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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 hope you had a nice weekend.
I heard something that really made me think this weekend. Although I can't tell you what the commercial was selling, the line that struck me was "the best way to predict the future is to create it". Wow, that is so simply put, yet it speaks volumes.
My question to you is, is there anything else I can be doing to make it easier for you to create your future? Please feel free to call me and discuss this anytime you have a minute.
I look forward to chatting with you very soon.
Fondly,
John
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| Market Commentary
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If stock investors were thinking it couldn't get any worse after the dismal performance from calendar year 2008, January's result didn't help one bit. The S&P 500 lost 37.0% (total return) in 2008, its poorest outcome in 77 years. The stock index followed up that debacle with an 8.4% decline last month, its worst January ever. It is encouraging, however, that the stock index begins February at 826, up nearly +10% over its close from 11/20/08 (source: BTN Research).
The Fed wrapped up a 2-day meeting last Wednesday, announcing that it will continue to buy substantial amounts of mortgage-backed securities in support of the US housing market, as well as possibly beginning the purchase of long-term Treasuries. The national average price of gasoline, reacting to OPEC's reduced oil supply, went up by 25 cents a gallon in January, reaching $1.87 yesterday (source: Federal Reserve, AAA).
Debate on President Obama's economic stimulus plan reaches the Senate today, this after the House voted 244-188 for an $819 billion package last Wednesday. Not one House Republican voted for the package while 11 Democrats voted against the president's plan. The version of the bill that may come out of the Senate could reach $900 billion in size (source: House of Representatives). |
| Notable Numbers for the Week:
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1. HUGE SUPPLY - The yield on the 10-year Treasury note rose from 2.22% on 12/31/08 to 2.85% on 1/30/09 (the final trading day of January 2009), a yield increase of +0.63% in a single month. The hike in yield is partially attributable to the anticipated $2-3 trillion of bonds the USA will originate in 2009 (source: BTN Research).
2. LONGER THAN MANY - If the USA is still mired in the recession that officially began on 12/31/07, then the current economic downturn began its 14th month yesterday. In the 12 other recessions our country has experienced since 1935 (i.e., the current recession is the 13th since then), only 2 slumps have lasted as long as 14 months (source: National Bureau of Economic Research).
3. NOT SUPER CLOSE - Only 10 of the previous 42 Super Bowls have been won by 5 points or less. Only one game (Super Bowl # 25) was decided by a single point (source: BTN Research).
4. MAIDEN VOYAGE - The Arizona Cardinals made their franchise's first Super Bowl appearance yesterday. Previous franchises performing in their initial Super Bowl have an 8-18 record (source: BTN Research). |
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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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