Higher Tariffs Take Effect
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Featured Article: Higher Tariffs Take Effect
Quote of the Week
Recipe of the Week: Garlicky Dill Pickles
The Week on Wall Street
As we noted recently, Wall Street has a wandering eye. Last week, it focused on the new tariff threats in the ongoing U.S.-China trade dispute. Stocks fell across five trading sessions: the Dow Jones Industrial Average lost 2.12%, the S&P 500, 2.18%; the Nasdaq Composite, 3.03%. International stocks also fell: the MSCI EAFE index declined 3.06%.
Earnings and big-name initial public offerings mattered little last week. Traders were more concerned about how consumers and corporations might be affected by higher import taxes in future quarters.,
At 12:01 a.m. Friday, duties on $200 billion worth of Chinese products coming to the U.S. rose from 10% to 25%. Just days earlier, President Trump had tweeted that the U.S. might also tax another $325 billion of Chinese imports, mainly consumer goods.
While the proposed new taxes might take months to implement, institutional investors reacted negatively to this information, perceiving that trade talks were stalled.,
A few weeks ago, market watchers noted the huge number of initial public offerings anticipated for 2019. One well-known tech firm completed its IPO on Friday, and the wave of tech IPOs is still building. According to research firm CB Insights, the average stock market valuation of the venture-capital-backed tech companies going public this year is $9.6 billion.
THE WEEK AHEAD: KEY ECONOMIC DATA
Wednesday: April retail sales figures from the Census Bureau.
Friday: The University of Michigan’s preliminary May consumer sentiment index, a measure of consumer confidence.
Source: Econoday / MarketWatch Calendar, May 10, 2019
The Econoday and MarketWatch economic calendars list upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
THE WEEK AHEAD: COMPANIES REPORTING EARNINGS
Monday: Take-Two Interactive (TTWO)
Tuesday: Agilent (A), Ralph Lauren (RL)
Wednesday: Alibaba (BABA), Cisco (CSCO), Macy’s (M)
Thursday: Applied Materials (AMAT), Nvidia (NVDA), Walmart (WMT)
Friday: Deere & Co. (DE)
Source: Morningstar.com, May 10, 2019
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Any investment should be consistent with your objectives, time frame and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
|“You don’t become what you want, you become what you believe.“|
Garlicky Dill Pickles
Yields: 10 to 12 Pickles
Recipe adapted from Serious Eats
Tax Facts About Renting Out Residential Property
For individuals who rent out their residential property for income, there are different tax rules that apply based on whether they used the property as a residence at any time over the course of the year.
Residential rental property may include a single house, condominium, apartment, mobile home, vacation home, or similar property. These properties are often referred to as dwellings. Taxpayers renting the property can use more than one dwelling as a residence during the year. Using a dwelling for personal purposes for more than the greater of 14 days or 10 percent of the total days rented to others at a fair rental value is considered a residence. Personal use includes:
- Any person who owns an interest in the property or a family member of such person
- Anyone who has an arrangement that lets the owner use some other dwelling
- Anyone using the property at less than fair rental value
Personal use does not include days for repair and maintenance if the work is being done on a largely full-time basis.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov
The Dreaded Dogleg
A dogleg is a hole that bends at some point along its length, like the hind leg of a dog. A common mental block among golfers is how best to play a dogleg hole with real trouble on either side of the fairway.
Since the ball tails off to the right for most of golfers, it doesn’t make much sense for one to stand on the tee box of a dogleg-left hole and try to curve their drive in that direction. Instead, try thinking of how to play the hole to the best of your ability.
Tip adapted from Golf Digest[i]
Gratitude is the Attitude
It’s hard to be anything else when you are in an attitude of gratitude. A grateful mindset is an instant way to get positive and feel better. But just how do you do that? Here are some great tips to start now:
- Make a commitment to gratitude. This is a daily practice; one you can do at the end of each day. Compile a gratitude list of all the positive things to be grateful for.
- Pay attention to your thoughts. Have a mindset of gratitude. Notice if your mind wants to be negative or judgmental. That’s okay. Gently guide it back to grateful.
- Help others. There are always others who are less fortunate. Giving, whether it is your time, service, or a financial donation, feels good and shares your abundance. Living in abundance is a flow, an ability to give and receive.
Tip adapted from Lifehack
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Ways to Save Energy at Home
There are a lot of ways to save energy at home, including a few you might not have thought of. Here are a few energy saving tips that are different and doable:
Energy-efficient landscaping: Plan where you place shade trees around the house, and you could save between $100 and $250, annually.
Duct check: To avoid wasting energy, have your ducts inspected to ensure they’re sealed properly and insulated if necessary.
In hot water: Turn down the temperature of your water heater to the warm setting (120°F) and save energy.
Cook small: Use your microwave, toaster oven, or grill appliance rather than the oven. You’ll use less energy and avoid excess heat that increases room temperature.
Use a power strip: Leaving a computer on all day can cost about 21 cents per day or about $75 per year. Plug your computer, printer, and other home office items into a multiple-outlet strip, which can turn everything off with the flip of a switch.
Tip adapted from Energy.gov
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