This week on “Money Talks,” Bil Lako, CFP®, is joined by Research Analyst Nick Antonucci, CVA, and Managing Associate Shawna Theriault, CFP®, C.P.A., to discuss last Friday’s employment situation and international trade. They also discuss this week’s economic releases including productivity and costs, the ISM Services Index and interest rates. Shawna and Bil discuss a common investor misconception that a Will will distribute their assets as they intend, but don’t consider their beneficiary designations or how assets are titled. The show’s experts also address listeners’ questions on holding foreign investments in your IRA, financial services company Lincoln National Corp., beauty company Coty Inc., and cashing in a savings bond for your child.
Managing Associate Shawna Theriault, CFP®, C.P.A. leads a discussion with Principal Bil Lako, CFP®, and Research Analyst Nick Antonucci, CVA, on a common investor misconception that a Will will distribute their assets as they intend. However, many make the mistake of not considering their beneficiary designations or how assets are titled.
Indices kicked off the week by closing in the red zone on Monday, with stocks trading slightly lower on a variety of economic news. Revisions to Productivity and Costs were in line with expectations, unchanged from the first quarter. The ISM nonmanufacturing index showed services industry growth decreased in May, dipping from 57.5 in April to 56.9. Tuesday, investors signaled a note of caution when gold prices and government bonds gained. Even a rally in the Energy sector stocks wasn’t enough to offset the losses in the major U.S. stock indices. The trend reversed Wednesday with the indices landing in the green zone ahead of former FBI Director James Comey’s testimony before the Senate Select Committee on Intelligence. Meanwhile, Energy stocks traded lower on a dip in crude oil prices and increased inventory levels. The Energy Information Administration said reserves jumped by 3.3 million barrels, versus expectations for a decrease of 3.5 million barrels. The NASDAQ hit a fresh record high on Thursday, despite turbulent trading prior to former director Comey’s public testimony to the Senate. On another note, Department of Labor data showed jobless claims fell by 10,000 to 245,000. The indices closed the week with mixed results as the Dow Jones Industrial Average hit a new record high while the NASDAQ traded into red territory.
The “Money Talks” show experts address listeners’ questions on holding foreign investments in your IRA, financial services company Lincoln National Corp., beauty company Coty Inc., cashing in a savings bond for your child, and a lightening round on three high-priced stocks: White Mountains Insurance Group, Ltd., Alleghany Corp. and Intuitive Surgical Inc.