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Money Talk Podcast, Friday May 10, 2013

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Landaas & Company newsletter  May edition now available.

Advisors on This Week’s Show

Brian Kilb

Marc Amateis

Art Rothschild

(with Max Hoelzl and Joel Dresang)

Week in Review (May 6-10, 2013)

Significant economic indicators & reports

Monday

No major releases

Tuesday

The Federal Reserve reported that consumer credit grew by nearly $8 billion in March, which was less than analysts had expected. The debt expansion continues to be concentrated in non-revolving debt such as car financing and – the biggest factor – student loans. Credit card debt, which is a sign of consumer confidence, fell.

revolving credit 3.13

Wednesday

No major releases

Thursday

The Commerce Department said wholesale inventories rose 0.4% in March, reversing a decline in February. But warehouses filled more than demand warranted, with sales at the wholesale level falling 1.6%. The resulting ratio of wholesale inventories increased slightly, meaning companies are less likely to raise production or add workers if demand picks up.

The moving four-week average for initial unemployment claims dipped to its lowest point since January 2008, providing another sign that employers are reluctant to let workers go. Labor Department data showed jobless claims declining for three weeks in a row, maintaining a level below the historical average, which is a positive indicator for employment markets, though hiring remains constrained.

Friday

No major releases

Where the Markets Closed for the Week

  • Nasdaq – 3,437, up 58 points or 1.7%
  • Standard & Poor’s 500 – 1,633, up 19 points or 1.2%
  • 10-year U.S. Treasury Note – 1.89%, up 0.14 point
  • Dow Jones Industrial – 15,114, up 142 points or 0.9%

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