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 calendar was thin. Retail sales rose about as anticipated in February, but January figures were revised higher. The trade deficit widened sharply in January, suggesting that net exports may make a significant subtraction from Q111 GDP growth. Claims for unemployment insurance rose, but seasonal adjustment made the figures questionable (the underlying trend is down). Consumer sentiment sank in the mid-month reading for March, with a sharp plunge in expectations for the next six months and a pickup in inflation expectations – this was the first economic report that could reflect the recent surge in gasoline prices, and the results were not good.
Oil prices retreated, but remained a considerable worry for U.S. equity market participants. Libya tilted toward civil war. Moody’s downgraded Spanish debt. A major earthquake hit Japan. [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 mostly on the strong side of expectations. Nonfarm payrolls rose by 192,000 in February, while the two previous months were revised higher by 58,000. February strength partly reflected a rebound from January’s poor weather (payrolls averaged a 127,500 monthly gain in the first two months of the year, nothing to write home about). Private-sector payrolls rose by 222,000 (+1.5 million from a year ago), while state and local government subtracted another 30,000 (-241,000 from a year ago). The unemployment rate fell to 8.9% (it was 9.8% in November), but that is misleading. The employment-population ratio, the preferred measure of slack in the labor market, held steady at 58.4% (vs. 58.5% in February 2010). Average weekly hours were flat (probably reflecting the weather). Average hourly earnings were essentially unchanged (+1.7% year-over-year), with weekly earnings also flat (+2.3% year-over-year). The February ISM manufacturing survey was the strongest since May 2004 and the non-manufacturing survey was the strongest since July 2005. Motor vehicle sales rose to a 13.4 million seasonally adjusted annual rate in February, vs. 12.6 million in January and 10.7 million in February 2010. [Read more]
Local Family-Owned Auto Landmark honors Founder’s Legacy; Wins prestigious award for the second year in a row
Wyatt-Johnson Auto Group sells more vehicles in 2010 than any other Buick GMC dealership in Tennessee
Named #1 GMC-Buick Dealer in the state, #3rd in the Southeast United States
Clarksville, TN – Sixty-five years ago, Henry Wyatt opened a small auto dealership in the heart of Clarksville built on the foundations of honesty and integrity. Henry’s son-in-law Sid Johnson spent the next fifty years at the helm, expanding on these core values and growing the family-owned dealership into the Clarksville institution it is now.
Honoring the legacies left by their founders, The Wyatt-Johnson Automotive Group has continued this tradition of excellence and was recently rewarded for their years of perseverance by being named the #1 Buick-GMC Dealership in Tennessee for the second year in a row.
Sonja Rohra, Shannon Moats, Morris Lancer, Josh Meeker, Katherine Johnson Cannata -Dealer Principal, Curtis Nichols -Assistant Sales Manager, James Conley -Sales Manager, Sidney Johnson Dealer Principal, Scott Maletesta -GM Zone Manager, Mike Polston -General Sales Manager, Tim Farmer -GM District Manager, Doug Tallent (Those without titles are salespeople) The award is for being the largest volume Buick GMC dealer in thestate of Tennessee in 2010.
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
Investors remained focused on political developments in the Middle East and North Africa. The turmoil in Libya led to a drop in oil production (less than 1% of global output), higher oil prices, and a dampening of U.S. stock market sentiment. Assurances that other producers could make up for the Libyan shortfall helped stem the rise oil prices, although broader worries remain. At the end of the week, gasoline futures suggested about a $3.60 average price for a gallon of gasoline – the increase in gasoline prices, if sustained, would offset much of the positive benefit (to consumer spending) of lower payroll taxes.
The economic data were mixed, partly reflecting unfavorable weather in January. The estimate of real GDP growth for Q410 was revised down (to a +2.8% annual rate, vs. +3.2% in the advance estimate). Consumer spending growth was revised lower (to 4.1% from 4.4%), as anticipated, and business fixed investment was a bit higher (mostly business structures). Oddly, there was virtually no revision in either inventories (which subtracted 3.7 percentage points from GDP growth in 4Q10) or in net exports (which added 3.4 percentage points). State and local government expenditures fell at a 2.4% annual rate (vs. -0.8% in the advance estimate), reflecting budget strains. [Read more]
Get ready for the Spring and Summer season at the Sun Oasis Tanning Salon
2257 Wilma Rudolph Blvd
Clarksville, TN 37040
Phone: 931-591-2773
Visit Sun Oasis Tanning Salon for a unique tanning experience
Clarksville, TN – Spring is just around the corner, and it brings with it a whole slew of clothing that shows off arms, legs, necks, and sometimes the abs, and nothing is worse than starting off the spring with your skin showing the signs of winter’s pale. That’s where Sun Oasis Tanning Salon can help. Sun Oasis Tanning Salon was founded to meet all of your tanning needs. “We see everything from high school and college students, housewives, to Business men and women.” said co-owner Cheryl Crowley, who runs the business with her brother Todd Morris.
The Sun Oasis Tanning Salon employees tanning advisors whose sole job is to ensure that no matter what your current tanning state is, that you have a safe and productive tanning session. The salon features a wide variety of KBL AG tanning beds, including the high tech Mon Amie bed that uses skin sensors to provide an intelligent tanning session customized for your skin. The European tanning company KBL AG, is one of the leaders in the tanning industry. They also offer the no UV Versaspa.
The Lobby of the Sun Oasis Tanning Salon
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. Retail sales and industrial production figures for January disappointed, but softness was seen as likely to have been the result of poor weather. The Fed’s two main regional manufacturing surveys were strong in February, with a further intensification of input price pressures and evidence that firms are a bit more able to pass along higher costs. January inflation figures were mostly higher than expected. The core CPI rose 0.2%, reflecting some one-time increases (such as apparel). Minutes of the January 25-26 Fed policy meeting showed that officials were somewhat more optimistic about 2011 GDP growth, but did not expect much improvement in the unemployment rate over the course of the year.
The stock market seemed to struggle a bit with the economic data, although reactions were limited. The major market averages still managed to forge ahead during the week. [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 calendar was thin. The December trade deficit was narrower than expected, implying (all else equal) a small upward revision to the fourth quarter GDP growth figure. Consumer sentiment edged up in the mid-February reading, still relatively low by historical standards.
In testimony to the House Budget Committee, Fed Chairman Bernanke repeated that “we have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold,” but continued to caution that “it will be several years before the unemployment rate has returned to a more normal level.” He said that the Federal Open Market Committee will continue to review its current asset purchase program, but gave no indication that the program (which is set to finish at the end of June) would be cut short. [Read more]
Clarksville Networking Group to hold Special Evening Event
Clarksville, TN – The Clarksville Networking Group will stray from their usual morning meeting to host a special evening networking event with special guest Adam Small of Strategic Business Network. The first-ever event is scheduled for March 8th from 5:00pm to 7:00pm in the ballroom of the Riverview Inn.
Small is an author and speaker as well as facilitator of Networking and Entrepreneurial seminars/programs, including FastTrac™ which Small has taught on behalf of the Nashville Chamber since the course’s Nashville launch in 1999. Small instructs Networking workshops privately for companies and membership organizations. [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
Most of the economic data reports were better than expected. The ISM surveys were strong, reflecting solid growth in new orders and employment, albeit with a further increase in input price pressures. The January Employment Report was confusing. Nonfarm payrolls rose by a disappointing 36,000 (median forecast was about +145,000) and average weekly hours edged down, but that likely reflected the impact of poor weather. Manufacturing payrolls rose by 49,000 and factory hours advanced, consistent with the inventory story that came out of the 4Q10 GDP report (that is, lean inventories suggest gains in production in the near term).
The unemployment rate fell unexpectedly to 9.0%, but not all of the drop could be explained by a drop in labor force participation. The employment-to-population ratio, a better measure of slack in the labor market, edged only slightly higher (suggesting improvement, but not as much as the drop in the unemployment rate would seem to suggest). In his speech to the National Press Club, Fed Chairman Bernanke was optimistic that the pace of the economic recovery would improve, but cautioned that it would be years before the job market returned to normal. [Read more]
Owner would like to stop the Rumors
Clarksville, TN – There is a BUZZ in the air about Gatti’s Pizza in Clarksville, Tennessee. Word on the street is the business was set to close this weekend. Owners of the local resturant would like to let everyone know, it’s business as usual.
Get your family and friend together and come on over to Gatti’s Pizza.
Gatti's Pizza in Clarksville, Tennessee
