High Net Worth Investor— Mid Day Reversal?

If you woke up this morning wanting to see volatility in the financial markets you certainly have not been disappointed today!  The S&P 500 was quickly down 12 points this morning and then rebounded to up 2 points in early afternoon after a new Greece Poll was released suggesting the New Democracy party has a slight lead over the Syriza.  It is important to note that New Democracy is the largest pro-bailout party while Syriza has been calling for the cancellation of all existing bailout agreements.

Most of the economic data that was released today including jobless claims and GDP were below expectations, so the markets continue to trade on rumors and speculation until the data points show signs of improvement. 

Tomorrow, we will get the all-important Jobs number.  Expectations are for approximately 150,000 new jobs created in the private sector.  I along with everyone else will be watching this number with high anxiety considering the current backdrop we are in.

I can be reached at 239-288-6542 if you would like to discuss anything further.

 

Past performance is no guarantee of future results.  The S&P 500 is an unmanaged index.  It can’t be directly invested in.

Eric Marvin, CFP®, CRPC®

JPT053112-1004

High Net Worth Investor— Europe, Europe, and More Europe…

As I write this we are experiencing extreme volatility in markets around the world today.  The worry today appears to be none other than the Euro Zone again.  What a surprise!  In addition, we had several poor economic data points released both in Europe and the United States, which certainly didn’t help the cause either. 

If you are like me then you are probably getting fed up with worrying about the same thing over and over again.  However, in my opinion things will not begin to change until progress is made in the following areas:

1)     A new government is elected in Greece

2)     Whether Greece decides to stay in the Euro?

3)     Whether Spain can control their borrowing costs and regain confidence in the banks?

4)     What role Germany and France will play?

I can be reached at 239-288-6542 if you would like to discuss anything further.

 

Past performance is no guarantee of future results. 

Eric Marvin, CFP®, CRPC®

JPT053012-996

High Net Worth Investor— Rally following Memorial Day?

With the second round of elections in Greece still over three weeks away this saga will continue to play out minute-by-minute in the financial markets. 

Consumer confidence fell to a four month low today, but housing data that was also released seems to be taking center stage because it is showing how some of the most beaten down areas in housing seem to be stabilizing across the country. 

Keep in mind that since April 1^st volatility across the globe has increased tremendously in anticipation of unknown future events. 

I encourage you to reach out and ask questions of your financial professional during these uncertain times.  Also, I can be reached at 239-288-6542 if you would like to discuss anything further.

 

Past performance is no guarantee of future results. 

Eric Marvin, CFP®, CRPC®

Naples and Fort Myers, FL

JPT052912-988

High Net Worth Investor— Could Greece really drop the Euro?

Well, at this point I am certainly getting tired of talking about the latest problem over in Europe.  The markets are clearly frustrated with the lack of clarity about the future, thus they have been gyrating all over the place.  When global financial markets start trading on rumors and speculation it only takes the slightest headline to make an impact.  The validity of the rumor is not important, but rather how many people decide to trade on it.

We must wait until June 17^th for a second election to take place in Greece before we can get a better feeling for their desire to continue using the Euro as a currency.  The possible repercussions of going back to the Drachma are not desirable given the fact that this has never happened before.  You certainly would see an immediate devaluation of the new currency and lots of nervous people standing in lines at the banks.

Politicians like to work well under deadlines and we will have to see if they can come up with something of substance this time around.

Until we have more clarity about what may develop in Greece please stay safe out there and don’t be afraid to ask questions from your financial professional.

I am always here to help and can be reached at 239-288-6542 for further questions.

Past performance is no guarantee of future results. 

Eric Marvin, CFP®, CRPC®

JPT052512-980