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The end of summer is in sight, but it's not here yet! Savor this last month of warmer weather and living life at a slower pace. And, get inspired with these bucket list ideas...
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Stocks retreated slightly last week as investors digested mixed economic news. New home sales and prices rose and consumer confidence soared, but capital goods orders contracted, reflecting weakness in the manufacturing sector. GDP expanded at an annual pace of 2.6%, slightly below expectations, and the first quarter rate was revised lower to 1.2%.
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> US GDP:
Gross domestic product, a broad measure of goods and services produced in the US, expanded at a 2.6% annual rate in the second quarter, the Commerce Department said Friday, a rebound after a tepid start to the year.
Consumers did much of the heavy lifting in Q2 by increasing their spending, helped by a steady labor market. Personal consumption, which makes the biggest contribution to growth, rose by 2.8% and b
usiness spending also made a positive contribution to growth, as it increased by 5.2%.
> Fed Balance Sheet:
On Wednesday, the Fed kept the fed funds target range at 1.00%-1.25%. The committee noted that they expect to begin paring their balance sheet "relatively soon," which was interpreted by many to mean September. While the Fed's balance sheet has stayed mostly unchanged in 2017, the S&P 500 has continued to climb, surging roughly 11% year-to-date. The fact that stock indexes continue to make new highs as the Fed prepares to shrink its balance sheet may be troublesome.
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The World's First Emoji?
The Hittites, a culture that ruled much of present-day Turkey and Syria during Biblical times, might be best known for waging war on the Israelites and Egyptians and for their skill
handling war chariots. When it comes to the day-to-day life of Hittites, though, archaeologists know comparatively little.
But a newly restored jug shows that they weren't just grim-faced warriors. The 3,700-year-old piece of ceramic has what is believed to be a smiley face painted on it, reports
Amanda Borschel-Dan at The Times of Israel.
"We have found a variety of cubes and urns. The most interesting of them is a pot dating back to 1700 BC that features an image of a 'smile' on it," Nicolo Marchetti, an archaeology professor at the University of Bologno in Italy, tells Kocalar. "The pot was used for drinking sherbet [sweet drink]. Most probably, [this depicts] the oldest smile of the world."
Read the full article from Smithsonian.com here.
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New Market Wealth Management offers modern investment solutions backed by extensive research and experience serving the needs of wealthy families. Through our strategic partnership with
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, we provide institutional-quality research, investment due diligence and asset allocation tools. We believe this level of experience and unique access to in-depth, sophisticated research are essential for success in today's complex world markets.
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