Govs Club hosts Chamber’s August Business After Hours, Thursday
Clarksville, TN – The Governors Club will host the Clarksville Area Chamber of Commerce’s Business After Hours at 5:00pm, Thursday, at Austin Peay State University’s Pace Alumni Center at Emerald Hill.
Business After Hours is a free networking event open to all Chamber of Commerce and Governors Club members, as well as all Austin Peay season-ticket holders, fans and their guests. [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of August 14th
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
Acting after Standard and Poor’s decision to downgrade U.S. debt and a subsequent 635-point drop in the Dow Industrials on Monday, August 8th, the Federal Reserve announced on Tuesday the 9th that it was freezing short-term interest rates for at least two years. The Fed also said it was discussing a “range of policy tools” that it was “prepared to employ,” which some investors interpreted as meaning additional monetary stimulus might be forthcoming if the economy remains weak.
Yields on short-term Treasury debt fell after the Fed announcement, with two-year notes offering just 17 basis points and yields on the benchmark 10-year Treasury notes dropping to levels last seen during the 2008 financial crisis. Noting that economic growth this year has been “considerably slower” than it had expected, the Fed also said it expects “a somewhat slower pace of recovery over coming quarters”. [Read more]
Govs Club hosts Chamber’s August Business After Hours, next Thursday
Clarksville, TN – The Governors Club will host the Clarksville Area Chamber of Commerce’s Business After Hours at 5:00pm, next Thursday August 18th, at Austin Peay State University’s Pace Alumni Center at Emerald Hill.
Business After Hours is a free networking event open to all Chamber of Commerce and Governors Club members, as well as all Austin Peay season-ticket holders, fans and their guests. [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of August 7th
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
Leaders in Washington reached an agreement to raise the debt ceiling, averting a self-inflicted financial disaster. However, with the debt ceiling nonsense out of the way, investors were free to focus on the U.S. economic recovery and Europe’s debt crisis – and the outlook doesn’t look so hot. The U.S. economy has slowed and the downside risks to the growth outlook have increased. Although it still appears that the U.S. is likely to avoid a recession, the odds have increased. The European debt crisis appears to be enveloping Spain and Italy, which will be much bigger problems for the big banks in Europe. Stocks fell broadly around the world.
The July Employment report was consistent with the broad range of economic data releases of the last few weeks, suggesting a subpar economic recovery, but not a recession. Nonfarm payrolls rose by 117,000 – well above the +85,000 consensus forecast and, more importantly, not as bad as feared. The unemployment rate edged down to 9.1%, but would have risen if not for people exiting the labor force. After digesting the report, the stock market gave up gains made in an initial (positive) reaction to the report. Bonds yields fell. The dollar was mixed following efforts by the Swiss and the Japanese to weaken their currencies. [Read more]
Markets Tumble on Signs of Weakening Global, U.S. Economies
Clarksville, TN – Stocks fell sharply yesterday around the world, accelerating a widespread decline that began as the United States approached the August 2 deadline for averting default and then resumed with even more intensity after a brief rally when a debt/budget deal was reached in Washington.
On Thursday, the Dow Jones Industrial Average fell 512.76, or 4.31%, while the broader S&P 500 dropped 60.27, or 4.78%, and the tech-oriented Nasdaq declined 136.68, or 5.67%. [Read more]
August Chamber of Commerce Events
Clarksville, TN. – August 1st, 2011 – The Clarksville Area Chamber of Commerce announces upcoming events during the month of August.
On Tuesday, August 2nd, the Chamber will be hosting a Women In Business event at 11:30am at the Hilton Garden Inn, 290 Alfred Thun Road. Tresa Halbrooks will serve as the Keynote Speaker. Her personal story will touch and inspire you; her humor will undoubtedly make you laugh and you will enjoy hearing about her journey through a male dominated industry. [Read more]
Govs Club hosts Chamber’s August Business After Hours
Clarksville, TN – The Governors Club will host the Clarksville Area Chamber of Commerce’s Business After Hours at 5:00pm, August 18th, at Austin Peay State University’s Pace Alumni Center at Emerald Hill.
Business After Hours is a free networking event open to all Chamber of Commerce and Governors Club members, as well as all Austin Peay season-ticket holders, fans and their guests. [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of July 31st
Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services
For some time, financial market participants have been complacent about the federal debt ceiling being raised. After all, we’ve been here before and when push comes to shove, lawmakers will raise the debt ceiling because they have to raise the debt ceiling. The consequences of not doing so would be catastrophic for the economy and the financial markets. However, as we near the August 2 deadline, both parties remain far apart, raising the possibility that the ceiling might not be raised in time. Already, investors have pulled out of money market funds (opting instead for FDIC-backed bank deposits). Banks have begun to raise capital and tighten credit on consumer and business borrowers – none of this is good for economic growth.
The economic data remained generally disappointing. The advance estimate of Q211 GDP growth came in at a 1.3% annual rate (vs. a median forecast of +1.8%), with consumer spending at a 0.1% pace (held back by higher gasoline prices and a drop in motor vehicle sales). More troublesome, benchmark revisions delivered downward adjustments to GDP figures for Q410 and Q111. [Read more]
Update on U.S Debt Ceiling and Possible Credit Downgrades
Chances are you’ve heard about the ongoing debate surrounding raising the U.S. debt ceiling and even more recently about Moody’s announcement that it could potentially downgrade its credit rating for U.S. Treasuries and other institutions linked to the U.S. government.
On top of that, Standard & Poor’s placed the U.S. on “CreditWatch Negative” based on the rising risk of a policy stalemate. The agencies themselves believe the risk of any payment default by the U.S. government is low, but increasing slightly. [Read more]
The Weekly Market Snapshot from Frazier Allen for the week of July 24th
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. Housing starts rose sharply in June, but single-family permits were little changed. Home builder sentiment improved in July, but was still very low. Existing home sales for June disappointed.
The stock market reacted to varying perceptions about a deal to raise the debt ceiling. The Gang of Six plan appeared to have the most momentum. President Obama has agreed in principle to sign the resulting bill. It’s likely to clear the Senate, but could have some difficulty getting through the House. The plan would reduce the deficit by $3.7 trillion over 10 years, with $1 trillion in added revenue coming from tax reform. However, it’s unlikely that details of the plan will be worked out before the August 2nd deadline on the debt ceiling. So, an extension of the debt ceiling is expected to be needed. [Read more]
