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| J. PINK ASSOCIATES, INC.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190 Ph- (914) 524-7770
Elmsford, NY 10523 Fax- (914) 524-7771
Weekly Market Review |
| Greetings!
I hope you had a relaxing weekend and are enjoying the summer.
I am starting to receive statements in the office for the close of the second quarter. Please call or email us so we can set up a time to do a quarterly review. Please remember we can always do our meeting via Webex (you can see the reports on my computer screen as we are talking).
I look forward to catching up with you soon.
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Coming off its best S&P 500 quarterly performance in 10 ½ years (up +15.9% on a total return basis for the 3-months ending 6/30/09), investor optimism was high as stock trading began in July. The nation's monthly unemployment data (released on 7/02/09) seemed to take the wind out of the market and the lackluster feeling carried over into last week, the stock index's 4th consecutive down-week. The remainder of July will be "all about earnings" as the bulk of publicly held US corporations report their 2nd quarter performance numbers (source: BTN Research).
The price of oil fell to $59.89 a barrel last Friday, its first close below $60 a barrel since 5/19/09. The average price of gasoline nationwide dropped to $2.54 a gallon yesterday, the 21st consecutive day that the price of gas has fallen (source: NYMEX, AAA).
The House Financial Services Oversight and Investigations subcommittee will hold a hearing today to examine insider trading by government officials, including a recent report of alleged inappropriate trading by SEC enforcement officials. The bill H.R. # 682 has been introduced by 2 House Democrats to prohibit insider trading by members of Congress or their staff (source: House of Representatives). |
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Notable Numbers
1. CAUGHT IN THE MIDDLE - 40% of homes being foreclosed upon today by lenders are not owner-occupied, i.e., the foreclosed homes are occupied by renters (source: Seattle Times).
2. GREAT THREE MONTHS - The S&P 500 gained +15.9% (total return) in the 2nd quarter 2009 (i.e., April-May-June), its best quarterly performance in 10 ½ years. This most recent 3-month result was last bested by the stock index in the 4th quarter 1998 when the S&P 500 gained +21.3% The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: BTN Research).
3. HOUSING STATS - 35 million households rent an apartment. 76 million households own a home. Of the 76 million homeowners, 25 million own their home free-and-clear of debt and the remaining 51 million have a mortgage (source: American Housing Study, Census Bureau).
4. CHINESE CURRENCY - It was nearly 4-years ago (7/21/05) that China announced its fixed exchange rate (i.e., one Chinese yuan was set equal to 12.08 US cents) that had existed since 1994 had ended and the yuan would now be allowed to rise in value. The US began pressing China in May 2005 to revalue the yuan (aka the renminbi) by at least 10% or face protectionist action such as a 27.5% tariff on all imports from China. As of the close of trading last Friday, the yuan had risen +21% to 14.64 US cents but has been flat at that level over the last 12 months (source: Associated Press).
5. JUST PLAYING BALL - Nolan Ryan was the first major league baseball player to make $1 million in a season, earning that amount in 1980. By 1992, the average major league ballplayer made a $1 million a year. The average player will make $3.3 million during the current 2009 season (source: USA Today). |
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As always, if there's anything we can help you with, please feel free to call the office anytime.
I hope you have a great week.
Sincerely,
John
John W. Pink, Sr.
J. Pink Associates, Inc., Financial Advisors
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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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