 point
  • Dow Jones Industrial – 16,776, down  148 points or 0.9%

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