{"id":14338,"date":"2013-03-17T12:00:49","date_gmt":"2013-03-17T17:00:49","guid":{"rendered":"http:\/\/www.discoverclarksville.com\/articles\/?p=14338"},"modified":"2013-03-17T04:29:56","modified_gmt":"2013-03-17T09:29:56","slug":"weekly-market-snapshot-from-frazier-allen-for-the-week-of-march-17th-2013","status":"publish","type":"post","link":"https:\/\/www.discoverclarksville.com\/articles\/2013\/03\/17\/weekly-market-snapshot-from-frazier-allen-for-the-week-of-march-17th-2013\/","title":{"rendered":"Weekly Market Snapshot from Frazier Allen for the week of March 17th, 2013"},"content":{"rendered":"

\"Weekly<\/p>\n

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

\"Scott<\/p>\n

The economic data were mixed, but the stock market continued to focus on the good news and ignored the rest. Retail sales rose more than expected in February, but results varied across sectors. Industrial production picked up, following a weak January (results varied by industry).<\/p>\n

The inflation reports showed some pressure from higher gasoline, as anticipated, and moderate core inflation. Treasury reported a smaller deficit than a year ago. Initial claims for unemployment benefits continued to trend lower. Consumer sentiment fell in the mid-March assessment, with a sharp decline in expectations (down to a 15-month low).<\/p>\n

The Dow Jones Industrials Average continued to new record highs, up 10 sessions in a row. In contrast to the optimism expressed in equities, bond yields have remained relatively low.<\/p>\n

Next week, housing figures have some market-moving potential, but February is not a “make or break” month for the sector (weather can have an impact). The March figures will be more important. No surprises are expected from the Fed policy meeting on Wednesday.<\/p>\n

Officials have had a public debate about the potential costs and benefits of current policy and the settled view is that the benefits (to the labor market, in particular) outweigh the potential that we may see excessive risk-taking and financial instability. The Fed will release revised projections of growth, unemployment, and inflation. Note that the Fed policy announcements will now be made at 2:00pm. On the last meeting of the quarter, the Fed will also release revised projects at 2:00 p.m. and Bernanke\u2019s press briefings will follow at 2:30pm.<\/p>\n

Indices<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/b><\/td>\nLast Week<\/b><\/td>\nYTD return %<\/b><\/td>\n<\/tr>\n
DJIA<\/td>\n14539.14<\/td>\n14329.49<\/td>\n10.95%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n3258.93<\/td>\n3232.09<\/td>\n7.93%<\/td>\n<\/tr>\n
S&P 500<\/td>\n1563.23<\/td>\n1544.26<\/td>\n9.61%<\/td>\n<\/tr>\n
MSCI EAFE<\/td>\n1699.43<\/td>\n1682.67<\/td>\n5.95%<\/td>\n<\/tr>\n
Russell 2000<\/td>\n953.07<\/td>\n934.57<\/td>\n12.21%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Consumer Money Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/b><\/td>\n1-year ago<\/b><\/td>\n<\/tr>\n
Prime Rate<\/td>\n3.25<\/td>\n3.25<\/td>\n<\/tr>\n
Fed Funds<\/td>\n0.17<\/td>\n0.15<\/td>\n<\/tr>\n
30-year mortgage<\/td>\n3.51<\/td>\n3.92<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Currencies<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/b><\/td>\n1-year ago<\/b><\/td>\n<\/tr>\n
Dollars per British Pound<\/td>\n1.509<\/td>\n1.567<\/td>\n<\/tr>\n
Dollars per Euro<\/td>\n1.301<\/td>\n1.302<\/td>\n<\/tr>\n
Japanese Yen per Dollar<\/td>\n95.880<\/td>\n83.630<\/td>\n<\/tr>\n
Canadian Dollars per Dollar<\/td>\n1.023\/td><\/td>\n0.993<\/td>\n<\/tr>\n
Mexican Peso per Dollar<\/td>\n12.465<\/td>\n12.700<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Commodities<\/h3>\n\n\n\n\n\n
<\/td>\nLast<\/b><\/td>\n1-year ago<\/b><\/td>\n<\/tr>\n
Crude Oil<\/td>\n93.03<\/td>\n105.43<\/td>\n<\/tr>\n
Gold<\/td>\n1592.90<\/td>\n1636.25<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bond Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/b><\/td>\n1-month ago<\/b><\/td>\n<\/tr>\n
2-year treasury<\/td>\n0.26<\/td>\n0.27<\/td>\n<\/tr>\n
10-year treasury<\/td>\n2.00<\/td>\n2.03<\/td>\n<\/tr>\n
10-year municipal (TEY)<\/td>\n3.31<\/td>\n3.07<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Treasury Yield Curve \u2013 03\/15\/2013 <\/b><\/h3>\n
\"Treasury<\/a><\/div>\n

S&P Sector Performance (YTD) \u2013 03\/15\/2013 <\/b><\/h3>\n

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

Economic Calendar<\/h3>\n\n\n\n\n\n\n\n\n\n\n
March 18th<\/b><\/td>\n\n

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

Homebuilder Sentiment (March)<\/td>\n<\/tr>\n
March 19th<\/b><\/td>\n\n

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

Building Permits, Housing Starts (February)<\/td>\n<\/tr>\n
March 20th<\/b><\/td>\n\n

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

FOMC Policy Decision, Bernanke Press Briefing<\/td>\n<\/tr>\n
March 21st<\/b><\/td>\n\n

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

Jobless Claims (week ending March 16th)
\nPhiladelphia Fed Index (March)
\nExisting Home Sales (February)
\nLeading Economic Indicators (February)<\/td>\n<\/tr>\n
March 26th<\/b><\/td>\n\n

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

Durable Goods Orders (February)
\nNew Home Sales (February)
\nConsumer Confidence (March)<\/td>\n<\/tr>\n
March 29th<\/b><\/td>\n\n

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

Good Friday Holiday (markets closed)
\nPersonal Income and Spending (February)<\/td>\n<\/tr>\n
April 5th<\/b><\/td>\n\n

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

Employment Report (March)<\/td>\n<\/tr>\n
April 10th<\/b><\/td>\n\n

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

FOMC Minutes (March 20th)<\/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 February 28th, 2013.<\/p>\n

\u00a92013 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 the stock market continued to focus on the good news and ignored the rest. Retail sales rose more than expected in February, but results varied across sectors. Industrial production picked up, following a weak January (results varied by industry). The […]<\/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":[17795,17996,17994,17194,515,10712,17892,17895,17796,17995,17791,9791,3064,9790,3066,9788,2279],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4xGYI-3Jg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/14338"}],"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=14338"}],"version-history":[{"count":2,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/14338\/revisions"}],"predecessor-version":[{"id":14340,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/14338\/revisions\/14340"}],"wp:attachment":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/media?parent=14338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/categories?post=14338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/tags?post=14338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}