Week of July 23 2012 Economic Update by Major League Investments, Inc.

1. Major League Investments, Inc. Presents:
WEEKLY ECONOMIC UPDATE
July 23, 2012
WEEKLY QUOTE NO ADVANCE IN CONSUMER PRICES
"Live out of your The federal government's Consumer Price Index was flat in June, though the core
imagination, not your CPI (minus food and energy prices) did rise 0.2%. Statistically, this was exactly
history." what economists surveyed by MarketWatch had expected. Annualized inflation was
running at 3.9% back in September; it was just 1.7% in both May and June. 1
- Stephen R. Covey
HOUSING INDICATORS REGISTER HIGHS & LOWS
WEEKLY TIP According to the Commerce Department, housing starts were up 6.9% for June to
If you are serious the highest level since October 2008. The average interest rate on the 30-year FRM
about buying a home, fell to a new record low of 3.53% in Freddie Mac's July 19 survey, as did the average
getting pre-approved rate on the 15-year FRM (2.83%). Existing home sales, however, slipped badly in
by a lender can give June - the National Association of Realtors said the sales volume slowed 5.4% to a
you a better chance of pace unseen in nine months. Sales were still 4.5% improved from a year before. 2
making a serious
offer. RETAIL SALES SLIP 0.5% IN JUNE
They have now declined for three straight months, and a retreat of that length
hasn't been recorded by the Commerce Department since July-December
WEEKLY RIDDLE 2008. Analysts polled by Bloomberg News had forecast an increase of at least
I nearly always lie on 0.2%.3
a surface, and I come
in different shapes STOCKS SLIP FRIDAY BUT GAIN FOR THE WEEK
and sizes, often with Spain's projection of recession into 2013 sent European shares down about 1% on
curves. You can put Friday, with yields on Spanish bonds topping 7%. The Dow fell 121 points on the
me anywhere you like, day, but on the week it rose 0.36% to close at 12,822.57 Friday. The NASDAQ
yet there is only one (+0.58% to 2,925.30) and S&P 500 (+0.43% to 1,362.66) also posted five-day gains.
proper place for me. After a 4.98% weekly gain, NYMEX crude settled Friday at $91.44 per barrel. 4,5
What am I?
THIS WEEK: Earnings season is in full swing, with McDonalds, Hasbro, Baidu,
Halliburton and Texas Instruments offering results Monday. Tuesday, Q2 results
Last week's riddle: are in from Apple, Broadcom, DuPont, UPS, Aflac and AT&T. Wednesday, the
Note this alphabetic Census Bureau publishes June new home sales data and Ford, ConocoPhillips,
progression: B, C, D, E,
G. What letter should
Symantec, PepsiCo, Bristol-Myers, GlaxoSmithKline, Western Digital, Boeing,
then follow as the sixth Caterpillar, VISA, WholeFoods and Zynga issue earnings reports. On Thursday, new
letter in this successive initial claims figures are in along with the latest pending home sales report from the
series? NAR and data on hard goods orders in June; earnings arrive from ExxonMobil, 3M,
Pulte, Sprint, Expedia, Amazon.com, Starbucks, Amgen, Facebook, Dow Chemical,
Last week's answer: AstraZeneca and Credit Suisse, and a Commodity Futures Trading Commission

2. P (the next letter in the emergency meeting will be held in response to the PFGBest scandal. Friday brings
alphabet with the same the final University of Michigan consumer sentiment survey for July, the second
rhyming sound). estimate of Q2 GDP and earnings from Barclays, Merck, DR Horton and Chevron.
% CHANGE Y-T-D 1-YR CHG 5-YR AVG 10-YR AVG
DJIA +4.95 +1.99 -1.49 +5.99
NASDAQ +12.29 +3.95 +1.77 +12.18
S&P 500 +8.35 +2.78 -2.24 +6.07
REAL YIELD 7/20 RATE 1 YR AGO 5 YRS AGO 10 YRS AGO
10 YR TIPS -0.67% 0.62% 2.60% 3.10%
Sources: money.msn.com, bigcharts.com, treasury.gov, treasurydirect.gov - 7/20/124,6,7,8
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Citations.
1 - www.marketwatch.com/story/us-consumer-prices-unchanged-in-june-2012-07-17-81035025 [7/17/12]
2 - minnesota.publicradio.org/display/web/2012/07/19/business/housing-stats/ [7/19/12]
3 - www.sfgate.com/business/bloomberg/article/Retail-Sales-Drop-Unexpectedly-on-Weak-U-S-Job-3710443.php [7/16/12]
4 - money.msn.com/market-news/post.aspx?post=ed48f96d-7a7c-4319-8c50-47ce5224d6c8 [7/20/12]
5 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F20%2F11&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F20%2F11&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F20%2F11&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F20%2F07&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F20%2F07&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F20%2F07&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=7%2F19%2F02&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=7%2F19%2F02&x=0&y=0 [7/20/12]
6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=7%2F19%2F02&x=0&y=0 [7/20/12]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [7/20/12]
7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [7/20/12]

3. 8 - treasurydirect.gov/instit/annceresult/press/preanre/2002/ofm71002.pdf [7/10/02]