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Spaulding Cory 129web3

Diana Smiley 129web

 

 

 

 

 

 Two trust administrators with Indiana Trust & Investment Management Company have recently earned professional designations awarded by the American Bankers Association.

R. Cory Spaulding, has earned the Certified Trust and Financial Advisor (CTFA) designation and Diana J. Smiley has earned the Certified Retirement Services Professional (CRSP) designation.  Both completed their respective course work through Cannon Financial Institute's Trust School, with Spaulding earning the distinction of being an Honor Graduate.

The CTFA is acknowledged as the standard of excellence for trust and wealth advisors, while the CRSP sets the standard for wealth management professionals specializing in retirement services.  These certifications are designed to assure clients that recipients have earned a formally accredited level of knowledge, skill and competence in their field.

The Markets

Volatility returned to the equities markets in the third quarter, impacted by economic stress in China (the world's second largest economy) and Greece, coupled with underwhelming corporate earnings reports and falling energy stock prices.  While some economic sectors, such as housing and unemployment, offered favorable news, others, including exports and wages, showed little in the way of positive movement.  As a result, the Federal Open Market Committee once again declined to raise interest rates, noting that inflation still hadn't reached the committee's preferred target rate of 2.0%.

Despite a closing rally in the major market indexes listed here, the third quarter ended a tumultuous period in negative territory.  The Dow closed the month of September down 243.33 points for the month and 1,334.81 points for the quarter.  The S&P fell 6.94% from the close of the second quarter and 6.74% for the year.  The nasdaq dropped 7.35% for the quarter, but only 2.45% for the year -- markedly less than the other major indexes listed here.  The Russell 2000 and the Global Dow suffered the biggest percentage losses for the quarter, falling 12.22% and 10.58%, respectively.

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Quarter Market Review

Please join us for our annual Client Reception.  Festivities will begin at 5:00 p.m. at the Hisory Museum.

Save the Date Cards 2015

The Markets (as of market close August 31, 2015)

Despite favorable economic news later in the month, the U.S. stock market was unable to recover all of its losses and closed in negative territory compared to July.  Key factors in the downturn include fear that China's economy is weakening, the steep drop in the price of oil, lackluster corporate earnings reports, and the potential for an imminent interest rate hike.  Each of the major market indexes listed here dropped between 6% and 7.50% for the month.  The Dow, down more than 6.50%, marked its largest percentage decline since May 2010.  Year-to-date, only the Nasdaq remained in positive territory -- but only barely.

At the close of August, the price of gold (COMEX) was $1,134.90.  Crude oil (WTI) prices remained below $50 a barrell, selling at $47.86/barrell by month's end.

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The Markets

 

 

The Markets (as of market close July 31, 2015)

Despite a generally sluggish economy, some mundane corporate earnings reports, the Greek debt crisis, and China's stock market upheaval, the stock markets posted moderate gains, for the most part.  The biggest gainer for the month was the Nasdaq, up 141 points to 5128, followed by the S&P 500, which ended the month higher by almost 2%.  The apparent prevention of a major economic meltdown in Greece may have prompted foreign investors to start buying as the Global Dow finished the month up over 1%.  As to the major U.S. stock market indexes, only the Dow remains in negative territory for the year, down 0.75%, with the remaining indexes in the black for the year.

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Market Month July 2015