December 2, 2014
Clarksville, TN – This week, the economic calendar picks up with fresh November figures. The focus is expected to be on the Employment Report, although the European Central Bank’s policy decision may be more critical.
ECB President Mario Draghi has repeatedly signaled that QE is on its way. Will the ECB pull the trigger this week? Seems likely (but if not, then in January).
Nonfarm payrolls were likely to have risen at a moderately strong pace, but seasonal adjustment could distort the figures (so take with a grain of salt).
November 12, 2014
Clarksville, TN – As was widely anticipated, Republicans picked up enough seats in the mid-term elections to control the Senate. Voter turnout was low, especially among young people and Hispanics.
Some are hopeful for a new spirit of bipartisanship, which happens after every mid-term election. Others are expecting the Republicans to accomplish things, such as tax reform and immigration reform.
October 4, 2014
Clarksville, TN – September reinforced its reputation as one of the worst months for stocks. The S&P 500, for example, dropped 1.5%. Thankfully, the declines over the past two weeks weren’t enough to entirely erase the gains we have seen over the past quarter.
In fact, the broad-market index, which reached a record high on September 18th, just managed to post its seventh straight quarterly gain.
July 8, 2014
Clarksville, TN – The June Employment Report was stronger than expected. Nonfarm payrolls rose by 288,000 (median forecast: +215,000), with widespread gains across sectors (April and May were revised a net 29,000 higher).
The unemployment fell to 6.1% (from 6.3%), although the employment/population ratio edged up only slightly (to 59.0%, vs. 58.9% in May and 58.7% a year ago – still suggesting plenty of slack in the labor market). Average hourly earnings rose 0.2% in June, up 2.0% y/y (the CPI rose 2.1% over the 12 months ending in May).
April 4, 2014
Clarksville, TN – March marked the fifth anniversary of the stock market’s bull run, since the bottom in the S&P 500 back in 2009. The most recent quarter was more lackluster, as U.S. stock indices were somewhat flat.
The equity markets showed some resilience during the last week of the month after Federal Reserve Chair Janet Yellen signaled that “considerable slack” in a “tough” labor market means the central bank will continue its monetary support of the economy for some time.
March 9, 2014
Clarksville, TN – There was plenty of fresh economic data, but most of it was distorted by the weather (which can have different effects depending on which areas of the country get hit).
Nonfarm payrolls rose by 175,000 in the initial estimate for February (median forecast: +150,000, although market participants were likely braced for about +130,000). Figures for December and January were revised a net 25,000 higher.
Spencer Coleman, Owner of Coleman Tractor Company in Paris Tennessee, Elected to Serve as Vice President on Kubota’s 2013 National Dealer Advisory Board
November 18, 2013
Torrance, CA – Spencer Coleman of Coleman Tractor Company, with dealerships in Paris and Clarksville Tennessee, has been elected to represent the Southeast Division and serve on the 2013 National Dealer Advisory Board for Kubota Tractor Corporation.
Comprised of eight members representing all regions of the U.S., this Board is a critical link in the dealer-manufacturer relationship with Kubota.
November 17, 2013
Clarksville, TN – In her nomination hearing before the Senate Banking Committee, Janet Yellen took a balanced approach in discussing how she would conduct monetary policy, but the markets took that as “dovish.”
She gave no hint that the pace of asset purchases would be tapered anytime soon, but she also cautioned that the program could not last indefinitely. She noted that the economy is far from fully recovered and indicated that “we have farther to go” in the labor market.
November 12, 2013
Clarksville, TN – The economic data surprised. Real GDP rose at a stronger-than-expected 2.8% annual rate in the advance estimate for 3Q13, but the figure was boosted by faster growth in inventories (which added 0.8 percentage point to GDP growth).
Consumer spending rose at a 1.5% annual rate, while business fixed investment rose 1.6% – nothing to write home about. The partial government shutdown had a mixed impact on the October employment figures.
Nonfarm payrolls rose by 204,000 (median forecast: +125,000), while August and September figures were revised a net +60,000.
October 22, 2013
Clarksville, TN – As was widely anticipated, lawmakers reached an 11th-hour agreement on the budget and debt ceiling. The “Continuing Appropriations Act, 2014” funds the government through January 15th, suspends the debt ceiling to February 7th, and requests bipartisan House/Senate budget negotiations by December 13th.
Thus, while the deal dodges a near-term financial catastrophe, it does not remove uncertainty entirely. Lawmakers will have less than three months to agree on a new spending authorization.