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| J. PINK ASSOCIATES, INC.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190
Elmsford, NY 10523
Ph... 914-524-7770
Fax. 914-524-7771
Weekly Market Review |
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| Greetings!
I think this is important enough, it bares repeating...
As the year winds down, I find myself setting goals for the upcoming year as well as thinking of what resolutions I will be making on New Year's Eve (I'm going to lose weight this year for sure, I just know I am). I suspect you might be thinking of your goals and resolutions too. As you do this, I have two items for you to add to your list (don't worry they're not big ones)
- Make an appointment to meet with me so we can start the year off by reviewing exactly where you are with respect to your financial goals
Take a moment to tell me how my team & I can better serve you
The second bullet point will help me with one of my goals which will be to continue to improve my service to you. This is very important, yet something I can only accomplish with your input. So please, help me help you. Tell me what I can do to be more valuable to you.
Thank you.
Happy Holidays,
John |
| Market Commentary
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A $3.4 billion bailout of the auto industry was announced last Thursday by the government. No, not the US auto industry, but rather this rescue was conducted by the Swedish government for its ailing auto business. The $14 billion package for the US auto industry failed in the Senate late last week and appeared to be dead, but the White House is now considering using funds already approved through the legislation signed by President Bush on 10/03/08 (source: USA Today).
The worldwide year-over-year demand for oil is expected to drop in both 2008 and 2009, the first decline in oil demand since a 4-year period that ended in 1983. OPEC may consider a "severe" production cut when they meet this Wednesday in Algeria to offset the global drop in demand for its commodity (source: Reuters).
The 538 members of the Electoral College will cast their votes for president today. If they follow the will of the voters from the November election, Barack Obama will defeat John McCain 365-173. The votes are to be counted in Congress on Thursday 1/08/09. The Fed holds their final scheduled meeting of the year today and tomorrow in Washington and may drop short-term interest rates below 1% (source: BTN Research). |
| Notable Numbers for the Week:
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1. NOT WORTH AS MUCH - 100 days ago . . . the stock market capitalization of the S&P 500 was $10.9 trillion. As of last Friday's close of business, the market capitalization of the stock index had fallen to $7.7 trillion, a loss of $3.2 trillion. By comparison, the US government spent $3.0 trillion for the entire 2008 fiscal year (source: S&P, Treasury Department).
2. AMAZING VOLATILITY - 100 days ago . . . was 9/06/08. As of that date, the S&P 500 had produced 26 days with a gain or loss of at least 4% in the previous 7,626 days, a period of almost 21 years. As of today, the S&P 500 has had 26 days with a gain or loss of at least 4% in the last 100 days (source: BTN Research).
3. GAS - 100 days ago . . . the nationwide average price of a gallon of gasoline was $3.67. The average gas price fell for 86 consecutive days, a streak that ended last Saturday (12/13/08). The cost of a gallon of gasoline dropped to $1.66 on Saturday, down $2.01 from 100 days ago (source: AAA).
4. OIL PRICES - 100 days ago . . . the price of oil was $106.23 a barrel. The price of a barrel of oil closed last Friday at $46.28, down $60 a barrel or 56% in the 100-day period (source: New York Mercantile Exchange).
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At J. Pink Associates, we do comprehensive financial planning and wealth management for families and small businesses by getting to know the unique details of your financial world and thoughtfully crafting a strategy to identify and support your goals.
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This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Past performance does not guarantee future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.
Securities and Investment Advisory Services offered through NFP Securities, Inc. a Broker/ Dealer, Member FINRA/ SIPC and a Federally Registered Investment Advisor.
NFP Securities, Inc. does not offer tax or legal advice
NFP Securities, Inc. Is not affiliated with J. Pink Associates, Inc., Financial Advisors
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