The Weekly Market Snapshot from Frazier Allen
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
- Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
The economic data were mostly in line with expectations, generating relatively little reaction in the financial markets. Personal income and spending figures rose moderately in November. However, spending figures for September and October were revised significantly higher – implying that inflation-adjusted consumer spending (70% of overall Gross Domestic Product) is on track for more than a 4% annual rate in Q410 (vs. +2.4% in Q310 and +2.2% in Q210). In contrast, shipments of nondefense capital goods excluding aircraft trended at a much more moderate pace in the first two months of the fourth quarter (implying that business fixed investment will make a more modest contribution to Q410 GDP growth).
The PCE Price Index ex-food & energy, the Fed’s key inflation gauge, edged up 0.1% in November and was up just 0.8% over the last 12 months (too low for the Fed’s comfort). Real GDP rose at a 2.6% annual rate in the 3rd estimate for Q310 (vs. 2.5% in the 2nd estimate and +2.0% in the advance estimate), with inventory growth revised higher. A slower pace of inventory growth should subtract from GDP growth in Q410 or in Q111. [Read more]
F&M Bank has a strong commitment to customers, community
Clarksville, TN – When you take a look at the Banking industry in Clarksville, F&M Bank will definitely be at the top of the list. The bank is well known for their top notch customer service, and their philanthropy in the community.
They have received national recognition in The Wall Street Journal, Entrepreneur Magazine, BusinessTN Magazine. The bank has been named as one of Tennessee’s top 15 independent banks, and are currently the twelfth largest community bank in Tennessee. F&M Bank is frequently held up as being the role model for other community banks
Grasty joins staff at Cumberland Bank & Trust as loan officer
Brian Grasty
Cumberland Bank & Trust welcomes Brian Grasty to its staff. Brian will be joining the Dover Road branch as a loan officer. He has 8 years of banking experience and graduated with a B.S. degree in agriculture from APSU. Brian is very active in the community, serving on the Board of Directors for the United Way of Greater Clarksville area, a member of Gideons International, and a Mason at Lodge #303 of Indian Mound.
Ron Sleigh, president of Cumberland Bank & Trust, said, “We’re very excited to add Brian to our team. He has many valuable years of banking experience that I feel will be put to good use here at Cumberland Bank & Trust”. [Read more]
Shear Madness Studio Opens
Clarksville, TN – The Clarksville Chamber of Commerce made it official last week when they cut the ribbon to open a new business called Shear Madness Hair Studio, located at 2150 Wilma Rudolph Blvd.
Owner, Claudia George has been a hair artist since 2007 and opened Claudia’s Hair Salon in 2009. This year she changed the name to Shear Madness when she was joined by two other hair Artists; Annette Catalano-Joplin and Angie Henley.
Claudia George, owner of Shear Madness, cuts the ribbon to officially open her new business, located at 2150 Wilma Rudolph Blvd. Suite 8, while members of the Clarksville Chamber of Commerce look on.
Winter Specials On and Off the Golf Course
Fort Campbell, KY – As winter settles in, the Cole Park Golf Club is offering winter specials both on and off the golf course. It is a great time to shop for that special golfer in your life with a 10% savings on all golf shop merchandise during the month of December. Gift certificates are also available and may be used by the lucky recipient for purchase of merchandise, green fees, cart rental fee, annual fees, and more.
Along with the change in the weather, there will be additional exciting modifications taking place at the Cole Park Golf Club. As of December 8th, only the front nine holes are be open. The closure of the back nine is due to the renovation of all sand bunkers. [Read more]
The Weekly Market Snapshot from Frazier Allen
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
The economic data were mixed, but generally consistent with a continued expansion. Retail sales rose more than expected in November, while figures for September and October were revised higher. Industrial production rose moderately, as a drop in auto production was offset by gains in other manufacturing sectors. Residential construction figures were mixed, but single-family activity improved. Consumer inflation figures remained low.
As expected, the Federal Open Market Committee left the target range for the overnight lending rate unchanged (at 0% to 0.25%), kept it’s conditional commitment to keep short-term rates low for “an extended period,” and did not alter its asset purchase plans ($600 billion by the end of Q211). In its economic assessment, the FOMC noted that the recovery “is continuing,” but “at a rate that has been insufficient to bring down unemployment.” Congress approved the tax cut package. European debt worries continued to simmer. [Read more]
Cumberland Bank & Trust presents annual Maple Leaf Awards
Clarksville, TN – Cumberland Bank & Trust recently presented two employees with its Maple Leaf Award at their employee Christmas party.
The Maple Leaf Award is presented to employees who are committed to excellent customer service and dedication to Cumberland Bank & Trust.
Crystal Dennis (left) and Charlie Koon (right) with Ron Sleigh (center) President / CEO of Cumberland Bank & Trust
Friends of Dunbar Cave’s Twelfth Annual Trees to Trails
Clarksville, TN – The Friends of Dunbar Cave Nature Area are gearing up for their twelfth annual Trees to Trails project. The first stage of the project is the collection of Christmas trees. Once decorations (including tinsel) have been taken off cut trees, members of the community are asked to drop them off at the park.
The designated drop-off pile is located in the corner of the parking lot, at intersection of Dunbar and Old Dunbar Cave Roads. The park is open daily 8:00am until sunset. Trees will be accepted through January 9th, 2011.
The second phase of the project is the shredding of the collected trees. The resulting mulch will be will be saved until early Spring and used to cover park pathways. Christmas trees are considered a good source of park mulch because they are free of vines and seeds from invasive plants. The mulch helps control erosion without introducing unwanted plants to the trails.
Barbara E. Johnson Park and Disc Golf Course is now open
Clarksville, TN – The City of Clarksville’s recently dedicated Barbara E. Johnson Park and Disc Golf Course is now open at 240 Outlaw Field Road. In addition to the existing amenities the 10 acre park, formerly Airport Park, is now equipped with a nine-hole disc golf course and new Barbara E. Johnson pavilion.
For more details on Barbara E. Johnson Park and Disc Golf Course, please contact the Clarksville Parks and Recreation Department at 931-645-7476 or visit www.cityofclarksville.com.
Pedestrian Bridge at the Clarksville Greenway Opens Tomorrow
Clarksville, TN – The City of Clarksville along with Mayor John E. Piper will be at the Clarksville Greenway, located at 1101 Pollard Road, tomorrow December 16th at 3:00pm for the opening of the newly built pedestrian bridge.
Join us at 1101 Pollard Road to meet the family that donated $250,000 to help fund the bridge and help make this extension happen.
