Weekly Update

Financial markets rallied over the last week reversing a two week decline. The Dow was able to hold on to gains and close over 10,000 returning to levels not seen since October 22. Economic news continued to be mixed but was well received by investors looking for any signs of economic recovery strong enough to maintain the equity rally we’ve seen since late March. Yields increased as fixed income investors continue to remain concerned about the decline of the dollar and continued interest among some foreign governments to swap dollars for gold as their currency reserve. Market/Index 2008 Close Prior Week As of 11/06/09 Week Change YTD Change DJIA 8776.39 9712.73 10023.42 3.20% 14.21% S&P 500 903.25 1036.19 1069.30 3.20% 18.38% MSCI World 920.226 1106.170 1132.192 2.35% 23.03% Russell 2000 499.45 562.77 580.35 3.12% 17.71% Fed. Funds .25% .25% .25% 0 bps 0 bps 10-year Treasuries 2.24% 3.39% 3.54% 15 bps 130 bps Last Week's Headlines · Commercial property prices increased for the first time in more than a year based on the latest report from the MIT Center for Real Estate ·  Planned lay-offs fell for the third consecutive month in October according to Chancellor, Gray & Christmas ·  The Fed indicated that it is unlikely to raise rates for an “extended period” ·  Mortgage rates dropped below 5% for the first time in three weeks according to Freddie Mac   Upcoming Items of Interest Markets will be focused on news released over the weekend by the G20 indicating their intentions to continue to support the stimulus measures boosting the global economy. Thursday brings the latest employment news – initial and continuing claims (market consensus is for a slight decline in both), and Friday brings the latest U of Michigan Sentiment Index measuring consumer sentiment (market forecast is for a slight increase). Data source: All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Headlines and upcoming items of interest are pulled from published reports of Briefing.com and Reuters. Past performance is no guarantee of future results. The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell 2000 is a market-cap weighted index composed of 2000 U.S. small-cap common stocks. The MSCI World Index is a free-float adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.