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Featured Advisor

Ed Meek
CEO/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Economy Hit a Soft Patch in April

High gas prices and unusual weather depress spending anbd home sales in April

An increase in consumer confidence gives some hope for an economy characterized by anemic consumer spending and a decrease in housing activity in April, according to economic reports released today.


Consumer confidence rose to 74.3, a three-month high in April, according to the Thomson Reuters/University of Michigan Consumer Sentiment Index released today. The boost is attributed to gains in private sector jobs and a decline in gas prices, but confidence remains well below pre-Recession levels.


Consumer confidence is linked to spending, which rose a scant 0.4 percent in April, while disposable income rose by 0.3 percent in April. Inflation eroded income gains, the Bureau of Economic Analysis reported today.


The housing market remains sluggish as indicated by the number of housing contracts signed in April. The month’s Pending Home Sales Index dropped 11.6 percent to 81.9 in April, the National Association of Realtors reported today.


“The pullback in contract signings is disappointing and implies a slower than expected market recovery in upcoming months,” said Lawrence Yun, NAR chief economist. “The economy hit a soft patch in April from sharply rising oil prices, widespread severe weather with the heaviest precipitation in 20 years, and a sudden rise in unemployment claims.”


Tight credit is a key long-term factor holding back the housing market, said Yun, who predicts a sluggish and uneven recovery.