Money Talks – June 3, 2017

This week on “Money Talks,” anchor host Troy Harmon, CFA, CVA, is joined by Managing Associate Shawna Theriault, CFP®, C.P.A., and Senior Associate Jarrett McKenzie, CFP®, CWS®, to discuss the continuing market rally, despite political turbulence. They discuss revisions to GDP, consumer sentiment, and interest rates. Shawna and Jarrett discuss the financial concerns of a couple who are anxious about dollar cost averaging into the market while the market is at all-time highs. The “Money Talks” experts round out the show by answering listeners’ questions on Dow Chemical, whether or not a scholarship is taxable and how long it might take to double your money in the stock market.

Market Roundup: Markets End Holiday-Shortened Week with New Record Highs

While domestic markets were closed Monday in observance of Memorial Day, international markets were still shrugging off concerns about the United States pulling out of the Paris climate agreement the previous week. On Tuesday, U.S. stocks started the week edging lower on declines in banks and oil firms. The slip continued mid-week despite the Federal Reserve’s Beige Book showing the U.S. economy has continued to grow at a “modest or moderate” pace. All was reversed on Thursday when the Dow Jones Industrial Average, the S&P 500 and NASDAQ all hit new record highs with Financial, Technology and Healthcare stocks leading the way. In economic news, the ISM Manufacturing index fell just shy of expectations, registering a reading of 54.9. On Friday the three major indices hit new record highs for a second straight session. Meanwhile, the Department of Labor showed 138,000 jobs added last month, well shy of analysts’ expectations of 185,000. The unemployment rate dipped to 4.3% from 4.4%.