Weekly Market Update 7-9-2012
The major indices closed mixed last Friday as a week of slow trading was capped by a market-wide selloff on Friday. The retreat was driven by a mediocre June jobs report and fears about a jobless recovery. The S&P closed down only 0.55%, the Dow gained 1.35%, and the Nasdaq rose 0.08%.1
The U.S. suffered its third month of sub-100,000 jobs growth in June, adding just 80,000 new jobs. The economy needs an average growth of at least 125,000 new jobs per month in order to be considered healthy.
Consumer Alert: Online Billpay Scam
|July 3, 2012|
Back Pack Drive to Begin July 16, 2012
Dade City, FL June 12, 2012— First National Bank of Pasco is proud to announce its 4th Annual “Stuff the BackPack Drive.” School supplies or cash donations will be accepted July 16th through August 3rd at all three branch locations: 13315 U.S. Hwy. 301, Dade City; 4518 Gall Blvd., Zephyrhills; and 37215 S.R. 54, Zephyrhills. Branches are open Monday through Thursday 8:30 a.m. until 4:00 p.m., and Friday from 8:30 a.m. until 6:00 p.m. FNB Pasco will match all donations 100%.
Weekly Market Update 7-2-2012
While the first quarter of 2012 beat expectations, the second quarter poured cold water on investors’ hopes for a strong encore. Much like the last two years, the economy got off to a solid start only to falter in the spring. Despite a strong showing in the latter half of June, markets are down for the quarter, erasing some of the gains we saw in Q1. However, the major indices are still up significantly for the year. Since January 1, 2012, the S&P has gained 8.31%, while the Dow is up 5.42%, and the Nasdaq grew by 12.66%.