{"id":10380,"date":"2015-09-06T12:00:47","date_gmt":"2015-09-06T17:00:47","guid":{"rendered":"http:\/\/www.paristn.net\/articles\/?p=10380"},"modified":"2015-09-06T07:45:58","modified_gmt":"2015-09-06T12:45:58","slug":"clarksville-weekly-market-snapshot-from-frazier-allen-for-the-week-of-september-6th-2015","status":"publish","type":"post","link":"https:\/\/www.paristn.net\/articles\/2015\/09\/06\/clarksville-weekly-market-snapshot-from-frazier-allen-for-the-week-of-september-6th-2015\/","title":{"rendered":"Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 6th, 2015"},"content":{"rendered":"

\"F&MClarksville, TN<\/strong> – The economic data were mixed, but generally consistent with moderately strong growth. Unit auto sales improved in August. The ISM Manufacturing Index slowed. The Non-Manufacturing Index pulled back a bit after surging in July (still strong). The Fed\u2019s Beige Book described growth as evenly split between \u201cmodest\u201d and \u201cmoderate\u201d across the 12 Fed districts.<\/p>\n

The August employment report was mixed, but generally strong. Nonfarm payrolls rose by 173,000 (median forecast: +220,000), but with a net revision of +44,000 to June and July.<\/p>\n

\"Frazier<\/a>

Frazier Allen<\/p><\/div>\n

The unemployment rate fell to 5.1% (median forecast: 5.2%) and average hourly earnings rose by 0.3% (median forecast: +0.2%), giving the Fed\u2019s hawks some ammunition in arguing for a September 17th rate hike (although one should really take those figures with a grain of salt).<\/p>\n

The financial markets remained focused on the volatility in China, but with the Chinese market closed on Thursday and Friday, fears of the Fed and slower global growth remained. In his Jackson Hole speech on August 29th, Fed Vice Chair Stanley Fischer suggested that the Fed was still on track to begin raising short-term interest rates this year and implied that a September move was still on the table.<\/p>\n

The Fed does take into account what\u2019s happening in the rest of the world, said Fischer, but needs to focus on the domestic economy \u2013 what\u2019s good for the U.S. economy is good for the global economy.<\/p>\n

Next week, the economic calendar is thin. Investors will return from the three-day weekend with a focus on the rest of the world (China, in particular). Monetary policy makers in Canada and the United Kingdom will meet (neither is expected to act, but the Bank of Canada is contemplating another rate cut and the Bank of England is contemplating when to raise rates). The Fed\u2019s September 17 decision is seen as being determined by financial market volatility (this week and next), but the Fed is still looking to begin raising rates by the end of the year.<\/p>\n

\n

Indices<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\nLast Week<\/strong><\/td>\nYTD return %<\/strong><\/td>\n<\/tr>\n
DJIA<\/td>\n16374.76<\/td>\n16654.77<\/td>\n-8.13%<\/td>\n<\/tr>\n
NASDAQ<\/td>\n4733.50<\/td>\n4812.71<\/td>\n-0.05%<\/td>\n<\/tr>\n
S&P 500<\/td>\n1951.13<\/td>\n1987.66<\/td>\n-5.23%<\/td>\n<\/tr>\n
MSCI EAFE<\/td>\n1704.05<\/td>\n1731.13<\/td>\n-3.99%<\/td>\n<\/tr>\n
Russell 2000<\/td>\n1145.15<\/td>\n1153.61<\/td>\n-4.94%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Consumer Money Rates<\/h3>\n\n\n\n\n\n\n
<\/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>\n0.14<\/td>\n0.09<\/td>\n<\/tr>\n
30-year mortgage<\/td>\n3.99<\/td>\n4.10<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Currencies<\/h3>\n\n\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 year ago<\/strong><\/td>\n<\/tr>\n
Dollars per British Pound<\/td>\n1.526<\/td>\n1.646<\/td>\n<\/tr>\n
Dollars per Euro<\/td>\n1.112<\/td>\n1.315<\/td>\n<\/tr>\n
Japanese Yen per Dollar<\/td>\n120.070<\/td>\n104.790<\/td>\n<\/tr>\n
Canadian Dollars per Dollar<\/td>\n1.318<\/td>\n1.089<\/td>\n<\/tr>\n
Mexican Peso per Dollar<\/td>\n16.800<\/td>\n13.099<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Commodities<\/h3>\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 year ago<\/strong><\/td>\n<\/tr>\n
Crude Oil<\/td>\n46.75<\/td>\n95.54<\/td>\n<\/tr>\n
Gold<\/td>\n1125.46<\/td>\n1269.40<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bond Rates<\/h3>\n\n\n\n\n\n\n
<\/td>\nLast<\/strong><\/td>\n1 month ago<\/strong><\/td>\n<\/tr>\n
2-year treasury<\/td>\n0.72<\/td>\n0.72<\/td>\n<\/tr>\n
10-year treasury<\/td>\n2.15<\/td>\n2.18<\/td>\n<\/tr>\n
10-year municipal (TEY)<\/td>\n3.46<\/td>\n3.53<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Treasury Yield Curve \u2013 09\/04\/2015<\/h3>\n

As of close of business 9\/03\/2015<\/p>\n

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

 <\/p>\n

S&P Sector Performance (YTD) \u2013 09\/04\/2015<\/h3>\n

As of close of business 9\/03\/2015<\/p>\n

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

 <\/p>\n

Economic Calendar<\/h3>\n\n\n\n\n\n\n\n\n
Sept 7th<\/strong><\/td>\n\u2014<\/td>\nLabor Day (markets closed)<\/td>\n<\/tr>\n
Sept 9thy<\/strong><\/td>\n\u2014<\/td>\nBank of Canada Policy Decision<\/td>\n<\/tr>\n
Sept 10th<\/strong><\/td>\n\u2014<\/td>\nBank of England Policy Decision
\nJobless Claims (week ending September 5)
\nImport Prices (August)<\/td>\n<\/tr>\n
Sept 11th<\/strong><\/td>\n\u2014<\/td>\nProducer Price Index (August)
\nUniversity of Michigan Consumer Sentiment Index (mid-September)<\/td>\n<\/tr>\n
Sept 15th<\/strong><\/td>\n\u2014<\/td>\nRetail Sales (August)
\nIndustrial Production (August)<\/td>\n<\/tr>\n
Sept 16th<\/strong><\/td>\n\u2014<\/td>\nConsumer Price Index (August)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\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 September 3rd, 2015.<\/p>\n

\u00a92015 Raymond James Financial Services, Inc. member FINRA<\/a> \/ SIPC<\/a>.<\/h4>\n","protected":false},"excerpt":{"rendered":"

Clarksville, TN – The economic data were mixed, but generally consistent with moderately strong growth. Unit auto sales improved in August. The ISM Manufacturing Index slowed. The Non-Manufacturing Index pulled back a bit after surging in July (still strong). The Fed\u2019s Beige Book described growth as evenly split between \u201cmodest\u201d and \u201cmoderate\u201d across the 12 […]<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[3],"tags":[4306,7670,1980,566,7819,1898,7701,7666,5117,5123,8488,7702,8434,8328,7035,8678,7671,7704,7667,5119,9284,1004,7668,5118,10470,1910,4305,7752,4619,3174,1903,7316,2038,1007,10441],"class_list":["post-10380","post","type-post","status-publish","format-standard","hentry","category-business","tag-bonds","tag-british-pound","tag-canada","tag-china","tag-clarksville","tag-clarksville-tn","tag-crude-oil","tag-djia","tag-dow-jones-industrial-average","tag-euro","tag-fm-investment-services","tag-fed","tag-fomc","tag-gdp","tag-gold","tag-ism-manufacturing-index","tag-japanese-yen","tag-mexican-peso","tag-msci-eafe","tag-nasdaq","tag-oil-prices","tag-raymond-james-investment-services","tag-russell-2000","tag-sp-500","tag-stanley-fischer","tag-stock-market","tag-stocks","tag-u-s-stock-market","tag-u-s-treasuries","tag-u-s-treasury","tag-unemployment-rate","tag-united-kingdom","tag-united-states","tag-weekly-market-snapshot","tag-yuan"],"_links":{"self":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/10380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/comments?post=10380"}],"version-history":[{"count":1,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/10380\/revisions"}],"predecessor-version":[{"id":10381,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/10380\/revisions\/10381"}],"wp:attachment":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/media?parent=10380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/categories?post=10380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/tags?post=10380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}