RSS Facebook Twitter LinkedIn
 


Featured Advisor



Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

Click to see the full profile


Share |

News Analysis for the Investor on June 23, 2014

The Dow approaches a new benchmark, existing-home sales, inventory, stronger in May and Oracle makes a $5.3 billion purchase. Read about these and more of the day's top business news stories.

Existing Home Sales, Inventory Levels Improve in May

Existing-home sales rose 4.9 percent to a seasonally adjusted annual rate of 4.89 million in May, the National association of Realtors announced Monday. This is up from an upwardly-revised 4.66 million in April, but remains 5 percent below the 5.15 million-unit level in May 2013. Total existing-home sales are competed transactions that include single-family homes, townhomes, condominiums, and co-ops. Total housing inventory at the end of May climbed 2.2 percent to 2.28 million existing homes for sale, which represents a 5.6-month supply at the current sales pace, down slightly from 5.7 month in April. Unsold inventory is 6 percent higher than a year ago. The median existing-home price for all housing types in May was $213,400, which is 5.1 percent above May 2013.

New Benchmark for Dow?

The Dow Jones industrial average, and index of 30 of the U.S.’s biggest and best-known brands, is about 50 points away from crossing an unprecedented 17,000, CNN reports. The Dow, as well as the S&P 500 index, closed at record highs on Friday. Less than six months ago, the Dow crossed 16,000. It rose above 15,000 just over a year ago. The numbers are not considered by analysts to be technically important, CNN states, “but they are a good indication of the current mood among investors. The VIX, the market’s so-called fear gauge, is at the lowest levels in seven years. Stocks got a further boost jumped Wednesday after Federal Reserve chief Janet Yellen reiterated that the central bank is unlikely to hike interest rates in the near future.

Bank of America to Expand Customer Rewards Program

Bank of America is expected to announce Monday it will lower the threshold for existing consumers who qualify for discounts on loans and other benefits, Reuters reports Clients who have at least $20,000 in deposits and investments at the bank will be eligible for the benefits, according to an advance announcement reviewed by the news agency. The changes will be phased in starting this week. Previously, the threshold was a minimum of $50,000 in deposits and investments. The bank is offering lower rates on mortgages and home equity loans, higher interest rates on savings accounts and free stock trades to members of its new "preferred rewards" program.by the beginning of October.

Oracle to Acquire MICROS for $5.3 Billion

Tech giant Oracle confirmed it will acquire software company MICROS Systems for $5.3 billion, USA TODAY reports. The 40 year-old Maryland-based company specializes in providing technology for the hospitality and retail industries, such as point-of-sale, ecommerce and management software. The acquisition is Oracle’s biggest since buying Sun Microsystems in 2010 for $7.4 billion. Last week, Oracle reported disappointing fourth quarter results, including $11.3 billion in revenue. The deal is expected to close during the second half of 2014.

Three Automakers Issue Recalls

Honda, Mazda and Nissan announced recalls of millions of vehicles globally for defective airbags manufactured by supplier Takata Corp. that could possibly explode, The Associated Press reports. .No accidents have been reported related to the recalls. Honda Motor Co. recalled 2.03 million vehicles for the airbag problem, including 1.02 million in North America and nearly 669,000 in Japan. The airbags were manufactured between 2000 and 2005. Nissan Motor Co. recalled 755,000 vehicles globally manufactured from 2001 through 2003, while Mazda Motor Corp. recalled nearly 160,000 vehicles manufactured from 2002 through 2004. Toyota's affected models include the Corolla, Matrix, Tundra, Yaris and Camry. The models recalled at Honda include the Fit, Element and CR-V, while those at Nissan are the Cube, X-Trail and some Infiniti models. Recalled at Mazda were the Atenza and RX-8.

Big Studios Don’t Cry: “Jersey Boys” Flat in Opening Weekend

“Boys” to “Man,” it was a lackluster weekend at the U.S. box office. The weekend’s big winner, despite poor reviews, was “Think Like a Man Too, a sequel that cost $24 million to produce and brought in $30 million. Sequels also filled the second and third spots, “22 Jump Street” and “How to Train Your Dragon 2.” “Jersey Boys,” based on the popular Broadway musical, and directed by Clint Eastwood, came in fourth to the tune of $13.5 million. The film cost $40 million to produce. Disney’s “Maleficent,” came in fifth. Overall, domestic box office hit roughly $151 million, down 37.4 percent from the same period a year ago, Variety reports. That weekend’s top releases were “World War Z” and Pixar’s “Monsters University.” Next weekend’s big release is yet another sequel, “Transformers: Age of Extinction.”

 

Existing Home Sales, Inventory Levels Improve in May

 Existing-home sales rose 4.9 percent to a seasonally adjusted annual rate of 4.89 million in May, the National association of Realtors announced Monday. This is up from an upwardly-revised 4.66 million in April, but remains 5 percdent belowe the 5.15 million-unit level in May 2013. Total existing-home sales are competed transactions that include single-family homes, townhomes, condominiums, and co-ops. Total housing inventory at the end of May climbed 2.2 percent to 2.28 million existing homes for sale, which represents a 5.6-month supply ath the current sales pace, down slightly from 5.7 month in April. Unsold inventory is 6 perdcent higher than a year ago.  The median existing-home price for all housing types in May was $213,400, which is 5.1 percent above May 2013.