Truth in Wealth Building

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Tight new home inventory

The rally of yesterday is looking at a second day in early trading. Tuesday the S&P 500 had its biggest one-day gain since March 11th. (Seeking Alpha) New single-family home sales surged 16.6% to an annual rate of 619,000 units, the highest level since January 2008. Prices hit a record high. With tight supply, the…

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Yuan not a Market Currency

Best Buy’s first-quarter profits climbed 78% to $229 million. Sales fell 1.3% to $8.4 billion in the quarter. Sales at U.S. Best Buy stores open at least a year fell 0.1%. The stock is down over 5% in early trading on a poor sales forecast going forward and the departure of the CFO. (USA Today)…

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Starting a new week on an up note

Stocks are essentially flat this morning. Friday’s surge pushed the S&P 500 to break a three-week losing streak and the Nasdaq to end a streak of four down weeks in a row. (CNBC) U.S. existing home sales increased 1.7% in April to an annual rate of 5.45 million units. Home sales surged in the Midwest…

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Financial Focus Hour 2 May 21

Hour 2 of the truth in wealth building continues

Lots of money being borrowed

Those green machines, Deere & Co, cut its money making forecast as they suffer through a global farm recession and weak construction equipment markets. The company forecast 2016 sales will decline 9%. Deere profits fell to $495.4 million. Sales decreased 4% to $7.88 billion. (Reuters) The index of leading economic indicators shot up 0.6% in…

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Walmart posts good numbers

Yesterday was a choppy ride as Mr. Market clearly forgot to take his medication. The Dow, was up over 100 points ahead of the minutes of the last Federal Reserve meeting, swung more than 200 points to 100 points into the red, before closing the trading session little changed. (CNBC) Walmart’s profits fell in the…

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