Money Talks – August 26, 2017

This week on “Money Talks,” Bil Lako, CFP®, and Troy Harmon, CFA, CVA, are joined by Senior Associate Jarrett McKenzie, CFP®, CWS®, to discuss the week’s market performance, Consumer Sentiment for August, and housing news. They also delve into the inaction we’ve seen from Washington, D.C. and how an investor should react. Jarrett brings to the table a discussion on Private College 529 Plan as an alternative to state-sponsored education savings plans. He discusses the features and provides advice for those interested in sending their child to a private college. The experts round out the show addressing listeners’ questions on Facebook, establishing an IRA or Roth IRA as a young professional and combining multiple 401(k) accounts from previous employers.

Market Roundup: Stocks Notch First Weekly

The U.S. indices closed mixed on Monday, as both the Dow Jones Industrial Average and S&P 500 Index added slight gains, while the NASDAQ shed some points. Financial and technology brands led decliners. Those moves reversed the next day as Technology companies led a broad upswing in stocks, likely because investors scooped up shares following the recent declines. The market fell Wednesday as political turbulence and disappointing earnings weighed on stocks in a quiet trading session. Crude oil prices ticked up amid a smaller-than-expected decrease in inventories. Energy Information Administration figures showed reserves fell by 3.3 million barrels in the past week versus expectations of a decline of 3.5 million barrels. The decline continued Thursday as stocks dipped on a variety of economic news. Existing home sales decreased in July. National Association of Realtors data showed home resales slipped by 1.3% last month to an annual rate of 5.44 million, versus expectations of a 0.9% increase. Looking elsewhere, initial jobless claims ticked up last week, as the Department of Labor showed new claims increased by 2,000 to 234,000. Indices ended trading with mixed moves on Friday with the Dow and S&P 500 posting gains while the NASDAQ was down. In economic news, orders for durable goods dipped in July. Orders for products designed to last three years or more decreased 6.8% last month, following a 6.4% increase in June.