The Weekly Market Snapshot from Frazier Allen for the week of January 20th, 2013

By Frazier Allen | January 20, 2013 |

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

The economic data were mixed, but generally consistent with moderate growth in the near term. Retail sales and industrial production were largely in line with expectations. Jobless claims sank and housing starts jumped, boosting the major stock market indices, although seasonal adjustment likely played a part. The Fed’s two major regional surveys disappointed, reflecting contractions in new orders and employment and some pickup in input price pressures.

Earnings reports were mixed, but investors seemed more concerned with the path ahead.

Next week, the economic data calendar is relatively light. Home sales figures could be exaggerated by the seasonal adjustment. Annual benchmark revisions will be incorporated into the Index of Leading Economic Indicators, but the recent story is not expected to change much (and the drop jobless claims will make a significant positive contribution in the December calculation). Earnings should remain a factor for equities.

Indices

Consumer Money Rates

Currencies

Commodities

Bond Rates

Treasury Yield Curve – 01/18/2013

S&P Sector Performance (YTD) – 01/18/2013

Economic Calendar

Important Disclosures

US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.

Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.

Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.

Material prepared by Raymond James for use by its financial advisors.

The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business January 17th, 2013.

©2013 Raymond James Financial Services, Inc. member FINRA / SIPC.

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