Q1 2014 Economic Update

Our Trust & Investment’s “What Matters Most” conference call for the first quarter of 2014 will be an economic update from our very own Sr. Investments Officer, L. Scott Rush, CFA. [audio:2014-02-economic_conference_call.mp3] The last three months of 2013 were relatively placid on Wall Street. Interestingly, the day that many investors dreaded turned out to be the best trading day of the quarter. The Dow rose 292 points on December 18th, when the Federal Reserve announced the oncoming tapering of its economic stimulus. The DJIA gained 9.56% in Q4, and the Nasdaq and S&P 500 did even better. Key foreign indices advanced, even though economic indicators from Europe and China were decidedly mixed. Mortgage rates increased and the housing market cooled down a bit. Gold sank and oil rebounded. Consumers grew more optimistic about the economy, but also grew frustrated with both Congress and the Affordable Care Act. Last year was the best for the S&P 500 since 1997 and the worst for the VIX Index since 2009. Will 2014 offer returns anywhere close to these? We are coming off a robust year in market returns and are eager to hear what Scott and the investments team observes in the economy as we move forward into 2014. [info_box]These conference calls are intended to provide accurate and reliable information in regard to the subject matter. The material is provided with the understanding that First United Bank & Trust is not engaged in rendering legal advice or accounting services. If legal advice is needed, it is recommended that participants consult their own legal counsel.[/info_box]

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