Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 7th, 2014
Clarksville, TN – There were plenty of economic data reports, but the financial markets mostly obsessed about other things (quarter–end positioning, soft global growth, geopolitical tensions, Ebola). The headline figures from the employment report were better than expected, a positive for stocks and a negative for bonds.
Nonfarm payrolls rose by 248,000 in September, while the two previous months were revised a net 69,000 higher. Some of the strength reflected a rebound from special factors that had reduced the August total.
Frazier Allen
Quarterly gains endure September’s volatility
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.
Frazier Allen
Valvoline Complete Car Care goes “pink” for Breast Cancer awareness
Clarksville, TN – The next time you drive down Wilma Rudolph Boulevard, you might notice the color scheme on the building of the Valvoline Complete Car Care Center.
Pink!
October is Breast Cancer Awareness month, and in a campaign to raise awareness to the fight against cancer, Valvoline painted their building pink.
Candace Ursery, President of Convenient Car Care Inc., who owns the Valvoline franchise in Clarksville explains their promotion:
Valvoline Complete Car Care on Wilma Rudolph Boulevard paints it’s building “pink” for Breast Cancer awareness Month.
Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 28th, 2014
Clarksville, TN – The economic data were mixed. The estimate of second quarter gross domestic product (GDP) growth was revised upward from 4.2% to 4.6%, as expected.
Existing home sales fell in August, reflecting a decline in speculators (i.e., fewer all-cash transactions). New home sales surged 18.9%, but that likely reflects the usual volatility in the data.
Durable goods orders fell 18%, reflecting an unwinding of July’s sharp spike in civilian aircraft orders. The three-month averages of shipments and orders for nondefense capital goods (ex-aircraft) suggest good strength in business fixed investments.
Frazier Allen
Clarksville Tennessee Top Ten City for Millennials looking for Bigger Paychecks
Clarksville, TN – Of the top 10 cities the Millennial Generation is looking to for bigger paychecks, Middle Tennessee lands two – Clarksville at 6 and Nashville at 10.
“Our dedication to recruit higher paying jobs and to create a top-rated quality of life, both of which are attractive to a young, educated workforce, is a driving force behind us making this list,” said Cal Wray, Executive Director of the Clarksville-Montgomery County Economic Development Council.
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 21st, 2014
Clarksville, TN – Fed policymakers reduced the monthly pace of asset purchases (QE3) by another $10 billion, to $15 billion, on track to finish buying at the end of October. The Fed repeated that “it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends.”
Fed officials’ projections of the appropriate year-end federal funds target rate indicated that most expect to begin raising short-term interest rates sometime in 2015, but there was a wide range in the individual forecasts (and implicitly, in their expectations of when rates will start to rise – with most spread roughly evenly between March and September).
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 14th, 2014
Clarksville, TN – The economic data calendar was thin. Retail sales rose as expected in August. However, the figures for June and July were revised higher.
While the pace of consumer spending growth does not appear to be especially strong into 3Q14, it’s not terrible weak either (and certainly not as bad as the data suggested a month ago). Financial market participants didn’t seem to care much about the retail sales data.
Global anxieties receded a bit as the “no” vote for Scottish independence regained an upper hand in the polls. The markets didn’t react much to President Obama’s call for military action in the Middle East.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of September 7th, 2014
Clarksville, TN – The economic data were mixed. ISM surveys were stronger than expected. Unit auto sales rocketed to a 17.4 million seasonally adjusted annual rate, the strongest pace since January 2006.
The Fed’s Beige Book, the summary of anecdotal economic information from the 12 Federal Reserve districts, was essentially more of the same (growth described as “modest to moderate”). The August Employment Report was disappointing.
Frazier Allen
Clarksville’s Premier Medical Welcomes Dr. Di’Net Sintim-Amoah to their Group Practice
Clarksville, TN – Premier Medical Group is pleased to announce the addition of Dr. Di’Net Sintim-Amoah to their Pediatric department.
A native of Greenville, Mississippi, Dr. Sintim-Amoah studied at Spelman College in Atlanta and earned her medical degree from the Morehouse School of Medicine. She completed her pediatric residency at Morehouse School of Medicine Pediatric Residency Program in Atlanta.
Dr. Di’Net Sintim-Amoah
Clarksville Weekly Market Snapshot from Frazier Allen for the week of August 27th, 2014
Clarksville, TN – Market participants had expected Fed Chair Janet Yellen to adopt a decidedly “dovish” tone in her Jackson Hole speech.
However, Yellen presented a balanced assessment of the evidence and theories of labor market slack. While Yellen still sees plenty of labor market slack currently, she left the monetary policy outlook as an open question.
She repeated the notion (also included in the FOMC minutes) that the Fed could firm monetary policy sooner if the economy strengthens more than anticipated, but could also tighten more slowly if the economy disappoints.
Frazier Allen
