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Weekly Market Pulse E-Newsletter |
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Welcome to the Klaas Financial, inc. weekly market pulse e-newsletter. Our objective with this e-newsletter is to provide you with current financial and economic information each week along with any other important information related to Klaas Financial, inc.
We do our best to keep the weekly e-newsletters very short and sweet so that you can read them quickly and get on with your day. Below is a sample…
WEEKLY MARKET PULSE KLAAS FINANCIAL, inc.
For the week of 3/7/11 – 3/11/11
This was a rough week in the markets with a plethora of negative news and economic reports leading the headlines. For the week the Dow was down 1.04% and ended at 12,044, the S&P 500 was down 1.29% and ended at 1,304 and the NASDAQ was down 2.48% and ended at 2,715.
Since the beginning of 2011 the Dow has been hovering near the 12,000 mark, and since February 1st had not closed below 12,000. However, at the end of trading on Thursday, March 10th, the Dow closed at 11,985. This could potentially be significant since analysts see the 12,000 mark as a “support level” in the minds of traders that could give way to more downside once it is broken. Only time will tell if this is the beginning of a minor market drawback or just another bump in the road.
On Monday of this week the markets were down primarily due to the ongoing crisis in Libya and the mounting debt problems in many European countries.
On Tuesday the markets rebounded due to a boost from bank stocks and a general easing of oil prices that was driven by Saudi Arabia and Kuwait stating that they will increase their output to offset any drop in supply from Libya.
On Wednesday the markets were mixed and ended the day with modest decreases across the board. Many people may not remember, but Wednesday of this week (3/9/11) represented the 2 year anniversary since the bottom of the Dow back in March of 2009 when the Dow closed at 6,547.
On Thursday the markets sold-off on heavy volume as it appears that investors and institutions “fled to safety” in light of escalating conflicts between protestors and security forces in Saudi Arabia and Libya, debt downgrades in Europe and rising unemployment claims in the United States.
On Friday the markets recovered slightly from their big sell off on Thursday. However, the big news of the day was the massive earthquake in Japan that caused tsunami waves that stretched from Asia to California. Next week’s market action should give us more of an indication on how this event could affect investor confidence going forward.
In local news the Wisconsin measure stripping employees of most collective bargaining right was passed Thursday in the Wisconsin Assembly by a vote of 53-42. The bill is now being sent to GOP Governor Scott Walker where he promises to sign it into law as soon as possible. This vote came 1 day after some dramatic action that was taken by the Republican-controlled Senate, which used some “legislative maneuvering” to quickly adopt a revised version of the original Budget Repair Bill without any of the 14 Democrats who fled to Illinois three weeks earlier in protest of the original Budget Reform Bill. In the aftermath of this hot debate, rumors of recalls on 8 Republican and 6 Democratic Senators are already circulating.
*This is for illustrative purposes only and is not indicative of any investments. Investment value will fluctuate with market conditions. Past performance is no guarantee of future results.
KLAAS FINANCIAL, inc.
Craig M. Klaas – craigk@klaasfinancial.com Steve Schou – steves@klaasfinancial.com Michael (Mike) Todryk – mtodryk@klaasfinancial.com Maleeah Cuevas – maleeahc@klaasfinancial.com Craig J. (C.J.) Klaas – craigj@klaasfinancial.com
815-877-8440 (Northern Illinois) 608-442-5637 (Southern Wisconsin)
(Sources: finance.yahoo.com, www.bloomberg.com, www.economy.com, www.ny.frb.org, www.newyorfed.org, www.mworld.com, www.htrnews.com ) PLEASE DO NOT RESPOND TO THIS EMAIL WITH QUESTIONS OR COMMENTS AS WE PREFER DIRECT COMMUNICATION VIA TELEPHONE WITH OUR CLIENTS, PROSPECTS AND FRIENDS. THANK YOU.
Klaas Financial, inc. is a separate and unrelated company of Investacorp, Inc, Investacorp Advisory Services, Inc. and its affiliates.
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The thoughts in this email are personal impressions regarding events and trends that we see in the markets and the economy. These impressions are gathered from sources that we believe to be reliable but even so they may contain inaccuracies. This email is primarily meant to enhance and encourage communication and is not intended to be a buy or sell recommendation. We encourage you to call us if you have any questions or comments.
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