Tuesday, December 10 2013 11:59 PM EST2013-12-11 04:59:04 GMT
(WMC-TV) - A proposal goes before the Shelby County Commission Wednesday involving a $20,000 pay raise for Shelby County Schools District Board members. That is a proposed raise of almost 600 percent forMore >>
A proposal goes before the Shelby County Commission Wednesday involving a $20,000 pay raise for Shelby County Schools District Board members. More >>
Tuesday, December 10 2013 11:58 PM EST2013-12-11 04:58:04 GMT
(WMC-TV) - As world leaders come together to honor Nelson Mandela, a young Memphis man looks back on the encounter he had with South Africa's former President more than a decade ago in Memphis. HistoryMore >>
As world leaders come together to honor Nelson Mandela, a young Memphis man looks back on the encounter he had with South Africa's former president more than a decade ago in Memphis.More >>
Tuesday, December 10 2013 11:31 PM EST2013-12-11 04:31:54 GMT
(WMC-TV) - A Crittenden County jailer was arrested for possession of drugs. Investigators charged David Polk in Shelby County Tuesday. The 52-year-old faces drug charges including the possession of cocaineMore >>
A Crittenden County jailer was arrested for possession of drugs.More >>
Tuesday, December 10 2013 11:21 PM EST2013-12-11 04:21:07 GMT
(WMC-TV) - The Shelby County Schools District board voted to approve the agreement made Monday between SCS and Germantown. Germantown's Board of Aldermen voted unanimously to approve an agreement betweenMore >>
The Shelby County Schools District board voted to approve a settlement agreement Tuesday with Germantown.More >>
Tuesday, December 10 2013 11:16 PM EST2013-12-11 04:16:32 GMT
(WMC-TV) ANDY, WILL IT WORK? Night View NV Glasses = DON'T BUY! These $9.99 pair of glasses make you look like an extra in Boogie Nights, but they promise to deliver visual clarity, particularly duringMore >>
These $9.99 pair of glasses make you look like an extra in Boogie Nights, but they promise to deliver visual clarity, particularly during night driving.More >>
Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
SOURCE Garzarelli Capital, Inc.
NEW YORK, Oct. 7, 2013 /PRNewswire/ -- Each week, Elaine Garzarelli sends out the Garzarelli Capital Client Letter late on Friday. Following is an excerpt from last week's that might be of interest:
"(Last) week the government officially shutdown nonessential services in the U.S. government. House Republicans insist that the government's new spending bill include provisions to either defund or disrupt Obamacare; while Senate Democrats insist that it does not. Obamacare is not directly tied to the funding, but it is being used as a bargaining tool. In addition, the debate involves what budget demands the Republicans will make in return for a resolution on the debt ceiling.
"There have been 12 shutdowns from 1976 to 1995, ranging from one to 28 days long. The last shutdown was in 1995 and lasted 26 days. There are an estimated 800,000 federal employees that have been furloughed. However, with continued QE from the Fed, we do not expect a big effect on stocks from the shutdown. We see, at worst, a 4.0 to 7.0 percent correction and so far, the S&P 500 is down -2.7 percent.
"Initially, stocks did not respond poorly to the shutdown. Obama warned that financial markets should take notice, he said 'I think this time is different. I think they should be concerned.' This comment from Obama and the pullback in stocks may give politicians reason to act sooner than later.
"Even though the direct impact of the government shutdown is forecasted to be modest short term, its effects can be felt if the impasse continues. It can affect consumer confidence, which could trim planned spending. The debt ceiling which comes to a head on October 17th and if not raised could cause a credit downgrade, which ultimately will create economic problems. We see zero chance of this.
"Treasury yields have declined on a flight-to-safety. The 10-year Treasury is now at 2.65, down from its recent high of about 2.96 percent – a big positive. At the same time, gasoline prices declined and the Fed's balance sheet continues to expand. Falling rates are good for housing, capital spending and the stock market.
"Our proprietary stock market indicator composite declined to 68.5 percent from 79.0 percent due to the downgrade of our sentiment indicator, Bloomberg Financial Conditions indicator and the ECRI weekly index. The majority of our indicators are either neutral or bullish. We recommend an unhedged position and declines, as mentioned above, should be limited to 4.0 to 7.0 percent. We look for a 15.0 percent gain in the S&P 500 over the next six to twelve months. We believe equities, which have been in a cyclical bull market that started in March 2009, are still the best investment. Our 'Sector Analysis' fund is up 23.0 percent year-to-date."
About Elaine Garzarelli Elaine Garzarelli, President of Garzarelli Capital, Inc., is an economist with a doctorate from Drexel University in economics and statistics. She worked for major institutional brokerage firms for over 15 years while perfecting her market and industry econometric timing models, and was ranked #1 for 11 consecutive years on Institutional Investor's "All-Star" team for Quantitative Analysis and was recently inducted into the Hall of Fame. She started her own companies in 1994, and currently runs the "Sector Analysis" fund.
The Ralph and Elaine Garzarelli scholarship is available at Drexel University for women majoring in economics.
Garzarelli Capital does not warrant or guarantee the accuracy or completeness of this report nor does Garzarelli Capital assume any liability for loss of any nature that may result from reliance by any person or institution upon any such information or opinions contained herein. Such information and opinions are subject to change without notice and are for general information only.
For further information, to receive this week's entire Garzarelli Capital Weekly Investment Letter, or to speak with Dr. Garzarelli, please contact Temin and Company at 212-588-8788 or firstname.lastname@example.org.
Monday, December 9 2013 9:30 PM EST2013-12-10 02:30:09 GMT
Over the weekend in Owensboro, officials with the Salvation Army were thrilled to find a gold coin in one of their red kettles. It was found wrapped up in a note that said it was from: 'Someone who lovesMore >>
Over the weekend in Owensboro, officials with the Salvation Army were thrilled to find a gold coin in one of their red kettles.More >>
Monday, December 9 2013 7:25 PM EST2013-12-10 00:25:38 GMT
(WMC-TV) - One hundred people will be without a job this holiday season as a factory in Olive Branch prepares to close. The plant was scheduled to close, but it will remain open for a few more weeks accordingMore >>
One hundred people will be without a job this holiday season as a factory in Olive Branch prepares to close.More >>
Monday, December 9 2013 5:51 PM EST2013-12-09 22:51:07 GMT
(WMC-TV) - A woman in Tipton County reportedly shot and killed her husband early Sunday morning. Just before 6 a.m., deputies responded to a shooting on Highway 14 South in Brighton. When they arrived,More >>
Angela Brewer originally told deputies she shot and killed her husband after she thought she heard an intruder outside.More >>
Monday, December 9 2013 11:10 PM EST2013-12-10 04:10:09 GMT
The government's recent efforts to cut down on Medicare fraud may be hurting the people who need help the most. People who have severe disabilities have been receiving letters denying payment for the wheelchairsMore >>
The government's recent efforts to cut down on Medicare fraud may be hurting the people who need help the most.
Tuesday, December 10 2013 6:15 PM EST2013-12-10 23:15:07 GMT
(WMC-TV) - Three Memphis women had a frightful weekend on the icy roads. Pamela Byrd Davis, 47, was driving home late Saturday night when she became involved in a multi-car pileup on the Walnut GroveMore >>
Three Memphis women had a frightful weekend on the icy roads. Pamela Byrd Davis, 47, was driving home late Saturday night when she became involved in a multi-car pileup on the Walnut Grove Road-Humphreys Boulevard overpass.More >>
(WMC-TV) – Have you thought this season about opening up your heart and your home to a sweet animal in need of one? This year, we introduce to you "The 12 Strays of Christmas". Action News 5 is partneringMore >>
Have you thought about opening up your heart and your home to a sweet animal in need this holiday season? AN5 is teaming up with the Humane Society of Memphis & Shelby County to bring you "The 12 Strays of Christmas."
Tuesday, December 10 2013 6:44 PM EST2013-12-10 23:44:06 GMT
(WMC-TV) - A Memphis man arrested on child abuse charges claims the 2-year-old victim got hurt when he was dancing with her. Stacey Liddell, 35, is charged with Haley's Law Aggravated Child Abuse andMore >>
A Memphis couple is on trial for punishing a little girl. Officers say they beat her with paddles.More >>
Monday, December 9 2013 7:10 PM EST2013-12-10 00:10:04 GMT
(WMC-TV) - A Mid-South man could face charges after investigators say his story about a home invasion does not all add up. Sheriff's deputies in Tipton County have been investigating a home invasion nowMore >>
A Mid-South man could face charges after investigators say his story about a home invasion does not all add up.More >>
Tuesday, December 10 2013 8:13 AM EST2013-12-10 13:13:18 GMT
(WMC-TV) - It is Kelvin Lake's goal to inspire his family and his entire congregation. That's right, he's the pastor of a church, who says his busy schedule is what helped him become overweight ... that,More >>
It is Kelvin Lake's goal to inspire his family and his entire congregation. That's right, he's the pastor of a church, who says his busy schedule is what helped him become overweight ... that, and the convenience of unhealthy food.More >>
Monday, December 9 2013 8:17 PM EST2013-12-10 01:17:55 GMT
The country music star who set the standard for live concert production in the 1990s is back. Garth Brooks is ready to tour the world again, and he's taking his whole band with him. Brooks remains theMore >>
The country music star who set the standard for live concert production in the 1990s is back. Garth Brooks is ready to tour the world, and he's taking his whole band with him.More >>