Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 8th, 2013
September 8, 2013
Clarksville, TN – The economic data were mixed, but mostly on the strong side of expectations. The ISM’s two monthly surveys surprised to the upside. Motor vehicle sales advanced
However, the August Employment Report disappointed. Nonfarm payrolls rose by 169,000 (vs. a median forecast of +180,000 and expectations of an upside surprise). Figures for June and July were revised a net 74,000 lower (July went from +162,000 to +104,000).
Manufacturing rose by 6,000. Construction was flat. Retail added 44,000. The unemployment rate fell to 7.3%, but that was due to lower labor force participation (the lowest since May 1978).
Frazier Allen
Investors looking for answers from the Fed, Government
September 4, 2013
Clarksville, TN – August saw all three of the major U.S. stock market indexes fall into negative territory, as investors become more concerned about the possibility of rising rates and potential military action in Syria.
Emerging markets, particularly Brazil and India, also took a hit in August as their economies weakened and their currencies fell against the dollar.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 1st, 2013
September 1, 2013
Clarksville, TN – The economic data were consistent with a slowing in the rate of overall growth in July.
The estimate of second quarter growth was revised higher (to a 2.5% annual rate, vs. +1.7% in the advance estimate), but that was almost entirely due to a smaller-than-expected trade deficit (the estimate of consumer spending growth was the same and the estimate of business fixed investment was only slightly different).
Personal income and spending figures showed a poor start for the consumer in 3Q13. Durable goods orders tanked in July, reflecting a drop in aircraft orders (which were strong in May and June). However, ex-transportation orders still disappointed.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of August 20th, 2013
August 20, 2013
Clarksville, TN – Fed tapering concerns continued to weigh against the stock market and helped push long-term interest rate higher. There’s a growing consensus that we will see some reduction in the rate of asset purchases announced next month, but the first move may be a small one, as a compromise among divided Fed officials and as a means of testing market reactions to tapering.
The market reaction to the tapering talk is still a puzzle. Tapering is not tightening and the Fed will continue to support the recovery through its guidance on short-term interest rates. However, long-term interest rates are normally going to rise as an economic recovery progresses.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of August 12th, 2013
August 12, 2013
Clarksville, TN – Next week, the mid-month economic data will help fill in the picture of where the economy stands in the third quarter.
Many of the reports have market-moving potential, but future Fed policy decisions are seen as being driven more by the employment figures.
Frazier Allen
