Financial Matters

Semra Gul, M.Sc.

Syntec Corporation New Castle, Delaware

What prompted you to start volunteering with AWT?

I highly believe that we have a responsibility to society, to our work, to ourselves. Water treatment is one of the most important fields and is growing in scope. Because of the changing environment and market conditions, there are always things to make it better. I think we have so many responsibilities, such as creating projects, trainings, and/or sharing our experiences. Volunteering is one of the best ways to make contributions and be part of improving the market. I have been volunteering in so many organizations back in Europe, including both professional and nonprofit organizations. After I got involved in AWT and heard about ongoing projects, I wanted to be volunteer. Although I am a bit new in the organization, I am already excited about future projects.

What has been the most rewarding thing about volunteering?

Being part of the solutions, helping to improve, and continuing to learn are the most rewarding things for me. I feel this since it gives me a greater purpose of my profession, that I actually use my skills and knowledge to also make a brighter future.

How has volunteering improved your professional career?

As part of the nature of the job, you can always learn or improve yourself when you face new problems or examine/troubleshoot different facilities and systems. Experience contributes highly to our skills and careers. AWT has many valuable members in different areas. In other words, when you volunteer, you are involved in many projects, and you have a chance to have different experiences and solve problems. The project research, brainstorming, meetings, and shared experiences are important resources for me. They not only help me to keep up to date but also help to improve myself.

Why would you encourage others to become a volunteer?

Our job requires continual learning and growing. To improve our market, we must produce new projects. Since water treatment is a wide field, we always need new volunteers to be part of the solution or to improve. Being a volunteer on projects also helps with personal career development.

Tell us about a current project you or your committee is working on?

I am member of the Technical Committee and Cooling Committee and just joined the Pretreatment Committee. I am one of the newer members in the organization and on the committees. The Cooling Committee is very active. Although I haven’t been involved directly in any projects, there are so many exciting ongoing projects—Biofilm 2020 Analyst article, shared Cooling Water Program, Worker Protection in the Presence of Legionella, Source Water Legionella Study, TRTM Manual, Biocide Use Surveys, Non-Chemical/Non-Traditional Water Treatment.

What is a past project that your committee produced that you feel has had the greatest impact on AWT and why?

I am pretty new both to the United States and AWT. My observation is that the water treatment manual is one of the most important resources for not only water treaters but also customers.

How have you been able to utilize the expanded business connections you’ve made while volunteering?

Although being part of AWT family has already helped for networking and expanding business connections, volunteering is one of the best ways to be in contact with the professionals. Committee meetings, projects, and research are good opportunities for expanding business connections.

October 2020 Economic Update

U.S. Markets

Stocks dropped in September as investors worried about stalled fiscal stimulus talks in Washington, the upcoming election, and new coronavirus cases in Europe.

The Dow Jones Industrial Average, which lagged this year, slipped 2.28%. The S&P 500 Index lost 3.92% and the Nasdaq Composite declined 5.16%.

Tech Stocks Under Pressure

After a strong rally in August, investor sentiment quickly turned negative as technology stocks dragged down the overall market.

The retreat in the technology sector gathered steam as the month wore on, sending the tech-heavy Nasdaq Composite into correction territory over a three-day span following a recent record high. A correction is defined as a decline of at least 10% but not more than 20% from a recent high.

A Few Bright Spots

The month did offer moments of optimism, however, that sparked brief rallies, such as an increase in merger and acquisition deals and further reported progress on a COVID-19 vaccine. However, concerns about the November election, the fading hopes for a fiscal stimulus bill, and an increase in European COVID-19 cases weighed heavily on investor sentiment.

As September came to a close, the market cut its losses, surging on the final two days of trading as legislators appeared to reopen fiscal stimulus talks.

Sector Scorecard

All 11 industry sectors were lower in September, with losses in Communication Services (−6.61%), Consumer Discretionary (−3.15%), Consumer Staples (−3.71%), Energy (−17.56%), Financials (−6.35%), Health Care (−3.87%), Industrials (−2.04%), Materials (−1.52%), Real Estate (−4.05%), Technology (−6.03%), and Utilities (−0.37%).

What Investors May Be Talking About in October

The housing sector has been a bright spot in a challenging year and has seen strong consumer demand thanks to historically low interest rates.

Home building and home sales have set new records in recent months, while home builder confidence is at an all-time high. The National Association of Home Builders/Wells Fargo Housing Market Index posted a reading of 83 out of a possible 100 in September, well above its previous record high of 78.

Housing accounts for 15% of the nation’s gross domestic product, so investors may watch for the sector to retain its momentum in the fourth quarter and into 2021.

World Markets

International markets struggled amid more coronavirus cases in Europe and concerns over the tensions between the United States and China. The MSCI-EAFE Index fell 2.20% in September.

European markets were broadly weaker. France dropped 2.91%, Germany lost 1.43%, and the U.K. slipped 1.68%.

Pacific Rim stocks were mixed as Australia fell 4.04% and Hong Kong declined 6.82%. Japan notched a solid gain, tacking on 9.68%.

Indicators

Gross Domestic Product: The final reading of the second-quarter GDP showed an annualized decline of 31.4%.

Employment: The unemployment rate dropped to 8.4% as employers added 1.4 million jobs in August.

Retail Sales: Retail sales growth slowed in August, rising only 0.6% as the supplemental unemployment benefits expired at the end of July. The benefits helped buyers in prior months.