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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 nice weekend. I can't believe we're in February already. It seems lately the weeks pass as if they were days. Before we know it spring will be here and we will be out enjoying the flowers and trees as they bloom. I guess I should start planning my garden for the upcoming season.
In addition to planning my garden, I also plan to start training to run my first marathon. A friend of mine has challenged me to run the Marine Corp. Marathon with him this coming fall (10/31/2010). Running a marathon is one of those things I want to be able to say I have completed. So, as soon as the cold weather breaks, I will be out and running.
What plans/ goals have you set for yourself for this year? I would love to hear about them. In fact, I'd love to cheer you on as you get closer.
Of course, if there's anything I can do to help you get closer to your financial goals; I'm always here to help.
Wishing you a great week. |
Since the Federal Reserve was created 97 years ago, the workings of our nation's central bank have largely been conducted outside the whims of emotions that commonly flow from Capitol Hill. But Ben Bernanke's role in creating the environment that produced our financial crisis served as a lightning rod for the many senators who also failed to anticipate the economic storm that exploded on Wall Street in the fall of 2008. The 30 senators that voted last week in opposition to Bernanke's confirmation to run the Fed for a 2nd term were the largest number of dissenting votes against a Fed Chairman since 1983 (source: Federal Reserve).
Last week's bad financial news was that the S&P 500 fell 3.6% (total return) for the month of January, the 3rd consecutive year that the stock index has begun a calendar year with a down month. The good financial news from last week was that the US economy grew by +5.7% in the 4th quarter (i.e., quarter-over-quarter change expressed as an annualized result), the economy's best performance since the 3rd quarter of 2003 (source: Commerce Department).
President Obama will submit to Congress his budget for fiscal year 2011 this week (i.e., the 12 months ending 9/30/11). Just last week, Obama proposed a 3-year freeze on all domestic spending except for expenditures relating to Social Security, Medicare, Medicaid and our national defense (source: White House). |
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Notable Numbers
1. IN THE NEXT YEAR - The S&P 500 has gained at least +25% (total return) 8 times in the last 25 calendar years (i.e., 1985-2009), including last year (the stock index gained +26.5% in 2009). In the calendar year following the 7 previous "25% and up" years, the S&P 500 was up 6 out of 7 years, gaining an average of +14.8% annually. 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. RATES GOING UP? - There are now just 2 months remaining (i.e., February and March) in the Fed's program to purchase $1.25 trillion of mortgage backed securities. The program, which originally began with Fed purchases in March 2009, will stop by the end of next month. Eric Rosengren, the President of the Federal Reserve Bank of Boston, predicted last month that mortgage interest rates will rise by as much as 0.75% when the purchase program ends (source: Federal Reserve).
3. UNTHINKABLE - The USA is projected to average a deficit of $605 billion per year for the next 10 fiscal years (i.e., 2011-2020), equal to $69 million of deficits per hour for the next decade (source: CBO).
4. LOOKING BACK - 55% of retired Americans surveyed (including those that had previously used a planner and also those that have never used a planner) wished that they had used or consulted with a financial planner earlier in their life as they planned out the finances of their retirement years (source: Merrill Lynch). |
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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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