ECONOMIC CALENDAR:Monday: PMI Manufacturing Index, ISM Manufacturing Index, Construction Spending Tuesday: Motor Vehicle Sales, Personal Income and Outlays Wednesday: ADP Employment Report, ISM Non-Manufacturing Index, EIA Petroleum Status Report Thursday: Jobless Claims, Factory Orders Friday: Employment Situation, International Trade
- Weekly jobless claims rise. The number of Americans filing claims for new unemployment benefits rose by 14,000, but the underlying trend still shows strength in the labor market.
- Consumer sentiment drops in July. A measure of how consumers feel about the U.S. economy slipped as worries about the Brexit and the presidential election weighed on Americans.
- June new home sales surge. Sales of new single-family homes rose to the highest levels in nearly 8-1/2 years. Sales were up 25.4% over June 2015, indicating that the housing market may be gaining momentum.
- Durable goods plunge in June. Orders for long-lasting manufactured goods dropped, indicating weak overseas demand is affecting U.S. factories. Economists had predicted a 1.4% decline over June, but orders for goods like aircraft, appliances, and machinery actually fell 4.0%.
Quote Of The Week
“Eighty percent of success is showing up.” – Woody Allen
Recipe Of The WeekSweet Berry Yogurt Twist Pops These creamy pops are perfect for a summer evening! Makes 6 pops Ingredients: 1 pound of fresh or frozen blueberries, blackberries, or other ripe berry, rinsed with stems removed 1/4 cup granulated white sugar 2 6-ounce cups custard-style or Greek lemon, honey, or vanilla yogurt 1/2 cup whole milk Directions: In a medium bowl, mix the berries with sugar, crushing them slightly with the back of a spoon. Set aside for 30 minutes to macerate. Whisk together the milk and yogurt until smooth and creamy. Set aside 1/3 of the berry mixture. Puree the rest in a blender until smooth. Mix in the reserved berries. Using small paper cups or popsicle molds, alternate layers of yogurt and berry mixture, stirring a toothpick at the end to create a swirl effect. Insert popsicle sticks or plastic knives and cover. Freeze until firm for about three hours or overnight. Recipe adapted from Maureen Callahan | RealSimple.com
Tax TipsTax Tips for Vacation Rentals The IRS generally requires that you report all rental income on your tax return. However, if you only occasionally rent out a property for short periods of time and use it as a home for the rest of the year, you may not have to report the income. Here’s what the IRS says about vacation homes: A vacation property is defined as “a house, apartment, condominium, mobile home, boat, or similar property.” If you rent out a home for less than 15 days per year and use it as a home the rest of the time, you may not need to report the income. If your house is considered a rental property, you may deduct rental expenses related to the property from your taxes as long as they do not exceed the income received. If you also use the house as a home, you must segregate expenses accrued during the personal use period. Personal use may include use by family, friends, or anyone who pays you less than market rate in rent. For more information about tax issues around rental or vacation homes, consult a tax professional in your area or see IRS Publication 505, Publication 527, “Residential Rental Property (Including Rental of Vacation Homes).” Tip courtesy of IRS.gov
Golf TipIn The Rough? Think Wedge. When you find yourself in the deep rough, it’s hard to get out using longer irons or fairway woods. Why? Because longer clubs need a shallow angle of attack, causing you to put too much rough between the clubhead and the ball. The angle makes it very hard to get the ball airborne and robs the shot of power and distance. Next time you find yourself in the rough, reach for a high-lofted iron or your wedge, which uses a short, steep angle, allowing you to pitch the ball up and out to a comfortable distance. Tip courtesy of Bobby Hinds, PGA | Golf Tips Mag
Healthy LifestyleLive “Superlong” With These Longevity Tips Geriatrician Harvey Jay Cohen, M.D. says that staying healthy as you age is strongly influenced by your attitude and a healthy lifestyle. Here are some tips for tilting the longevity odds in your favor:
- Laugh often: Studies show that laughter reduces stress and improves your immune system function.
- Sleep late: Research suggests that adults 50 and older who get six to nine hours of sleep think better and have stronger brain function.
- Lose the middle: The circumference of your waist is a big predictor of current and future health. Dropping some extra weight may help you live a longer, healthier life.