{"id":9057,"date":"2011-11-21T14:57:57","date_gmt":"2011-11-21T20:57:57","guid":{"rendered":"http:\/\/www.discoverclarksville.com\/articles\/?p=9057"},"modified":"2011-11-21T14:57:57","modified_gmt":"2011-11-21T20:57:57","slug":"the-weekly-market-snapshot-from-frazier-allen-for-the-week-of-november-18th","status":"publish","type":"post","link":"https:\/\/www.discoverclarksville.com\/articles\/2011\/11\/21\/the-weekly-market-snapshot-from-frazier-allen-for-the-week-of-november-18th\/","title":{"rendered":"The Weekly Market Snapshot from Frazier Allen for the week of November 18th"},"content":{"rendered":"

\"Weekly<\/p>\n

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

\"Scott

Scott J. Brown Ph.D., Chief Economist Raymond James Investment Services<\/p><\/div>\n

The economic data reports were mostly stronger than expected, consistent with moderate growth in the near term. Retail sales rose more than the consensus forecast in October. Industrial production picked up, partly reflecting an increase in mining, but automobile production improved. Residential construction numbers were mixed, but suggested a modest uptrend in single-family activity (still at very low levels). As expected, the October inflation reports reflected lower energy prices. Core inflation was mild.<\/p>\n

Tensions continued to heat up in Europe, with increased calls for the European Central Bank to step in as the lender of last resort. However, the ECB continues to reject that role. Borrowing costs for Italy, Spain, and France rose, but fell back a bit at the end of the week, as Greece and Italy made some progress in addressing their budget situations.<\/p>\n

Next week, there are a number of potentially market-moving data releases. However, the markets are likely to be focused more on developments in Europe and news of the super committee. The super committee on the budget has struggled to meet its deadline to come up with at least $1.5 trillion in deficit reduction over the next ten years. Market expectations for the committee are low, but there is likely to be some downside if there is no agreement or if they reach an agreement that is not seen as credible. The government\u2019s estimate of 3Q11 GDP growth is expected to be little changed from the advance estimate, as components revisions are likely to be offsetting. Jobless claims will be subject to some distortions from the seasonal adjustment through the early part of the new year.<\/p>\n

Indices<\/h3>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nLast<\/strong><\/td>\nLast Week<\/strong><\/td>\nYTD return %<\/strong><\/td>\n<\/tr>\n
DJIA<\/td>\n11770.73<\/td>\n11893.79<\/td>\n1.67%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n2587.99<\/td>\n2625.15<\/td>\n-2.45%<\/td>\n<\/tr>\n
S&P 500<\/td>\n1216.13<\/td>\n1239.69<\/td>\n-3.30%<\/td>\n<\/tr>\n
MSCI EAFE<\/td>\n1413.57<\/td>\n1423.78<\/td>\n-14.76%<\/td>\n<\/tr>\n
Russell 2000<\/td>\n718.74<\/td>\n725.50<\/td>\n-8.28%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Consumer Money Rates<\/h3>\n\n\n\n\n\n\n
\u00a0<\/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>\n0.08<\/td>\n0.19<\/td>\n<\/tr>\n
30-year mortgage<\/td>\n4.03<\/td>\n4.53<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Currencies<\/h3>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nLast<\/strong><\/td>\n1-year ago<\/strong><\/td>\n<\/tr>\n
Dollars per British Pound<\/td>\n1.576<\/td>\n1.590<\/td>\n<\/tr>\n
Dollars per Euro<\/td>\n1.347<\/td>\n1.353<\/td>\n<\/tr>\n
Japanese Yen per Dollar<\/td>\n77.000<\/td>\n83.230<\/td>\n<\/tr>\n
Canadian Dollars per Dollar<\/td>\n1.027<\/td>\n1.022<\/td>\n<\/tr>\n
Mexican Peso per Dollar<\/td>\n13.704<\/td>\n12.369<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Commodities<\/h3>\n\n\n\n\n\n
\u00a0<\/td>\nLast<\/strong><\/td>\n1-year ago<\/strong><\/td>\n<\/tr>\n
Crude Oil<\/td>\n98.82<\/td>\n80.44<\/td>\n<\/tr>\n
Gold<\/td>\n1720.45<\/td>\n1337.33<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bond Rates<\/h3>\n\n\n\n\n\n\n
\u00a0<\/td>\nLast<\/strong><\/td>\n1-month ago<\/strong><\/td>\n<\/tr>\n
2-year treasury<\/td>\n0.27<\/td>\n0.28<\/td>\n<\/tr>\n
10-year treasury<\/td>\n2.02<\/td>\n2.23<\/td>\n<\/tr>\n
10-year municipal (TEY)<\/td>\n3.52<\/td>\n3.96<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Treasury Yield Curve \u2013 11\/18th\/201\"Treasury<\/h3>\n

S&P Sector Performance (YTD) \u2013 11\/18th\/2011 <\/strong><\/h3>\n

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

Economic Calendar<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
November 21st<\/strong><\/td>\n\n

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

Existing Home Sales (October)<\/td>\n<\/tr>\n
November 22nd<\/strong><\/td>\n\n

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

Real GDP (3Q11, 2nd estimate)
\nFOMC Minutes (November 1st-2nd)<\/td>\n<\/tr>\n
November 23rd<\/strong><\/td>\n\n

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

Jobless Claims (week ending November 19th)
\nPersonal Income, Spending (October)
\nDurable Goods Orders (October)
\nConsumer Sentiment (November)
\nSuper Committee Deadline<\/td>\n<\/tr>\n
November 24th<\/strong><\/td>\n\n

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

Thanksgiving Holiday (markets closed)<\/td>\n<\/tr>\n
November 28th<\/strong><\/td>\n\n

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

New Home Sales (October)<\/td>\n<\/tr>\n
November 29th<\/strong><\/td>\n\n

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

S&P\/C-S Home Prices (September)
\nConsumer Confidence (November)<\/td>\n<\/tr>\n
December 1st<\/strong><\/td>\n\n

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

ISM Manufacturing Index (November)
\nMotor Vehicle Sales (November)<\/td>\n<\/tr>\n
December 2nd<\/strong><\/td>\n\n

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

Employment Report (November)<\/td>\n<\/tr>\n
December 13th<\/strong><\/td>\n\n

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

FOMC Policy Decision (no press briefing)<\/td>\n<\/tr>\n
December 26th<\/strong><\/td>\n\n

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

Christmas Holiday (markets closed)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Important Disclosures<\/h3>\n

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 November 17th, 2011.<\/p>\n

\u00a92011 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 reports were mostly stronger than expected, consistent with moderate growth in the near term. Retail sales rose more than the consensus forecast in October. Industrial production picked up, partly reflecting an increase in mining, but automobile production improved. Residential construction numbers were mixed, […]<\/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-2m5","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/9057"}],"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=9057"}],"version-history":[{"count":2,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/9057\/revisions"}],"predecessor-version":[{"id":9059,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/9057\/revisions\/9059"}],"wp:attachment":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/media?parent=9057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/categories?post=9057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/tags?post=9057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}