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The Markets
While Americans celebrated the 4th of July, the bulls
enjoyed another strong week for stocks. In the week
just ended, the Dow gained +1.5%, the S&P 500 +1.8%,
the Russell 2000 +2.2% and Nasdaq jumped +2.8%.
The return of
merger mania soothed investors coupled
with stronger than expected economic data ahead of
earnings season which begins this week. The holiday shortened
week was boosted by strong M&A activity to start the 3rd quarter
highlighted by Blackstone’s (BX) acquisition of Hilton Hotels (HLT).
Friday’s payroll number coupled with strong economic
data for the week sent the yield on the 10-year to its highest
level in two weeks. Oil prices climbed after the holiday
over renewed Nigeria
concerns and lower than expected refinery use. Higher oil
prices and a weaker dollar gave precious metals a lift. This
week earnings season
begins to unfold as Alcoa (AA) reports on Monday.
This week, the market will focus on a speech by Bernanke
on inflation Tuesday to update expectations about Fed policy.
| Returns through 07/06/07 |
1-Week |
Y-T-D |
1-Year |
3-Year |
5-Year |
10-Year |
| Dow Jones Industrials |
1.5 |
9.2 |
22.7 |
10.0 |
8.0 |
5.6 |
| Nasdaq Composite |
2.4 |
10.4 |
25.2 |
10.7 |
13.7 |
6.1 |
| Standard & Poor's 500 |
1.8 |
7.9 |
20.9 |
11.1 |
9.4 |
5.3 |
Source: Yahoo! Finance, Barrons
Past performance is no guarantee of future results. Indices
are unmanaged and cannot be invested into directly. Three-,
5-, and 10-year returns are annualized. Assumes dividends
are not reinvested.
Volunteer Vacation—and more
Are you ready to share your experience and skills in new
ways?
Perhaps your children have moved out and
you finally have time (and money) to spend traveling. Or
perhaps your children
haven’t moved out, and you need to get away. Maybe
you just want to make a difference in the world. No matter
what inspires you, if you would like to take a vacation that
gives you an opportunity to immerse yourself in a different
culture, help improve a community or maintain our national
parks, you may enjoy a volunteer vacation.
There are lots of
volunteer vacation options to consider. You can enjoy a few
weeks teaching English in Central America,
a few months spent helping maintain a national park in the
Caribbean, or a couple of years establishing computer learning
centers, farming, or building infrastructure in remote countries.
The opportunities are abundant—it’s up to you
to decide what type of commitment you’re willing to
make.
Cross Cultural Solutions
If you want to immerse yourself in a new culture, Cross Cultural
Solutions (CCS) may be just the ticket. After an in-depth
orientation and language training, you’ll spend your
vacation—or a longer period of time—helping
communities in Africa, Asia, Eastern Europe or Latin America
pursue goals their residents have set. You’ll learn
about the challenges facing the community to which you
are assigned, and work with the people there to solve problems
and achieve their objectives. You’re likely to make
new friends, and you’ll have free time to explore
the area you visit. You can learn more on the CCS website
at www.crossculturalsolutions.org.
Maho Bay Work Exchange Program
Want to spend a month in paradise? In return for an average
of four hours of work each day, you’ll receive free
lodging in an environmentally friendly Maho Bay Tent-Cottage
on St. John in the U.S. Virgin Islands. You could be asked
to paint, prune, file, pressure spray boardwalks, serve
as a cashier, complete data entry, or other tasks. When
you’re done working, you’ll have opportunities
to relax on beautiful beaches and enjoy hiking, snorkeling,
scuba diving and other activities in Virgin Islands National
Park. The only limitations are that you must be 18 years
old or older, and willing to commit to a stay of at least
30 days. Learn more about Maho Bay at www.maho.org.
American
Hiking Society
Do you love hiking and camping? Then a volunteer vacation
with the American Hiking Society may be just right for
you. You’ll join a crew of 6 to 15 volunteers to
work on a series of trail building projects somewhere on
America's public lands. There are also opportunities to
work in Chilean Patagonia for 3 weeks. Trips will involve
backpacking or day hiking and accommodations are often
primitive. Food, tools, and supervision are provided by
the host agency or organization. Visit the society’s
website at www.americanhiking.org to learn more.
The Peace Corps
Okay, it’s not a vacation. The Peace Corps asks for
a two year commitment, but it’s one that a growing
number of older Americans have been making. According to
AARP’s The Magazine, about 6% of the Peace Corps’ 8,000
or so volunteers are age 50 or older. The Peace Corps website
says that they are actively recruiting older Americans for
their experience and maturity. After a period of training,
you’ll be sent to work in the public sector in one
of 75 countries. If you think you’d like an international
experience, visit the Peace Corps website at www.peacecorps.gov.
It
has been said that life begins at 50. Join the Americans
who are approaching or are past that benchmark age, and
who are committing their time, money, and energy to making
our
world a better place to live. Have safe and happy travels!
The poor have it,
the rich want it,
but if you eat it you will die.
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Best Regards,
P.S. Please feel free to forward
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