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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're doing well and look forward to doing a quarterly review with you soon. Please call the office at your convenience so we can set up the time to do your review. |
Although the Dow Jones Industrial Average ventured over the 10,000 point level as far back as March 1999, last Wednesday's close over that arbitrary benchmark was greeted with enthusiasm by stock traders nationwide. Time will tell whether the index will slip back below 10,000 as it has done 25 times previously. The S&P 500, the more widely-used benchmark of investment managers, finished last week up +22.8% YTD as corporate earnings results from the 3rd quarter continue to impress market watchers. The significance of the mild inflation number for the country reported on Thursday was not lost on investors, showing that earnings growth has occurred without igniting inflation pressures (source: BTN Research).
The final results for fiscal year 2009 are in and they are not pretty. $2.1 trillion of tax receipts were not nearly enough to cover $3.5 trillion of government spending. The resulting $1.4 trillion of debt for the entire fiscal year was more than 3 times the previous record ($455 billion) set just last year (source: Treasury Department).
The Senate hopes to merge together health care bills from 2 different committees this week, leading the way to floor debate by the full Senate on the issue just a week from today (source: Senate). |
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Notable Numbers
1. BETTER RESULT - In the first 9 months of 2009, the total market value of all US stocks increased by $2.0 trillion, reaching $12.6 trillion on 9/30/09. Stock values fell by $7.1 trillion during 2008 (source: Wilshire).
2. MANIC MONDAY - The S&P 500 fell 20.5% on Monday 10/19/87 (22 years ago today), the largest single-day drop in the history of the index. The worst 1-day drop for the stock index this year was a 5.3% loss on 1/20/09. Both losses are based upon the change of the raw index on consecutive trading days and do not include the impact of reinvested dividends. 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. DOW - The Dow fell 508 points on 10/19/87 (22 years ago today), a record drop of 22.6% for the 30-stock index. The day became known as "Black Monday." The Dow's previous worst percentage drop was a 12.8% loss on 10/28/29, generally considered to be the start of the Great Depression in the USA. The Dow Jones Industrial Average is a popular indicator of the stock market based on the average closing prices of 30 active U.S. stocks representative of the overall economy (source: BTN Research).
4. MAYBE - Preliminary discussions have taken place in Washington within the House of Representatives regarding a new tax on financial transactions, e.g., a tax that could be as large as ¼ of 1% of the value of every stock trade. If enacted, a tax of $1 would be levied for every $400 of a stock trade (source: WSJ). |
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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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