The Weekly Market Snapshot from Frazier Allen for the week of August 21st
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
Fear remained a significant factor in the financial markets, as concerns about weaker economic growth and worries that Europe’s sovereign debt crisis may be morphing into a fully-fledged banking crisis (with some implications for the U.S.) helped send long-term Treasury yields to record lows (the 10-year note traded briefly below 2%).
The economic data were mixed, but consistent with a lackluster-to-moderate pace of growth in the overall economy, not a recession. Industrial production rose 0.9% (more than expected), boosted by hot weather (increased output of utilities) and a rebound in autos – otherwise, manufacturing output rose 0.3%. Residential construction activity was soft. Existing home sales disappointed (the National Association of Realtors cited problems in the appraisal process and difficulties in obtaining financing). Consumer price inflation rose more than expected, boosted by the seasonal adjustment (which inflated gasoline prices) and higher apparel costs (three large increases in a row). Owner’s equivalent rent (which accounts for about a quarter of the overall CPI and a third of the core CPI) rose 0.3% (as a point of comparison, OER rose 0.3% over the 12 months ending December 2010). [Read more]
New Animal Control Director Appointed
Montgomery County, TN – The Montgomery County Mayor’s Office is pleased to announce that Karen Josephson has been selected as the director of Animal Control. She brings over 25 years of management experience and 15 years as an independent animal rescuer to the Montgomery County facility.
Karen Josephson has been appointed the as the new director of Animal Control.
APSU, Vol State offering new 1+1 agreement in chemical engineering technology
Clarksville, TN – Austin Peay State University and Volunteer State Community College are partnering to offer a new transfer degree program, the Chemical Engineering Technology 1+1 Agreement.
This new program links Vol State students with APSU to create a seamless transition from Vol State into the chemical engineering technology (ChET) program at APSU. The two-year program awards the Associated of Applied Science credential. [Read more]
Riverfest Presents the 2nd Annual Shooting for Big Cats Tournament
Clarksville, TN – The City of Clarksville is excited about the return of the Shooting for Big Cats Fishing Tournament to this year’s Riverfest celebration.
The tournament was put on hold after Fairgrounds Park was closed for construction, but with the recent opening of the new Clarksville Marina boat ramps at Liberty Park, the tournament will return for it’s second year to benefit the Tennessee Wildlife Resources Foundation. [Read more]
38th Annual Tennessee Entomological Society Meeting in Nashville next Month
Clarksville, TN – A typical ant is only about one-eighth of an inch long and weighs around 3 milligrams. At that size, it should be considered relatively harmless, but most people don’t want the insects inside their houses. Termites and bedbugs might be a little larger, roughly a quarter of an inch in size, but they are equally unpopular as houseguests.
On September 29th and 30th, some of the state’s top scientific minds will take up the topic of pest detection and control methods during the 38th Annual Meeting of the Tennessee Entomological Society (TES). [Read more]
“Sheets For Soldiers” program brings hope and comfort to Soldiers returning from Afghanistan
Wyatt-Johnson Sales Representative Willie Rosario assists with the FRG’s effort to help returning soldiers by purchasing bedding for their Fort Campbell barracks rooms.
Clarksville, TN – Willie Rosario has been working in the sales department for the Wyatt-Johnson Automotive Group since 2007. Over the course of those four years, Willie has had hundreds of clients, including many with military ties. A former soldier himself, Willie knows firsthand what it truly means to serve his country and fight for our freedom.
Willie wanted come up with a unique way to express his appreciation for area soldiers’ continued service and sacrifices. After talking with Tammy Phillips, Family Readiness Group (FRG) leader for 4th Brigade Combat Team 506th Infantry Regiment, he learned that many single unmarried soldiers returning home from overseas deployments move back into practically bare Fort Campbell barracks rooms with very few amenities.
Wyatt-Johnson auto rep Willie Rosario presents sheets and a gift bag to FRG leader Tammy Phillips and Cpt. Smith, rear detachment commander for 4th Brigade Combat Team 506th Infantry Regiment.
Apples for Education Campaign Brings in Supplies for Teachers and Students
Clarksville, TN – Two local banks and their branches participated in the Clarksville Montgomery County Education Foundation’s “Apples for Education,” a school supply drive and donation campaign to stock items for the teachers’ free supply store. The campaign began in late July and ended on Monday.
Legends Bank presented $400.00 and between 400 to 500 school supply items. Cumberland Bank & Trust donated $68.00 and around 100 items. [Read more]
Business After Hours a success
Clarksville, TN – Despite threatening weather, more than 300 people attended the Clarksville Area Chamber of Commerce’s Business After Hours, hosted by Austin Peay athletics and the Governors Club, Thursday night, at APSU’s Pace Alumni Center at Emerald Hill.
Austin Peay President Tim Hall talked about the University’s continued growth and the plan to improve Governors Stadium in addition to encouraging Chamber members to support APSU athletics with their attendance.
Business After Hours a success. (Courtesy: Austin Peay Sports Information)
Local Church sponsors Praise Fest
Clarksville, TN – Reconciliation Evangelistic Outreach Center truly has a heart for the community and in their efforts to reach out to others; the church is excited to announce that their Singles Ministry will host its 3rd community wide praise fest in the New Providence area.
The fest, which will take place Saturday, August 27th, 2011 from 4:30pm-8:30pm, will feature live Christian music from local artists, food, spiritual expressions of pantomime and dance, informational booths and fellowship. Admission to this event is free. The fest has been purposefully renamed New Providence Gospel Praise Fest because its goal is to bring the community together. [Read more]
15th Annual International Festival this Sunday
Clarksville, TN – Immaculate Conception Catholic Church is holding their 15th Annual International Festival Sunday, August 21st from 12:30pm to 5:00pm. This is a city-wide gathering to celebrate the various and rich cultures and heritages found in our community.
Over 15 countries will be represented through food, drink, and entertainment.
Ballet Folklorico Viva Panama dancers at the International Festival.
