To help our clients create a "Quality Life Plan" allowing them to plan and control their financial future.
Gateway Financial Advisors Inc.
Walnut Creek, CA 94596
Financial & Economic Brief - October 30th, 2013
• Euro Zone Debt Heavy - Little growth and high unemployment in Italy, Greece, Ireland, and Portugal, have defined the European Union’s most economically fragile members for the past 10 years.
• U.S. Stocks Even Before Meeting on Bonds - Recent data showed factory production was lower than the forecasted amount ahead of the Federal Reserve policy meeting this week to discuss cutting the $85 billion bond purchase program.
• JP Morgan Paying for Mortgage Trouble - JP Morgan is paying $5.1 billion to Fannie Mae and Freddie Mac to resolve issues around misrepresenting and selling risky mortgages and mortgage-backed securities.
Financial & Economic Brief - November 13th, 2013
• Gas Prices Decline - According to AAA, the national average price of gas is $3.19/gallon but may be dropping below $3.00 in the coming weeks.
• European Central Bank Surprises - Last week, the European Central Bank (ECB) cut its main refinancing rate to a record low, and printed trillions of dollars in reaction to the decline in inflation.
• Investors Anticipate Consumer Demand - After the longest stretch of weekly gains since February, U.S. stocks are holding relatively steady as investors await November earnings reports.
Financial & Economic Brief - December 2nd, 2013
• Slow Employment Recovery Boosts Markets - U.S. workforces remain 1.5 million below their 2008 level, despite the fact that markets are 5 years into a rally, according to Bloomberg data.
• Thanksgiving Day Shopping Cuts Sales on Black Friday - Total storefront sales increased slightly for Thanksgiving Day and Black Friday, up 2.3% from last year, to $12.3 billion overall, according to ShopperTalk a retail industry research firm.
• Manufacturing Grows to High - In November U.S. manufacturing grew to a 10-month high, additionally factory output and new orders grew at their fastest rates since March 2012 and January 2013.
Financial & Economic Brief - November 6th, 2013
• Deflation Risk in Europe - There is weak improvement in the European economy, punctuated by October inflation falling to 0.7% from 1.1% in September and record levels of unemployment, above 12%.
• U.S. Spending Plans Drop - New orders of U.S.-made, non-military capital goods other than aircraft, which is a gauge of business spending strategies, fell 1.3% during the month of October.
• Deutsche Bank Says Buy - As economic signs such as retail sales and jobs growth stumble, bonds are showing improvement.
Financial & Economic Brief - November 20th, 2013
• Bank Lending Strong - According to Boston Federal Reserve President Eric Rosengren, bank lending is “quite strong.”
• U.S. Health Care Trouble - A recent study conducted by The Commonwealth Fund finds that Americans are more likely to have trouble paying medical bills or getting a speedy appointment than 10 other high-income, industrialized countries.
• U.S. Markets Envied - Financial conditions in the U.S. are healthier than before the Lehman Brothers collapse in 2008, amidst the struggle in Asia and Europe.
Financial & Economic Brief - December 10th, 2013
• U.S. Stocks Rise -As budget negotiations carry on in Washington, U.S. stocks rose, continuing the biggest rally for the S&P 500 Index in four weeks.
• Good News for Job Market - In November, the unemployment rate fell to 7.0% as the U.S. economy added 203,000 jobs, attaining its lowest level since November 2008.
• Consumer Credit Grows - According to the Federal Reserve, U.S. consumer credit rose at its fastest pace in five months in October, increasing by $18.2 billion to $3.08 trillion.