ECONOMIC CALENDAR:Monday: Housing Market Index, Treasury International Capital Tuesday: Housing Starts Wednesday: EIA Petroleum Status Report Thursday: Jobless Claims, Philadelphia Fed Business Outlook Survey, Existing Home Sales Friday: PMI Manufacturing Index Flash
- Retail sales jump 0.6%. U.S. retail sales rose more than expected last month, supporting the view that the economy experienced solid growth last quarter.
- Consumer sentiment falls in July. Americans held a more pessimistic view of the economy in July as they became concerned about future growth.
- Business inventories rise slightly in May. Stockpiles held by U.S. businesses rose 0.2% in May as retailers restocked to meet buyer demand.
- Beige book shows U.S. economic growth is moderate. A report issued by the Federal Reserve shows that the economy grew “moderately” in most districts though inflation remains muted.
Quote Of The Week
“I am not a product of my circumstances. I am a product of my decisions.” -Stephen Covey
Recipe of the WeekSummer Lemon Curd Use fresh lemons to make a luxurious preserve that’s great for breakfast. Serves 8 Ingredients: 4 large eggs 1 cup sugar 1 tablespoon finely grated organic lemon zest 1/2 cup fresh lemon juice (from 2-3 fresh organic lemons) Pinch of Kosher salt 1/2 cup (1 stick) unsalted butter, cut into pieces Chef’s Tip: Non-organic lemons often have pesticides and other chemicals on the peel that may contaminate the preserve. Directions: 1. Fill a medium saucepan with 2 inches of water and set over medium heat. 2. Create a double boiler by fitting a metal bowl into the saucepan so that the bottom does not touch the water. Remove the bowl and bring the water to a simmer. 3. While the water is heating up, whisk the eggs, sugar, salt, zest, and lemon juice together in the bowl until well combined. Add the butter and set the bowl back onto the saucepan. 4. Heat the mixture over the simmering water, whisking constantly, for about 12-15 minutes, until it has thickened to the consistency of yogurt. 5. Using a spatula, push the mixture through a fine-mesh sieve into a small bowl. 6. Cover the bowl with parchment paper, plastic wrap, or wax paper, pushing it directly over the lemon curd, and refrigerate until completely cool. Do not use aluminum foil. 7. Use the curd as a cake or cupcake filling or spread it over crumpets for a delicious brunch treat. Recipe adapted from Dawn Perry | RealSimple.com
Tax TipsSelling Your Home? If you’re putting your home on the market, you may be able to avoid paying taxes on some of your capital gains. Here’s what IRS regulations say: If you show a capital gain on the sale, you may be able to exclude it from your taxes if you have owned and used it as your main home for at least two out of the last five years. You can exclude up to $250,000 (or $500,000 for joint filers), and the Net Investment Income tax will not apply to the excluded gain. You can exclude a gain from the sale of your main home only once every two years. If you claimed the first-time homebuyer credit, special rules may apply to the sale. For more information about tax issues relating to real estate, consult a tax professional in your area or refer to IRS Publication 523, “Selling Your Home.” Tip courtesy of IRS.gov
Golf TipDon’t Shift Too Early Many golfers lose power in their shots by prematurely lifting their right foot and shifting their weight to the left too early. Boost power and distance by keeping your weight behind the ball and anchoring your right foot before impact, driving more power into the shot. After contact, shift your weight smoothly to the left. Tip courtesy of Art Sellinger, PGA | Golf Tips Mag
Healthy LifestyleBedtime Snacks That Help You Snooze Many Americans have trouble falling asleep at night (though regular insomnia needs a physician’s care). If you occasionally need help settling down for a snooze, try these foods:
- Almonds have loads of magnesium, a mineral that helps relax muscles and regulate sleep.
- Bananas have tryptophan, the same ingredient found in turkey meat, that has been linked to better sleep quality.
- Cherries are a natural source of the sleep hormone melatonin. Researchers found that study participants who drank a glass of tart cherry juice before bed slept better than the control group.