August 30, 2015
Clarksville, TN – A sharp drop in China’s stock market rattled investors’ nerves around the world. The Dow Jones Industrial Average fell by more than 1,000 points at the open on Monday, regrouped, and then fell again, leaving the benchmark index down 588.
Volatility continued throughout the week, but investors were encouraged by China’s efforts to shore up its stock market and support economic growth. Oil prices fell further, but picked up by the end of the week. The market volatility has left investors struggling to figure out where share prices should be. Volatility is expected to decrease in coming days, but may continue for a while.
August 27, 2015
Clarksville, TN – To kick off this season’s Visiting Artist Lecture Series, theDepartment of Art and Design is bringing in renowned artist Linda Lopez.
Lopez will be discussing her work as a sculptural ceramicist at 7:00pm, Thursday, September 3rd, in the Trahern Building.
August 26, 2015
Clarksville, TN – www.NurseJournal.org’s School of Nursing is one of the top nursing programs in the eastern United States, according to a recent survey by the website
APSU was ranked No. 32 in the journal’s inaugural list, beating out prestigious nursing programs at places such as Yale University, Johns Hopkins University, the University of Pennsylvania and the University of North Carolina.
August 16, 2015
Clarksville, TN – “I know I have a long ways to go and a lot to learn, but the help is definitely here.”
When the United States and its allies need help, our soldiers answer the call. But when those same men and women need a hand, programs like the Montgomery County Veterans Treatment Court (VTC) exist to make sure they are not alone.
Established in 2012, the court aims to help veterans who come to the criminal justice system as a result of drug addictions, homelessness and other situations brought on by wartime stress.
August 16, 2015
Clarksville, TN – China’s leadership wants the yuan to become an important reserve currency, but that means that the country would have to let the currency float freely and be set by market forces. The People’s Bank of China, the country’s central bank, decided to alter its exchange rate regime.
The currency is allowed to trade in a 2% band around a level announced before the markets open. The PBOC said that this base level would simply be set at the previous session’s close (rather than taken out of the air).
August 12, 2015
Clarksville, TN – As thousands of American men traveled overseas to fight for the Allied forces during World War II, a surprising number of captured Axis prisoners of war (POWs) were making the opposite intercontinental journey.
A total of 425,000 Axis (Germany, Italy and Japan) POWs were held all across the United States in nearly every state. This marked the first time since the Civil War that large numbers of POWs were held on American soil.
August 9, 2015
Clarksville, TN – The economic data were mixed, but generally consistent with moderately strong growth. The ISM surveys went in opposite directions – the manufacturing index was softer than anticipated, while the non-manufacturing index exceeded expectations. Unit auto sales rebounded. The July Employment Report was about as expected.
Nonfarm payrolls rose by 215,000, with a net upward revision to May and June of +14,000. That put the three-month average at 235,000 (a 2.82 million annual rate). The unemployment rate held steady at 5.3%.
August 2, 2015
Clarksville, TN – The week began with an 8.5% drop in the Shanghai Composite Index, which sent markets down worldwide (but the Chinese market appeared to stabilize later). The Fed made only slight alterations to the wording of the monetary policy statement, and did not provide a strong signal that a September move is coming.
Real GDP rose at a 2.3% annual rate in the advance estimate for 2Q15, a bit shy of expectations, but the first quarter was revised to +0.6% (from -0.2%). Annual benchmark revisions showed a somewhat slower rate of growth in the past few years (mostly in 2013), which implies that the output gap (the difference between GDP and potential GDP) is higher than it was thought to be earlier (an important consideration for the Fed).
July 29, 2015
Clarksville, TN – This week the economic calendar is busy. The focus is likely to be on the GDP report (note that financial market participants typically over-emphasize the headline figure – the devil is in the details).
Durable goods orders are expected to have been boosted by a pickup in aircraft orders in June, but the trend in non-transportation orders has been weak in recent months. The Conference Board’s Consumer Confidence Index rose sharply in June – so it wouldn’t be unusual to see a modest pullback in July.
June 29, 2015
Clarksville, TN – The week began with a renewed sense of optimism that a Greek debt deal would be worked out. Sentiment then faded after negotiations with Greece’s creditors broke down, but then hopes continued that a deal would be reached over the weekend.
The economic data were mixed. Home sales figures improved in May. Durable goods orders were disappointing. The estimate of 1Q15 GDP was revised to show a -0.2% annual rate (vs. -0.7% in the second estimate), up 3.0% from a year ago. Note that the estimate of Gross Domestic Income rose at a 1.9% annual rate (+3.7% y/y).