Bohemia, NY (PRWEB) January 18, 2013
On January 18, Nassau County accounting firm Diapoules & Feinstein CPAs P.C. responds to an article published by naplesnews.com on the stock market’s progression in 2012 in spite of mounting economic turmoil in the U.S. and worldwide.
According to article by Gail MarksJarvis of naplesnews.com, “despite the fear that China had overdone it with real estate construction and was on its way to a hard landing…and despite the fretting over ingrained unemployment in the U.S., the Standard & Poor’s 500 index ended the year up 13.4 percent, at 1,426.” Meanwhile, Europe is continuing to handle its debt crisis and the rest of the world is adapting to its repercussions, reports the article.
With the global economic instability, the stock market’s rise in 2012 was a surprise to many economists. According to naplesnews.com, “An average year in the stock market provides investors with a gain of 9.8 percent.” Analysts discuss the change and what the consequences may be due to the issues worldwide.
According to Marvin Feinstein of Diapoules & Feinstein CPAs P.C., “As the article points out for 2012 all major stock indexes performed well. In our opinion, as long as there are no major hiccups they will continue to do well. It is remarkable how the markets filtered much of the noise regarding our just concluded presidential election and the continuing bad news from overseas. We should remember that investors do best when they use their common sense and buy value i.e. solid companies performing well.
Our optimism is due to the fact that there are many investors sitting on the sidelines and, with bond rates so low, there aren’t many alternatives to the stock market. However, of all the obstacles to our economic well-being stated in this article, one major obstacle not mentioned are the ongoing budget negotiations and the sequestering of federal funds. The passage of the “American Tax Relief Act” may have calmed nerves but they are soon to be riled with both sides taking hard stances. The one fact that cannot be denied is that any deep cuts to the Federal Budget will result in the stalling of our recent economic progress.”
Diapoules & Feinstein CPAs P.C. have been providing accounting, auditing and tax services to Greater New York City area since 1989. D&F provides our clients with great personal attention and years of professional experience in order to see them succeed and help them to feel confident.