Broker Check
181 East Main Street, Suite 7 Hendersonville, TN
545 N. Mt. Juliet Road, Mt. Juliet, TN


Contact Us Today


March 18, 2013: Best Streak Since 96'

| March 18, 2013
Share |

Markets experienced another hot week as the Dow posted its best winning streak since 1996, with ten days up in a row, while the S&P 500 inched within 10 points of its historical high before closing lower on Friday.[i] For the week, the S&P 500 gained 0.61%, the Dow gained 0.81%, and the Nasdaq gained 0.14%.[ii] 

Were disappointed to report that lawmakers dont appear to be making any headway on the sequestration front. President Obama met with House Republicans last week but made little progress in convincing them to accept tax increases as part of a deficit reduction plan. With criticism flying from both sides, it seems that they are still too far apart to hope for a deal.[iii]

On a more positive note, the number of Americans filing new unemployment claims fell for the third straight week, indicating that the labor market is recovering steadily. Initial claims dropped by 10,000 claims, handily beating expectations of a rise in claims. Even better, the four-week moving average for new claims, widely considered a less volatile measure, fell to a new five-year low, suggesting that underlying labor market trends are improving.[iv]

A surge in energy costs led to an increase in the Consumer Price Index, a broadly used measure of inflation. The CPI increased by 0.7% in February after remaining flat in January. However, excluding volatile food and energy prices, the more stable core prices increased just 0.2%, which was in line with expectations.[v]

Historically, markets have often pulled back after reaching historic highs. While we believe that general economic trends are heading in the right direction, in the short term, we won't be surprised by some market consolidation as traders take profits and plan their next moves. We always maintain focus on long-term financial movements and use these short-term dips and rallies to build new positions and find opportunities.



Wednesday: Retail Sales, Import and Export Prices, Business Inventories, EIA Petroleum Status Report, Treasury Budget
Thursday: Jobless Claims, Producer Price Index
Friday: Consumer Price Index, Empire State Mfg. Survey, Treasury International Capital, Industrial Production, Consumer Sentiment

Notes: All index returns exclude reinvested dividends, and the 5-year and 10-year returns are annualized. Sources: Yahoo! Finance and International performance is represented by the MSCI EAFE Index. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly.

The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. 

The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. 

The Nasdaq is a computerized system that facilitates trading and provides price quotations on some 5,000 of the more actively traded over-the-counter stocks

Share |

Check the background of your financial professional on FINRA's BrokerCheck.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Danny Prestage, a registered representative, offers securities through Triad Advisors, LLC. Member FINRA & SIPC. Wesley Wood and Danny Prestage (Investment Advisor Representatives) offer Investment advisory services through Key Capital Management, Inc. Key Capital Management, Inc. and Triad Advisors, LLC. are not affiliated.

We currently have individuals licensed to offer securities in the states of; Arizona, Florida, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, West Virginia, Wisconsin. This is not an offer to sell securities in any other state or jurisdiction.

Wood Financial Group, LLC is also a tax preparation business, performed by Wesley Wood and Danny Prestage. This activity is separate from and independent of Triad Advisors and its affiliates.

Triad Advisors and its affiliates are not in the business of giving tax advice, consultation and/or tax preparation services and are not responsible for any outside businesses or persons providing such services.

This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher, and host are not providing legal, accounting or specific advice to your situation.