Weekly Update: October 28, 2019 – S&P 500 Nearly Makes History
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Featured Article: S&P 500 Nearly Makes History
Quote of the Week
Recipe of the Week: Snickerdoodle Spider Cookies
We want wish our client, Lula a very happy 75th birthday. Some people don’t just motivate, they inspire. You’re an inspiration to so many, Lula! We hope you enjoyed your party. Thank you for including us in your celebration!
The Week on Wall Street
The S&P 500 came within 0.1% of a record close Friday. Stocks were lifted last week by positive news on U.S.-China trade negotiations, plus earnings announcements.
The Nasdaq Composite posted the largest weekly gain of the three major U.S. stock indices. It rose 1.90%. Last week also brought gains of 0.70% for the Dow Jones Industrial Average and 1.22% for the S&P. The MSCI EAFE, a benchmark for developed stock markets outside the U.S., rose 1.14%.,,
Another Hint of Progress in Trade Talks
Friday, the Office of the U.S. Trade Representative stated that parts of a new trade deal with China were near completion. No specifics were given as of Friday’s close, but the USTR noted that negotiators had “made headway” on key issues.
Analysts think both sides may cancel certain tariffs as part of a deal. President Trump has said that he would like to sign a new trade accord with China’s President, Xi Jinping, next month.
A Gain for Consumer Sentiment
Rising to a final October mark of 95.5, the University of Michigan’s Consumer Sentiment Index advanced 2.3 points month-over-month. During August and September, the index’s level varied from 89.8 to 93.2.
The Federal Reserve meets this week. Will it make another interest rate cut? And if it does, could that be the last rate cut for a while? Traders will study the language of the statement and listen carefully to Fed chair Jerome Powell’s Wednesday press conference for clues.
THE WEEK AHEAD: KEY ECONOMIC DATA
Tuesday: The Conference Board presents its October Consumer Confidence Index.
Wednesday: The Federal Reserve makes its latest statement on monetary policy, and Automatic Data Processing (ADP) publishes its October private-sector payrolls report.
Thursday: The Department of Commerce offers September consumer spending data.
Friday: November begins with the Department of Labor’s October jobs report and the Institute for Supply Management’s newest Purchasing Managers Index for the factory sector, a gauge of U.S. manufacturing activity.
Source: Econoday, October 25, 2019
The Econoday economic calendar lists 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: AT&T (T), Alphabet (GOOG), HSBC (HSBC)
Tuesday: Amgen (AMGN), BP (BP), Mastercard (MA), Merck (MRK), Pfizer (PFE)
Wednesday: Apple (AAPL), Facebook (FB), GlaxoSmithKline (GSK), Starbucks (SBUX)
Thursday: Altria (MO), Bristol-Myers Squibb (BMY), Sanofi (SNY)
Friday: AbbVie (ABBV), Alibaba (BABA), Berkshire Hathaway (BRK.B), Chevron (CVX), ExxonMobil (XOM)
Source: Zacks, October 25, 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.
” I would like, if I may, to take you on a strange journey.“
―- The Criminologist, The Rocky Horror Picture Show
Snickerdoodle Spider Cookies
Get into the Halloween spirit with these cookies, which are equally spooky, cute, and delicious. Plus, they’re super simple to make and will wow any crowd.
For the Cookies:
For the Decorations:
Recipe adapted from All Recipes
Don’t Let eFiling Your Tax Return Spook You
There are many good reasons to file your tax return online, including the fact that it’s:
- Accurate and complete – Filing your tax return digitally is the most-accurate, complete way to file. This means that it’s processed faster, and you get your tax return in your pocket sooner.
- Safe and secure – Software companies and accountants that have the ability to eFile tax returns have met strict security guidelines set forth by the IRS. When you eFile, you can receive notifications from the IRS ensuring that everything was filed correctly.
- Faster refunds – Compared to paper returns, eFiled tax returns are usually processed faster. In addition, you can choose direct deposit and have your refund deposited directly into your bank account.
- It’s easy and free – You can eFile on your own through IRS Free File, the IRS free tax preparation and eFiling service. You can also eFile your taxes using online platforms, many of which offer a free level of service as well as a premium one if you have more-complex filing needs.
* 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
Remember, a Swing Is a Circle
Many amateurs don’t complete their backswings. They take the club back, but they don’t pivot as they do so. The usual consequence is a rushed downswing, resulting in a pushed or sliced shot, or a shot shorter than they imagined they would hit.
Here’s a thought for a good, full backswing. Let your arms and shoulders begin the takeaway, and let your pelvis naturally rotate away from the target as this happens. This encourages not only a full backswing, but also a nice, circular swing around a single axis, plus a good follow-through.
Tip adapted from Golf Digest Schools
Protect Your Teeth With a Candy Buyback Program
With Halloween comes lots of sweet treats and whether you’re dipping into your child’s candy from trick-or-treating or are keeping a stash for yourself, we want to offer this tip to help protect your teeth (and your health).
If you’d prefer not to eat candy for the next few months, many local businesses offer “candy buyback” programs where you can donate candy to nonprofit organizations or sell it back for cash. Many dentist offices coordinate with veteran and military programs and send the candy overseas in care packages. Some businesses even donate on your behalf when you trade in your candy. Either way, these buyback programs are a fun way to give back (and save yourself some calories). Save a few chocolate bars for yourself, and do some good with the rest. Simply search your local area for a buyback program near you.
Tip adapted from Halloween Candy Buy Back
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Go Green This Halloween
Save the spooks for the ghosts and ghouls because going green doesn’t have to be scary. This Halloween, think of these tips as you prepare for the holiday:
- Make your own Halloween costume out of things you already have, instead of buying a new one. The fashion industry is one of the main contributors of pollution and waste, and buying a costume you’re only going to wear once makes the problem even worse. If you do need some new pieces for your costume, check out a thrift or consignment store for some recycled fashion.
- Make decorations out of household items, like cardboard boxes, Styrofoam, packing peanuts, paper, and more. Or reuse your decorations from last year instead of buying all new ones.
- If you’re throwing a Halloween party, use cutlery and plates instead of disposable, plastic ones.
- Buy your pumpkins from a local pumpkin patch instead of the grocery store, or try your hand at growing your own!
- Speaking of pumpkins, use up everything you can from the hearty veggie. You can carve your pumpkin into a jack-o-lantern, roast the pumpkin seeds, and use the flesh for pumpkin pie.
Tip adapted from World Wildlife Fund
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