Brands Retreat

Stocks traded lower on Friday. Brands such as Bank of America, Intel, McDonald’s, and UnitedHealth led Dow decliners on the last trading day of the third quarter. Brands dipped on a myriad of economic news. A final reading on consumer confidence showed an increase for September. The University of Michigan Consumer Sentiment Index hit 78.3. Down from the previous estimate of 79.2, the result fell short of an expected reading of 79, but exceeded August’s 74.3 level. On another note, consumer spending increased by 0.5% August, as expected, following a 0.4% rise in July. Meanwhile, personal income edged up 0.1% in August, which was shy of an expected 0.2% upswing, after increasing by the same, downwardly revised amount in July.

Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.