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The economy remains sluggish as the Fed remains on the sidelines. Investors are bracing for what could be a very disappointing earnings season. Sluggish growth has investors hoping for a lifeline from the Fed, but the latest minutes from the Fed offered few concrete signs that a new burst of liquidity might be forthcoming. That’s not a recipe for an upbeat equity market.
Weekly Market Report | Christian Financial Advisor
Europe is continues to haunt the markets with Spain the major point of concern as they are drowning in debt.

That’s really weak!
In the U.S. this week we saw a whole slew of weak preannouncements including:
• Advanced Micro Devices (AMD) reduced its Q2 revenue forecast, noting softer-than-expected sales in China and Europe as well as a weaker consumer buying environment.
• Applied Materials (AMAT) cut its 2012 business outlook due to weaker-than-expected near- term demand in its semiconductor equipment business.
• Negative EPS preannouncements from S&P 500 firms. Negative EPS announcements have topped positive preannouncements by a ratio of 3.6—the weakest since Q3 2001.

Where are the jobs?
The Fed announced this week that job growth is its top priority. Nonfarm payroll growth fell below 100K for three straight months. With so much uncertainty heading into the fall elections and the fiscal cliff of 2013 on the horizon, companies are not in a hiring mood.

Could we see Fed action on the way?
Ben Bernanke last month said, “We’ll continue to monitor the economy and see how things evolve. And if—again, we’re looking primarily at the labor market in this respect—if we’re not seeing a sustained improvement in the labor market, that would require additional action.” Three straight months of job creation shy of 100,000 would seem to fit the Fed chief’s requirement for more action. Stocks didn’t receive much encouragement form the Fed this week with a lack of clarity in the Fed minutes. With no concrete signs of QE3 ahead, stocks were stuck in the mud!

The Mighty Shrinking Trade Gap…It’s only an illusion!
The trade gap shrunk from $50.6 billion in April to $48.7 billion in May as exports increased and imports decreased. However, keep in mind, exports are still in a downward trend as overseas weakness persists. Export and manufacturing growth are two areas that have been bright spots in an overall sluggish recovery but they both continue to slow. New sectors need to kick up the growth in order to fill in the gap.

Small Business Blues
Small-business optimism receded to its lowest level since October of 2011. NFIB Small Business Optimism Index fell 3 points to 91.4. Labor market indicators, spending plans for capital equipment, and inventories took a beating, accounting for about 40% of the decline. As confidence continues to dwindle, hiring slows.

Another Illusion? Four-year Low in Weekly Jobless Claims
Weekly jobless claims dropped 26,000 to 350,000. Is this truly an improvement in the job market? It’s very doubtful! Strong auto demand may be reducing the layoffs and the timing of temporary shutdowns can prevent capturing seasonal effects. The 4th of July Holiday last week may have also distorted the data.

Danger in Spain
The June EU summit optimism has quickly faded with the Spanish 10-year bond briefly jumping above 7% (a dangerous level). EU talk that direct loans to banks would have to be guaranteed by the government hurt confidence. As EU plan details get rolled out, sentiment seems to retreat. The announcement of new austerity measures designed to meet deficit targets pushed yields lower, for the moment. Patchwork repairs in Europe have helped investor optimism for a week or two, but fixing sovereign debt issues and weak economic growth must be addressed in order to settle investor nerves.

Euro Hits Two-Year Low
The Euro was below $1.22 this week after the ECB’s rate cut last week and talk of more cuts. This has lead to less demand for the Euro. As the Euro gets weaker, the dollar continues to gain strength which will provide a headwind for earnings at multinational firms.

Stay Defensive!
At Faith-Based Investor we continue to seek out quality dividend paying companies paying at least a 3 to 4% dividend to outpace inflation. We continue to look for opportunities in our favorite defensive sectors – telecom, utilities, health care, and consumer staples. It’s better to be safe than sorry right now!

Want to schedule a free review of your 401k, retirement plan, or investment portfolio by a Christian financial advisor in your area? Click here for more information.

 

 

Many advisors seem to be neglect one important fact: It’s your money and not your advisor’s money. Building a solid portfolio with quality companies, gold, silver, and other commodities is a great idea regardless of the faith-based screening we do. If your advisor isn’t willing to listen to your requests, I would start interviewing an advisor who is in line with your beliefs and willing to listen to you.

Several questions arise as you near retirement concerning your life insurance needs. Should you keep that existing policy in place? If so, should you change the coverage amount?

On today’s edition of the Faith Based Investor radio show, Jay answers questions from listeners.

  • A Doctor asks if he should set up a SIMPLE IRA.
  • A school teacher wants to know why Jay isn’t a big fan of mutual funds.
  • A job changer wants to know what to do with his old 401k.
  • Then Jay tackles why you should "Go Global" when you invest and illustrates two ways you can accomplish this in your portfolio.

    Do you have a portfolio strategy that can survive and thrive come rain or shine?

    On today’s edition of Faith Based Investor radio, Jay Peroni discusses how you can build an all-weather portfolio strategy to be used for both good (and bad) markets.

    Jay also examines recent consumer spending trends to show you how to spot investment opportunities.

    He also shares how one of his own clients, who is strongly pro-life, built a solid investment portfolio that lined up with her beliefs.

    Finally, Jay provides a rundown on some of the latest 3rd quarter earnings reports.

    FTMDaily.com is proud to announce that beginning this Monday, October 17, we will begin hosting a brand new daily radio show dedicated to your finances. The show is entitled the Faith Based Investor with Jay Peroni, CFP.

    Get more information here >>

    On this week’s program, we begin with a brief update on the financial markets followed by this week’s Precious Metals Market Update with Precious Metals Advisor, Tom Cloud.

    Then, in Segment Two, Jerry be joined in a special interview with best-selling author, Greg Autry who has co-authored a provocative new book, with Dr. Peter Navarro, detailing the darker side of the rise of China. The book is entitled Death by China.

    And finally, in Segment Three, we’ll be joined by Retirement Specialist, John Bearss, in a special extended interview. Jerry will discuss with John the current state of retirement. Our discussion will include some key ideas and strategies for those nearing retirement to consider.

    Today, President Obama delivered his proposed 2012 budget to Congress… Total: $3.73 trillion in Federal spending for fiscal year 2012… Includes spending cuts and tax increases…

    The latest news on the post-Mubarak Egypt, plus an interview with Robert Wiedemer, the author of the book Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown

    This Week’s Topic: The Battle for Egypt. This week’s special guest interview: L.A. Marzulli. Follow the Money Weekly Radio is a financial radio show about the stock markets, commodities, energy investing, the global financial crisis, where to invest money, where to buy gold and silver, saving money, finding a financial advisor, and paying off debt. Hosted by economist and best-selling author, Jerry Robinson. For the best in financial news, listen to the Follow the Money Weekly Financial Radio Show.

    Listen as author Mat Stein explains how to survive when technology fails. Good information for preppers.

    Did you know that most people believe that they are adequately insured against disability because they think they have coverage through their employer or through the government. That’s probably why 80 percent of Americans don’t own private disability income insurance.

    Listen as author Barry James Dyke explains the corruption on Wall Street and his latest book, The Pirates of Manhattan.

    This Week’s Topic: How (And When) The Dollar Will Collapse. This week’s special guest interview: Bill Provenzano known as the Christian Trading Coach. Follow the Money Weekly Radio is a financial radio show about the stock markets, commodities, energy investing, the global financial crisis, how to prepare for the coming hyperinflation, where to invest money, how to buy gold, how to buy silver, saving money, finding a financial advisor, and paying off debt. Hosted by economist and best-selling author, Jerry Robinson. For the best in financial news, listen to the Follow the Money Weekly Financial Radio Show.

    Today let’s focus on State Death Taxes and Federal Income Taxes. States impose their own death taxes. You should be aware of what the death tax laws are in your state and how they may affect your estate.

    You should begin the estate planning process by understanding your particular circumstances, such as your age, health, wealth, etc. You will also need to have some understanding of the factors that may affect the distribution of your estate, such as taxes, probate, liquidity, and incapacity.

    This Week’s Topic: The Retirement Timebomb, What You Should Know. This week’s special guest interview: John Bearss. Follow the Money Weekly Radio is a financial radio show about the stock markets, commodities, energy investing, the global financial crisis, how to prepare for the coming hyperinflation, where to invest money, how to buy gold, how to buy silver, saving money, finding a financial advisor, and paying off debt. Hosted by economist and best-selling author, Jerry Robinson. For the best in financial news, listen to the Follow the Money Weekly Financial Radio Show.