The Weekly Market Snapshot from Frazier Allen for the week of October 23rd
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 consistent with lackluster-to-moderate growth in the near term (no recession). Headline inflation figures for August were boosted by higher food and energy costs, but the core CPI rose modestly. The 2012 adjustment to Social Security payments will be 3.6%, following no change in the last two years. Housing starts jumped 15% in September, reflecting the usual volatility in the multi-family sector – single-family building permits, the key figure in the report, edged down 0.2%.
The financial markets looked past the economic data, focusing instead on earnings reports and Europe. European leaders said that a plan to address the region’s problems would not be finished by Sunday, but may be completed following a second summit, by Wednesday at the earliest. The global markets have reacted to reports of bickering as the plan is cobbled together, but remains encouraged by the strong rhetoric by Germany’s Merkel and France’s Sarkozy. [Read more]
Sneed recognized for dedication to clients
Ed Sneed, Jr.
Clarksville, TN – Ed Sneed, Jr., an Investment Executive with Raymond James Financial Services was recently named a member of the 2011 Executive Council.
Sneed, who joined Raymond James in 1999, has more than 35 years of experience in the financial services industry specializes in retirement income strategies. These strategies can include 401k plans, retirement plans, income planning for businesses and individuals. [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of October 9th
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 consistent with lackluster-to-moderate growth in the near term. Unit auto sales rose more than expected in September. Nonfarm payrolls rose by 103,000 (more than expected, but the increase including the return of 45,000 workers who were on strike in August), with a net upward revision of +99,000 for July and August. The unemployment rate held steady, but would have edged lower if not for an increase in labor force participation (the employment-population ratio edged up, but has been little changed over the last year. Chairman Bernanke said that the Fed’s asset maturity program (Operation Twist) should “put downward pressure on longer-term interest rates and help make broader financial conditions more supportive of economic growth.” He told lawmakers to tighten the federal budget over the long term, but cautioned them “to avoid fiscal actions that could impede the ongoing economic recovery.” [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of October 2nd
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
The news out of Europe was better. Leaders expressed a greater resolve to overcome the region’s difficulties and keep the euro intact. Germany’s parliament approved (by a wide margin) an expansion of the European Financial Stability Facility. However, the strains remain. There is a long and bumpy path ahead and the markets are expected to react to the news day by day.
U.S. economic data were mixed, but generally better than anticipated. The government’s third estimate of second quarter GDP growth was revised higher, to a 1.3% annual rate vs. +1.0% in the second estimate. The second quarter is pretty much ancient history at this point, but consumer spending and business fixed investment were both revised higher. The advance report on durable goods orders showed a pickup in shipments of nondefense capital goods ex-aircraft in August – suggesting that business fixed investment will post a strong gain in 3Q11 (not surprising, as corporate profits are a major driver of capital spending, and profits were at a record high in 2Q11). Consumer confidence remained depressed in September (after sinking in August), with continued pessimism on jobs. Weekly jobless claims fell unexpectedly in the latest week, but seasonal adjustment makes the figures unreliable. [Read more]
New Boutique in Historic Downtown Clarksville
Couture Crush a new style icon
Clarksville, TN – Kaley Drew, a current APSU senior and Clarksville native, is launching a new fashion boutique in Historic Downtown Clarksville. Couture Crush is set to be the leader in fashion for women’s clothing in Clarksville and will feature clothing, accessories and much more.
Most girls Kaley’s age are still trying to figure out what they want to be when they grow up, but Kaley has known since she was little. “When I was 9, I began a small cottage business called “Girlfriends Forever”. I made jewelry and fashion accessories and sold them at a local craft fair,” remembers Kaley. As she grew older, her entrepreneurial spirit remained, as did her love for fashion. All this comes together to create Couture Crush.
Owner Kaley Drew
Cumberland Paints and Supply Grand Opening
Clarksville, TN – Cumberland Paints and Supply held their Grand Opening Thursday, September 29th from 12:00pm to 3:00pm. The Clarksville Chamber of Commerce was on hand for the 2:00pm ribbon cutting.
Several people were on hand, including painters and contractors to help them celebrate their opening. There was plenty of food and refreshments for those that attended.
Cumberland Paints and Supply Celebrate their Grand Opening
Kelly-Moore Paints comes to Clarksville via Cumberland Paints & Supply
910 Max Court
Suite C
Clarksville, Tn 37043
931-648-0033
Clarksville, TN – Painting your home is something that you want to do right the first time. Many people choose to do the job themselves, while others simply hire someone else to do it for them. The one area you don’t want to skimp on is the paint. You want the best quality paint for the best price.
This is something a brand new Clarksville based business, Cumberland Paints & Supply is ready to help you with. They are the first Kelly-Moore Paints dealer east of the Mississippi River. If you have lived west of the Mississippi you have most likely already heard of, or used Kelly-Moore Paints.
Jet Away to Vegas with Sudden Service
Clarksville, TN – From 10:00am to 12:00pm on Saturday, September 24th, Nashville’s 103 WKDF was in Clarksville doing a live remote at the Sudden Service convenience store located on Hwy 48/13 at 109 Dean Road to help them promote their “Jet Away Getaway to Vegas”.
Sudden Service Convenience Stores, Coors Light, Miller Lite and 103 WKDF have teamed up to send a someone to Las Vegas for a weekend jet away along with $500.00 in spending cash.
Nashville's 103 WKDF was in Clarksville at the Sudden Service on Highway 48/13
Investor Fears Spark U.S., World Market Selloffs
Clarksville, TN – A steady drip of weak economic performance figures from around the globe combined with a grim assessment of near-term U.S. economic prospects pushed investor confidence over the edge Thursday. Some Asian and European markets lost as much as 5% of their value. U.S. markets dropped similarly during the day, although losses diminished somewhat as trading drew to a close.
For the record, the Dow Jones Industrial Average fell 391.01 points or 3.51% to finish the day at 10,733.80, while the broader S&P 500 dropped 37.2 points or 3.19%, to close at 1,129.56. The Nasdaq declined 82.52 points or 3.52% and closed at 2,455.67. This followed significant losses in all the indices in the previous trading session. It was the fourth consecutive day of domestic market losses. [Read more]
Bridgestone Metalpha, U.S.A., Inc. announces a $75 Million Expansion of Their Clarksville, TN Location
Clarksville, TN – The Clarksville, TN location of Bridgestone Metalpha U.S.A., Inc. (BMU) announced today that they are planning a $75 million expansion to their site in the Clarksville-Montgomery County Corporate Business Park. This location serves as the US Corporate Headquarters for steel cord production.
“Existing Tennessee businesses, like Bridgestone Metalpha in Clarksville, are the foundation on which our economic development success stories are built, and I congratulate the company on its expansion,” said Bill Hagerty, Commissioner of the Tennessee Department of Economic and Community Development. “Through a coordinated and collaborative effort amongst state and local governments and existing industry, we can achieve Gov. Bill Haslam’s goal of making Tennessee the No. 1 location in the Southeast for high quality jobs.” [Read more]
