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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!
As the days grow shorter and the air gets cooler, I find myself planning for 2009 to come to and end. With that, I am also starting to look ahead to 2010. In thinking about the upcoming year, I am trying to find new ways to serve you better. If you have any suggestions as to how the J. Pink Associates team can better serve your needs, please let us know. Our focus this month will be to find ways to better serve our clients. We will use the month of December to prepare and implement any new ideas before the New Year. Thanks for your guidance and input. |
We may have received last week the evidence that our country's recession, which began at the end of calendar year 2007, is finally coming to an end. The size of the US economy grew by +3.5% in the 3rd quarter (over its level from the end of the 2nd quarter), its first "quarter-over-quarter" increase since mid-2008. Surprisingly, the good news was not greeted on Wall Street with the kind of buying spree that many had hoped for. The S&P 500, instead of rising, suffered its poorest weekly performance since mid-May, suggesting the data had already been discounted into market values (source: Commerce Department, BTN Research).
The Obama administration was picking their words carefully last week on just how well the US economy is performing. Treasury Secretary Tim Geithner acknowledged that positive signs are evident but admitted our recession remains "alive and acute" for many American families. Geithner however did point to statistics showing Americans are saving more and borrowing less than they have in many years (source: House).
Investors will be watching nervously to see if our nation's unemployment rate climbed to 10% in October. The government will release the monthly jobs data on Friday morning (source: Department of Labor). |
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Notable Numbers
1. QUITE A BULL - The 2007-09 bear market bottomed on 3/09/09. As the US stock market opens this morning (i.e., 1 week short of 8 months from the bear market low close), the S&P 500 is up +53% (i.e., change of the raw index value not counting the impact of reinvested dividends). The 2000-02 bear market bottomed on 10/09/02. As the stock market opened trading on 6/02/03 (i.e., 1 week short of 8 months from the bear market low close), the S&P 500 was up +24% (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).
2. LEAVE AS IS - In spite of a 2007-09 bear market that experienced a 57% "peak-to-trough" fall in the S&P 500 (i.e., change of the raw index value not counting the impact of reinvested dividends), 57% of equity investors have made no changes to their stock portfolios since the start of 2008 (source: Vanguard Center for Ret. Research).
3. SEVEN, NOT EIGHT - The S&P 500's streak of 7 consecutive up-months (on a total return basis) ended last Friday. The stock index lost 1.8% in October but has still gained +43.1% over the last 8 months (source: BTN Research).
4. DIDN'T START WELL - The S&P 500 may have gained +43.1% (total return) over the last 8 months (i.e., March through October), but the stock index lost 4.7% on the first trading day of March 2009, the 27th worst trading day in the last 50 years (source: BTN Research). |
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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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