{"id":12245,"date":"2012-08-19T10:00:59","date_gmt":"2012-08-19T15:00:59","guid":{"rendered":"http:\/\/www.discoverclarksville.com\/articles\/?p=12245"},"modified":"2012-08-18T22:41:21","modified_gmt":"2012-08-19T03:41:21","slug":"the-weekly-market-snapshot-from-frazier-allen-for-the-week-of-august-19th-2012","status":"publish","type":"post","link":"https:\/\/www.discoverclarksville.com\/articles\/2012\/08\/19\/the-weekly-market-snapshot-from-frazier-allen-for-the-week-of-august-19th-2012\/","title":{"rendered":"The Weekly Market Snapshot from Frazier Allen for the week of August 19th, 2012"},"content":{"rendered":"

\"Weekly<\/p>\n

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

\"ScottThe economic data were mixed, but generally stronger than expected. Retail sales popped 0.8% (overall and ex-autos) in July, following weak reports in April, May, and June. The CPI was flat overall in July and up only mildly ex-food & energy. However, higher prices of food and energy are expected to show through more in the report for August. Industrial production advanced, fueled by strength in autos (seasonal adjustment issues?) and hot weather (higher output of utilities).<\/p>\n

Residential construction figures were mixed. Housing starts slipped, but single-family building permits (which are reported more accurately) rose further.<\/p>\n

Europe and the fiscal cliff remain significant risks to the U.S. economic growth outlook, but fear has subsided to some extent in the last few weeks. Lawmakers are discussing the fiscal cliff and are aware of the economic consequences. European leaders have continued to show a strong resolve about keeping the Eurozone together, although we need to see some action in September.<\/p>\n

Next week, the economic calendar thins out a bit. Home sales (new and existing) are expected to rebound in July, following disappointing results in June. On Wednesday, the Congressional Budget Office will release revised budget projections. These projections are based on current law, which includes the full fiscal cliff. The FOMC policy meeting minutes may shed some light on the Fed\u2019s current thinking and provide some insight into the likelihood of further policy action. However, following the recent string of better economic data, the odds of QE3 have decreased.<\/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>\n13250.11<\/td>\n13165.19<\/td>\n8.45%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n3062.39<\/td>\n3018.64<\/td>\n17.55%<\/td>\n<\/tr>\n
S&P 500<\/td>\n1415.51<\/td>\n1402.8<\/td>\n12.56%<\/td>\n<\/tr>\n
MSCI EAFE<\/td>\n1483.60<\/td>\n1477.82<\/td>\n5.03%<\/td>\n<\/tr>\n
Russell 2000<\/td>\n813.08<\/td>\n802.90<\/td>\n9.74%<\/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>\n0.15<\/td>\n0.12<\/td>\n<\/tr>\n
30-year mortgage<\/td>\n3.69<\/td>\n4.32<\/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>\n1.574<\/td>\n1.644<\/td>\n<\/tr>\n
Dollars per Euro<\/td>\n1.236<\/td>\n1.441<\/td>\n<\/tr>\n
Japanese Yen per Dollar<\/td>\n79.270<\/td>\n76.750<\/td>\n<\/tr>\n
Canadian Dollars per Dollar<\/td>\n0.987<\/td>\n0.984<\/td>\n<\/tr>\n
Mexican Peso per Dollar<\/td>\n13.133<\/td>\n12.273<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Commodities<\/h3>\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1-year ago<\/strong><\/td>\n<\/tr>\n
Crude Oil<\/td>\n95.60<\/td>\n86.65<\/td>\n<\/tr>\n
Gold<\/td>\n1615.60<\/td>\n1781.43<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bond Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1-month ago<\/strong><\/td>\n<\/tr>\n
2-year treasury<\/td>\n0.28<\/td>\n0.22<\/td>\n<\/tr>\n
10-year treasury<\/td>\n1.80<\/td>\n1.47<\/td>\n<\/tr>\n
10-year municipal (TEY)<\/td>\n3.09<\/td>\n2.98<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Treasury Yield Curve \u2013 8\/17\/2012 <\/strong><\/h3>\n
\"Treasury<\/a><\/div>\n

 <\/p>\n

S&P Sector Performance (YTD) \u2013 8\/17\/2012 <\/strong><\/h3>\n

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

Economic Calendar<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
August 22nd<\/strong><\/td>\n\n

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

Existing Home Sales (July)
\nCBO Budget Outlook: An Update
\nFOMC Minutes (July – August 1st)<\/td>\n<\/tr>\n
August 23rd<\/strong><\/td>\n\n

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

Jobless Claims (week ending August 18th)
\nMarket US Manufacturing Index (August)
\nNew Home Sales (July)<\/td>\n<\/tr>\n
August 24th<\/strong><\/td>\n\n

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

Durable Goods Orders (July)<\/td>\n<\/tr>\n
August 28th<\/strong><\/td>\n\n

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

Consumer Confidence (August)<\/td>\n<\/tr>\n
August 29th<\/strong><\/td>\n\n

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

Real GDP (2Q12, 2nd<\/sup> estimate)
\nFed Beige Book<\/td>\n<\/tr>\n
August 30th<\/strong><\/td>\n\n

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

Personal Income and Spending (July)
\nRomney Acceptance Speech<\/td>\n<\/tr>\n
August 31st<\/strong><\/td>\n\n

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

Bernanke Speaks (Jackson Hole)<\/td>\n<\/tr>\n
September 1st<\/strong><\/td>\n\n

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

ECB President Draghi speaks (Jackson Hole)<\/td>\n<\/tr>\n
September 6th<\/strong><\/td>\n\n

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

Obama Acceptance Speech<\/td>\n<\/tr>\n
September 7th<\/strong><\/td>\n\n

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

Employment Report (August)<\/td>\n<\/tr>\n
September 13th<\/strong><\/td>\n\n

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

Fed Policy Meeting
\nBernanke Press Briefing<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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 August 9th, 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 economic data were mixed, but generally stronger than expected. Retail sales popped 0.8% (overall and ex-autos) in July, following weak reports in April, May, and June. The CPI was flat overall in July and up only mildly ex-food & energy. However, higher prices of food […]<\/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-3bv","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/12245"}],"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=12245"}],"version-history":[{"count":2,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/12245\/revisions"}],"predecessor-version":[{"id":12247,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/12245\/revisions\/12247"}],"wp:attachment":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/media?parent=12245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/categories?post=12245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/tags?post=12245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}