“You work hard for your money. We’ll work hard to protect it.”
Market Direction Is Important –
Updated Chart of the S&P 500 and Secondary Signals
Of our Four secondary indicators under our MTI:
Relative Strength Index (RSI)-Positive
Chaikin Money Flow (CMF)-Positive
Money Flow Index-MFI-Positive
More on the Market and the Economy:
Stocks rose on Friday, finishing a turbulent week with modest gains, as the April jobs report was healthy, but not enough to lead the market to believe the Fed will hike rates sooner.
This week, data will be released on small business optimism, business inventories, industrial production and the Job Openings and Labor Turnover Survey.
The Federal Reserve should wait till 2016 to hike rates, according to Chicago Fed President Charles Evans. Speaking on Thursday, Evans said that the Fed shouldn’t be in a rush to hike rates because of “uncertainty”, and that “accommodation is helping the economy move up. And if inflation were to pick up more strongly than I’m expecting, we know how to deal with that”.
Social Security is worse than everyone thought, according to studies from Harvard and Dartmouth. While the Social Security Administration projects that its trust fund will be depleted in 2033, the studies concluded that those projections “overestimated the assets in the program and overestimated solvency”.
Social Security benefits in the US are pretty low compared to other advanced countries, ranking 31st out of 34, according to a tally from the OECD. While the average OECD nation has a public pension program that replaces 58% of earnings, social security in the US is just two-thirds of that.
AOL released its quarterly earnings on Friday, which showed that 2.1 million people in the US still use AOL dial-up to connect to the internet. And costumers are still paying for that connection – the average dial-up user pays $20 a month. The decline of dial-up has been slow over the past few years: in 2010, AOL counted 4.6 million dial-up users, and just 500,000 leave every year. At that pace, there will still be dial-up users in 2019.
Friday marked a milestone anniversary of the Allied nations’ victory in Europe:
An interesting infographic on how much world leaders are paid: