{"id":9135,"date":"2011-11-29T06:00:32","date_gmt":"2011-11-29T12:00:32","guid":{"rendered":"http:\/\/www.discoverclarksville.com\/articles\/?p=9135"},"modified":"2011-11-28T21:35:40","modified_gmt":"2011-11-29T03:35:40","slug":"the-weekly-market-snapshot-from-frazier-allen-for-the-week-of-november-29th","status":"publish","type":"post","link":"https:\/\/www.discoverclarksville.com\/articles\/2011\/11\/29\/the-weekly-market-snapshot-from-frazier-allen-for-the-week-of-november-29th\/","title":{"rendered":"The Weekly Market Snapshot from Frazier Allen for the week of November 29th"},"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

Recent data show that the U.S. economy is continuing its slow recovery as the Commerce Department revised its estimate of GDP to a 2.0% annual rate, though this was lower than the initial estimate at 2.5%. Both consumer spending and personal incomes increased in October as well, while orders for durable goods fell by 0.7%, a possible indication of tempered demand for U.S. manufactured goods from a slowing global economy.<\/p>\n

Concerns about the debt loads of European nations that began with Greece have spread, and investors are now demanding higher yields on the obligations of much larger nations. The higher rates are seen as a sign that investors are questioning the European Union\u2019s ability to restore confidence in its management of the debt crisis and to keep borrowing costs for major European nations from increasing to unsustainable levels.<\/p>\n

On the homefront, the end of the supercommittee\u2019s negotiations sets up automatic spending cuts to a broad range of military and domestic programs that would go into effect starting in 2013 unless Congress intervenes before then. In addition, the collapse of the talks means that no agreement was reached on extending the reduction in payroll taxes, which expires at the end of the year, as well an extension of unemployment benefits. Congressional action will now be required to extend both provisions, which are viewed as vital to consumer spending \u2013 the mainstay of the overall economy.<\/p>\n

Next week, we\u2019ll get some important economic numbers. The financial markets are often interested in consumer confidence and the ISM manufacturing survey data. However, the November Employment Report will carry a lot of weight as we carry through the holiday shopping season. Note that we\u2019ll have some good anecdotal evidence on post-Thanksgiving sales at the start of the week (although the early start to sales, Thursday night in some cases, could be a factor). Seasonal adjustment is sometimes tricky in November, particularly as retailers hire for the holiday season. So we could a surprise in the payroll figure.<\/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>\n11257.55<\/td>\n11770.73<\/td>\n-2.76%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n2460.08<\/td>\n2587.99<\/td>\n-7.27%<\/td>\n<\/tr>\n
S&P 500<\/td>\n1161.79<\/td>\n1216.13<\/td>\n-7.62%<\/td>\n<\/tr>\n
MSCI EAFE<\/td>\n1329.58<\/td>\n1413.57<\/td>\n-19.82%<\/td>\n<\/tr>\n
Russell 2000<\/td>\n674.34<\/td>\n718.74<\/td>\n-13.95%<\/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>\n0.07<\/td>\n0.20<\/td>\n<\/tr>\n
30-year mortgage<\/td>\n4.02<\/td>\n4.55<\/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>\n1.553<\/td>\n1.581<\/td>\n<\/tr>\n
Dollars per Euro<\/td>\n1.336<\/td>\n1.339<\/td>\n<\/tr>\n
Japanese Yen per Dollar<\/td>\n77.370<\/td>\n82.840<\/td>\n<\/tr>\n
Canadian Dollars per Dollar<\/td>\n1.047<\/td>\n1.025<\/td>\n<\/tr>\n
Mexican Peso per Dollar<\/td>\n14.110<\/td>\n12.451<\/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>\n95.87<\/td>\n80.70<\/td>\n<\/tr>\n
Gold<\/td>\n1696.65<\/td>\n1380.10<\/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>\n0.29<\/td>\n<\/tr>\n
10-year treasury<\/td>\n1.95<\/td>\n2.34<\/td>\n<\/tr>\n
10-year municipal (TEY)<\/td>\n3.43<\/td>\n3.70<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Treasury Yield Curve \u2013 11\/25\/2011<\/h3>\n

\"Treasury<\/strong><\/p>\n

S&P Sector Performance (YTD) \u2013 11\/25\/2011<\/h3>\n

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

Economic Calendar<\/h3>\n\n\n\n\n\n\n\n\n\n\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

Jobless Claims (week ending November 26th)
\nISM 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 5th<\/strong><\/td>\n\n

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

ISM Non-Manufacturing Index (November)<\/td>\n<\/tr>\n
December 13th<\/strong><\/td>\n\n

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

Retail Sales (November)
\nFOMC Policy Decision (no press briefing)<\/td>\n<\/tr>\n
December 16th<\/strong><\/td>\n\n

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

Consumer Price Index (November)<\/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 24th, 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 Recent data show that the U.S. economy is continuing its slow recovery as the Commerce Department revised its estimate of GDP to a 2.0% annual rate, though this was lower than the initial estimate at 2.5%. Both consumer spending and personal incomes increased in October as […]<\/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-2nl","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/9135"}],"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=9135"}],"version-history":[{"count":2,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/9135\/revisions"}],"predecessor-version":[{"id":9137,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/posts\/9135\/revisions\/9137"}],"wp:attachment":[{"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/media?parent=9135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/categories?post=9135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.discoverclarksville.com\/articles\/wp-json\/wp\/v2\/tags?post=9135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}