Dean Foods saw the biggest loss in value, dropping from $10.21 a share in September to $8.84. Other losses were smaller, in the 1-to-3 percent range with Assurant dropping 5 percent.
A weak dollar made US exports more affordable oversees, creating gains for the manufacturing sector, said Mark Stephenson, financial adviser for Springfield-based Sterling Wealth Management. Oil production also increased with that demand, which can been seen in Robbins and Myers gains, he said.
Trucking companies that held onto their older trucks during the early part of the recession are now replacing them, he said. However, if oil prices continue to rise, those companies might begin to back off as their fuel costs increase.
Rising interest rates helped banks see gains in the fourth quarter with Fifth Third and Huntington both seeing more than 20 percent increases in the quarter. Home City Financial saw a 29 percent increase. More confidence in the recovery overall encouraged businesses to take out loans and banks to make those loans.
Consumer confidence was also seen over the holidays with retailers experiencing their best holiday season since 2006. At least one national retail chain, Dollar General, announced it would open 600 more stores in 2011, hiring more than 6,000 workers.
While Huntington’s stock nearly doubled in 2010, its value is still about half of what it was before the crash. Park National, on the other hand, saw a smaller gain in the fourth quarter but will end the year on the positive side by about 17 percent. The first quarter of 2011 should demonstrate how investors reacted to Huntington’s December announcement that it would pay back the TARP funds.
The rise in local stocks is indicative of an overall gain in the markets, which means individuals are beginning to see the value of their 401Ks and investment accounts rise, Stephenson said. Conversely, a rise in treasure yields means a loss in values for treasury bond holders. That could compel those investors to move back into the market.
Analysts predict a 12 to 15 percent increase in the S&P 500 for 2011.
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