Clarksville Weekly Market Snapshot from Frazier Allen for the week of January 5th, 2014
Clarksville, TN – The economic data reports of recent weeks contained a few surprises. Consumer spending growth in 3Q13 was stronger than previously estimated, while monthly figures showed acceleration in spending growth in the first two months of 4Q13 (although this is somewhat inconsistent with the pace of income growth).
Right now, inflation-adjusted consumer spending (70% of Gross Domestic Product) appears to be on track for about a 4% annual rate in 4Q13 – impressive, although the current figures may be revised. Durable goods orders rose more than expected in November, with the details suggesting that capital spending plans were delayed due to the government shutdown.
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Jostens becomes Clarksville-Montgomery County Green Certified
Montgomery County, TN – The latest business to complete requirements for Clarksville-Montgomery County Green Certified and host a Green Ribbon Cutting is Jostens.
City of Clarksville Mayor Kim McMillan, Montgomery County Director of Administration, Phil Harpel, filling in for County Mayor Carolyn Bowers, Executive Director of the Industrial Development Board Mike Evans and Chamber of Commerce Director Melinda Shepard were there to congratulate the company for their work.
Jostons Green Ribbon Cutting Ceremony.
Batson Nolan PLC announces Jennifer Gower and Katie Downey join firm
Clarksville, TN – Batson Nolan PLC is pleased to announce the addition of two associate attorneys, Jennifer Gower and Katie Downey, to the firm.
Jennifer, a native of Springfield, Tennessee, received her undergraduate Bachelor of Arts degree graduating magna cum laude from the University of Tennessee in 2005. She received her law degree from the same school in 2009.
Jennifer Gower
Clarksville Weekly Market Snapshot from Frazier Allen for the week of December 30th, 2013
Clarksville, TN – Next week, the ISM Manufacturing Index is expected to be the highlight, although the December figures can be exaggerated by the seasonal adjustment.
Market participants are likely to look ahead to the Employment Report.
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of December 19th, 2013
Clarksville, TN – Taper, no tantrum. The Federal Open Market Committee decided to reduce the monthly pace of asset purchases from $85 billion to $75 billion in January. The FOMC added that it expects to further reduce the pace of asset purchases “in measured steps” depending on the economic data (that may mean every other Fed policy meeting in 2014).
It also emphasized that the federal funds target rate would remain in its current low range (0-0.25%) even after the unemployment rate falls below 6.5%.
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Fed to taper; Congress passes a Budget
Clarksville, TN – Federal Reserve policymakers decided to trim something other than trees at their December meeting.
The central bank made the long-awaited decision to begin reducing its monthly pace of asset purchases from $85 billion to $75 billion, starting in January 2014. This is the first step towards unwinding the economic stimulus.
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Stone, Rudolph & Henry CPAs and Albert W. Norris, CPA combine Firms
Clarksville, TN – The accounting firm, Albert W. Norris, CPA, announces its relocation to the offices of Stone, Rudolph & Henry, CPAs, PLC, at 124 Center Pointe Drive. This relocation is in anticipation of the combination of the firms in the second quarter of 2014.
“This strategic alliance provides us with tremendous opportunities to broaden our offering of professional services,” said Albert W. Norris, adding, “We are excited about being associated with a firm that has the stature and reputation of Stone, Rudolph & Henry.” [Read more]
Clarksville Weekly Market Snapshot from Frazier Allen for the week of December 15th, 2013
Clarksville, TN – House and Senate leaders reached an agreement on a mini budget deal. This isn’t the “grand bargain” that lawmakers were tasked with, but it will prevent a government shutdown in January. That removes a major uncertainty for the markets, but also for Federal Reserve policymakers.
The deal reduces (but does not eliminate) the impact of the sequester cuts to spending that were slated for mid-January. The deal does not address the debt ceiling, which will go back into effect on February 7th, nor does it prevent over 1.2 million from losing extended unemployment benefits at the end of this month.
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Agero receives Clarksville-Montgomery County Green Certification
Montgomery County, TN – The latest business to complete requirements for Clarksville-Montgomery County Green Certified and host a Green Ribbon Cutting is Agero.
City of Clarksville Mayor Kim McMillan and Montgomery County Director of Administration, Phil Harpel, filling in for Mayor Bowers, were there to congratulate the company for their work.
Agero receives Green Certification. (Montgomery County Government)
Clarksville Weekly Market Snapshot from Frazier Allen for the week of December 10th, 2013
Clarksville, TN – Fear of Fed tapering hung over the stock market. Market participants believed that the November Employment Report would be the deciding factor for whether the Fed will begin to reduce the pace of asset purchases this month.
The jobs report was stronger than anticipated, but not as bad as feared. Payrolls rose by 203,000, a bit more than expected (median forecast: +180,000), with a mild net revision of +8,000 to the two previous months. Job gains were relatively broad-based.
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