{"id":11340,"date":"2012-05-27T16:00:18","date_gmt":"2012-05-27T21:00:18","guid":{"rendered":"http:\/\/www.discoverclarksville.com\/articles\/?p=11340"},"modified":"2012-05-27T00:32:52","modified_gmt":"2012-05-27T05:32:52","slug":"the-weekly-market-snapshot-from-frazier-allen-for-the-week-of-may-27th-2012","status":"publish","type":"post","link":"https:\/\/www.discoverclarksville.com\/articles\/2012\/05\/27\/the-weekly-market-snapshot-from-frazier-allen-for-the-week-of-may-27th-2012\/","title":{"rendered":"The Weekly Market Snapshot from Frazier Allen for the week of May 27th, 2012"},"content":{"rendered":"

\"Weekly<\/p>\n

Market Commentary by Scott J. Brown, Ph.D., Chief Economist<\/span><\/em><\/strong><\/p>\n

\n
\n
\"Scott<\/dt>\n<\/dl>\n

The news out of Europe remained bleak. G-8 leaders committed “to take all necessary steps” to strengthen and reinvigorate their economies, but recognized that “the right measures are not the same for each of us.” A few days later, European Union leaders could not agree on a course of action. Manufacturing sentiment surveys were weak in China and the eurozone (including France and Germany).<\/p>\n

How much bad news (about Europe) is factored in? Apparently a lot. The markets reacted only briefly and modestly to Europe\u2019s bad news, although there was plenty of intraday volatility along the way.<\/p>\n

The U.S. economic calendar was relatively thin, with improvement in both new and existing home sales, but disappointing figures on durable goods orders. Consumer sentiment improved (for the ninth consecutive month) to its highest level since October 2007, largely due to more favorable job and wage prospects.Next week, the economic calendar picks up again, with a number of potentially market-moving data releases. The focus is expected to be on Friday\u2019s employment figures. After some weather-related distortions in recent months, nonfarm payrolls are expected to have risen at a moderately strong pace in May (watch for revisions to March and April). Most of the other data reports are likely to be overshadowed by the job market data, but should be consistent with moderate economic growth in the near term. Europe will remain an important issue for U.S. investors, but worries may temporarily take a back seat to the economic data reports.<\/p>\n

Indices<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\nLast Week<\/strong><\/td>\nYTD return %<\/strong><\/td>\n<\/tr>\n
DJIA<\/td>\n12529.75<\/td>\n12442.49<\/td>\n2.56%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n2839.38<\/td>\n2813.69<\/td>\n8.99%<\/td>\n<\/tr>\n
S&P 500<\/td>\n1320.68<\/td>\n1304.86<\/td>\n5.02%<\/td>\n<\/tr>\n
MSCI EAFE<\/td>\n1354.40<\/td>\n1378.79<\/td>\n-4.12%<\/td>\n<\/tr>\n
Russell 2000<\/td>\n766.57<\/td>\n754.33<\/td>\n3.46%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Consumer Money Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1-year ago<\/strong><\/td>\n<\/tr>\n
Prime Rate<\/td>\n3.25<\/td>\n3.25<\/td>\n<\/tr>\n
Fed Funds<\/td>\n0.17<\/td>\n0.10<\/td>\n<\/tr>\n
30-year mortgage<\/td>\n3.82<\/td>\n4.59<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Currencies<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1-year ago<\/strong><\/td>\n<\/tr>\n
Dollars per British Pound<\/td>\n1.587<\/td>\n1.618<\/td>\n<\/tr>\n
Dollars per Euro<\/td>\n1.255<\/td>\n1.409<\/td>\n<\/tr>\n
Japanese Yen per Dollar<\/td>\n79.490<\/td>\n82.070<\/td>\n<\/tr>\n
Canadian Dollars per Dollar<\/td>\n1.028<\/td>\n0.978<\/td>\n<\/tr>\n
Mexican Peso per Dollar<\/td>\n14.062<\/td>\n11.703<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[470center]<\/p>\n

Commodities<\/h3>\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1-year ago<\/strong><\/td>\n<\/tr>\n
Crude Oil<\/td>\n90.41<\/td>\n99.09<\/td>\n<\/tr>\n
Gold<\/td>\n1564.28<\/td>\n1521.18<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bond Rates<\/strong><\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1-month ago<\/strong><\/td>\n<\/tr>\n
2-year treasury<\/td>\n0.29<\/td>\n0.33<\/td>\n<\/tr>\n
10-year treasury<\/td>\n1.75<\/td>\n2.15<\/td>\n<\/tr>\n
10-year municipal (TEY)<\/td>\n3.06<\/td>\n3.14<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Treasury Yield Curve \u2013 5\/25\/2012 <\/strong><\/h3>\n
\"Treasury<\/a><\/div>\n

S&P Sector Performance (YTD) \u2013 5\/25\/2012 <\/strong><\/h3>\n

\"S&P<\/a><\/p>\n

Economic Calendar<\/h3>\n\n\n\n\n\n\n\n\n
May 28th<\/strong><\/td>\n\n

\u2014<\/p>\n<\/td>\n

Memorial Day Holiday (markets closed)<\/td>\n<\/tr>\n
May 29th<\/strong><\/td>\n\n

\u2014<\/p>\n<\/td>\n

S&P\/Case-Shiller Home Price Index (March)
\nConsumer Confidence (May)<\/td>\n<\/tr>\n
May 30th<\/strong><\/td>\n\n

\u2014<\/p>\n<\/td>\n

ADP Payroll Estimate (May)
\nPending Home Sales Index (April)<\/td>\n<\/tr>\n
May 31st<\/strong><\/td>\n\n

\u2014<\/p>\n<\/td>\n

Jobless Claims (week ending May 26th)
\nReal GDP (1Q12, 2nd estimate)
\nChicago PM Index (May)<\/td>\n<\/tr>\n
June 1st<\/strong><\/td>\n\n

\u2014<\/p>\n<\/td>\n

Employment Report (May)
\nPersonal Income and Spending (April)
\nMarkit US PMI (May)<\/td>\n<\/tr>\n
June 20th<\/strong><\/td>\n\n

\u2014<\/p>\n<\/td>\n

FOMC Policy Decision
\nBernanke Press Briefing<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Important Disclosures<\/h3>\n

[320left]Past performance is not a guarantee of future results. There are special risks involved with global investing related to market and currency fluctuations, economic and political instability, and different financial accounting standards. The above material has been obtained from sources considered reliable, but we do not guarantee that it is accurate or complete. There is no assurance that any trends mentioned will continue in the future. While interest on municipal bonds is generally exempt from federal income tax, it may be subject to the federal alternative minimum tax, state or local taxes. In addition, certain municipal bonds (such as Build America Bonds) are issued without a federal tax exemption, which subjects the related interest income to federal income tax. Investing involves risk and investors may incur a profit or a loss.<\/p>\n

US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.<\/p>\n

Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.<\/p>\n

Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.<\/p>\n

\"\"<\/a>Material prepared by Raymond James for use by its financial advisors.<\/p>\n

The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business May 25th, 2012.<\/p>\n

\u00a92012 Raymond James Financial Services, Inc. member FINRA<\/a> \/ SIPC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Market Commentary by Scott J. Brown, Ph.D., Chief Economist The news out of Europe remained bleak. G-8 leaders committed “to take all necessary steps” to strengthen and reinvigorate their economies, but recognized that “the right measures are not the same for each of us.” A few days later, European Union leaders could not agree on […]<\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[3],"tags":[4066,4067,3059,4068,3695,4069,3060,3061,3062,3063,4071,3064,3065,3066,3697,3698,3067,3068],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4xGYI-2WU","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/11340"}],"collection":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/comments?post=11340"}],"version-history":[{"count":2,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/11340\/revisions"}],"predecessor-version":[{"id":11342,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/11340\/revisions\/11342"}],"wp:attachment":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/media?parent=11340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/categories?post=11340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/tags?post=11340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}