- Weekly jobless claims rise more than forecasted. The number of new applications for jobless benefits rose slightly, though claims remained below the important 300,000 line. Since the four-week moving average dropped, the underlying trend still suggests strength in the jobs market.
- Consumer confidence jumps in September. Despite global turmoil, U.S. consumers weren’t fazed and continue to feel positive about their financial prospects.
- Construction spending grows more than expected. Spending on construction grew in August by 0.7%, surprising economists who had expected 0.6% growth. The increase was led by private sector construction, indicating that the economy continues to expand.
- Factory orders drop in August. Factory order, an indication of the health of the manufacturing sector, fell 1.7% in August. Though factory orders are notoriously volatile, economists had projected only a 1.3% drop.
“Business is like a man rowing a boat upstream. He has no choice; he must go ahead or he will go back.” – Lewis E. PiersonTax Tip of the Week: Don’t Miss the October 15 Extension Deadline If you requested an extension on your 2014 taxes, your extra time is about to run out. October 15 is the deadline for most people who requested an automatic 6-month extension on filing their taxes. If you haven’t filed yet, here’s what you need to know: Pay your taxes as soon as possible. Even if you requested an extension, you’re still accruing interest on the taxes you may owe. If you can’t pay all of your taxes right away, consider asking for more time or setting up an installment agreement. If you expect a refund, ask for direct deposit to speed up the refund process and reduce the risk of theft or fraud. The IRS issues more than nine out of 10 refunds in less than 21 days. If you owe taxes, the best way to pay them is using IRS Direct Pay, which is a quick and free way to pay from your checking or savings account. Don’t miss tax benefits in your rush to file. Check to see if you qualify for the Earned Income Tax Credit and the Saver’s Credit. The American Opportunity Tax Credit and other education tax benefits can help you pay for college. For more information about filing your taxes, visit IRS.gov or contact a qualified tax expert. Tip courtesy of IRS.gov Click here to view full newsletter including reference articles, golf tips, our recipe of the week and more! Notes on featured image: All index returns exclude reinvested dividends, and the 5-year and 10-year returns are annualized. Sources: Yahoo! Finance and Treasury.gov. International performance is represented by the MSCI EAFE Index. Corporate bond performance is represented by the DJCBP. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly