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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'd like to start off by wishing you a joyous holiday season. I'm hopeful that your Thanksgiving was a great beginning to a wonderful end of the year. I kept myself very busy during the holiday catching up with a few friends from High School. It was a lot of fun.
As the year winds down and I continue to focus on 2010, I would like to know if you have any new plans or goals for next year that I can help you with. For example, if you've been meaning to create a household budget or create a balance sheet so you can see all of your assets on one page, we would be happy to help you organize that information. Feel free to call the office and tell us how we can assist you. |
On a day when many Americans were preparing for a relaxing 4-day Thanksgiving weekend, disturbing news released last Wednesday from half-way around the globe shook the financial markets worldwide. Dubai World, its country's largest conglomerate, requested a 6-month delay until late May 2010 of interest payments due on $60 billion of debt. Fears that this could lead to massive defaults on loans made to Dubai by the UK, France, Germany, the US and Japan caused immediate ripples throughout the bond and stock markets globally. Investors worried, possibly prematurely, that Dubai World's troubles could evolve in the same way that the collapse of Lehman Brothers did in September 2008 (source: Financial Times).
Shortly after the news from Dubai was being released, the S&P 500 closed for trading on the day before Thanksgiving at 1111, a high for calendar year 2009. Veteran stock investors may remember that the S&P 500 finished 2003 (i.e., almost 6 years ago) at 1112 (source: BTN Research).
It's back to work for Washington this week. President Barack Obama will hold a jobs forum on Thursday (12/03/09), bringing together ideas to reduce our nation's 10.2% unemployment rate. Also on Thursday Ben Bernanke will be questioned by the Senate Banking Committee regarding his nomination for a 2nd term as Fed Chairman. The Senate is back in session today and will begin debate on their version of health care reform. Whatever bill they are able to agree upon will ultimately have to be reconciled with the House bill that was passed on 11/07/09 (source: BTN Research). |
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Notable Numbers
1. THE LAST MONTH - December has been the best performing month for the S&P 500 since 1990, producing an average gain of +1.9% (total return). The stock index is up +23.6% YTD on a total return basis through last Friday's (11/27/09) close of business. 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. WORSE OFF - More than 1 in 3 Americans (36%) that were surveyed in late October 2009 believe their personal economic situation has deteriorated in the last 12 months (source: SRBI Public Affairs).
3. OPTIMISTIC - Nearly half of Americans (46%) that were surveyed in October 2009 anticipate that they will be better off financially in 2010 than they were in 2009 (source: Money).
4. HOLIDAY SHOPPING - Today (11/30/09) is known as "Cyber Monday" in the retail industry, i.e., the Monday after Thanksgiving. Total web sales last year (2008) on "Cyber Monday" were $846 million, up from $733 million in 2007 and $608 million in 2006 (source: ComScore Inc.). |
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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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