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Money Talk Podcast, Friday Oct. 4, 2013

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Landaas & Company newsletter  October edition now available.

Advisors on This Week’s Show

Brian Kilb

Dave Sandstrom

Kyle Tetting

(with Max Hoelzl and Joel Dresang)

Week in Review (Sept. 30-Oct. 4, 2013)

Significant economic indicators & reports

Monday

No significant reports released

Tuesday

Manufacturing expanded more than expected in September, its fourth consecutive month of growth, reaching its highest level since April, according to the Institute for Supply Management. Boosted by accelerating growth in production and hiring, the purchasing managers’ index showed optimism for business prospects in a vital sector of the economy.

Auto dealers sold an annualized rate of 15.2 million vehicles in September, according to Auto Data Corp. That fell below analyst forecasts and was down from particularly strong sales in August as the model year ran out. Still, the rate exceeded the 30-year average and was 3% higher than the year before, indicating continued momentum from a big driver in U.S. manufacturing production.

vehicle sales 9.13
Wednesday

Along with signs of renewed growth in the manufacturing sector, non-manufacturing expanded for the 45th month in a row in September. The Institute for Supply Management said the sector employing 90% of the nation’s workers slowed down from August, which had the fastest pace in eight years.

Thursday

With the shutdown of the federal government, most economic reports – and even data collection – have been suspended. However, the Labor Department said the moving four-week average for initial unemployment claims dropped to its lowest point since May 2007. A leading indicator of unemployment, the average suggests continued reluctance by employers to let workers go, although hiring has been lukewarm.

Friday

No significant reports released

Where the Markets Closed for the Week

  • Nasdaq – 3,808, up 26 points or 0.7%
  • Standard & Poor’s 500 – 1,691, unchanged
  • 10-year U.S. Treasury Note – 2.65%,  up 0.3 point
  • Dow Jones Industrial Average – 15,073, down 185 points or 1.2%

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