Money Talks – August 12, 2017

This week on “Money Talks”  Research Analyst Nick Antonucci, CVA, Managing Associate K.C. Smith, CFP®, and Senior Associate Jarrett McKenzie, CFP®, CWS®, are at the helm to talk about the week’s volatile movements, Productivity and Costs, Wholesale Trade and Factory Orders. The hosts also cover a financial planning situation about grandparents who want to help fund college education savings. They cover the benefits for both 529 Plans and Roth IRAs. The experts round out the show answering listeners’ questions on drug maker Pfizer, having a financial adviser manage a 401(k) Rollover, co-signing on loans, and Capital One Financial.

Market Roundup: Tensions with North Korea Results in Market Volatility

The week started off with gains as the Dow Jones Industrial Average achieved its ninth record closing high in a row and the S&P 500 index ticked up to record level highs. Sentiment was reversed Tuesday as the indices concluded trading in the red zone after trading in a narrow range throughout the day. The Dow was down 61 points in intraday trading after President Trump said the United States would respond to any additional threats from North Korea “with fire and fury like the world has never seen.” The volatility continued mid-week as tensions between the United States and North Korea rattled markets around the world. In the United States, indices ended Wednesday with relatively mild losses. In economic news, the Energy Information Administration data showed U.S. stockpiles of oil slipped by 6.5 million barrels in the past week, versus an estimated decrease of 2.7 million barrels. For the session, West Texas Intermediate crude tacked on 0.8% to settle at $49.56 a barrel. Stocks traded lower again on Thursday amid persistent tensions between the United States and North Korea and a variety of economic news. Producer prices declined in July, as the Bureau of Labor Statistics data showed prices slipped 0.1%, versus an expected increase of 0.1%. In other reports, initial jobless claims ticked up last week. New claims increased by 3,000 to 244,000, while claims for the previous week were upwardly revised by 1,000. The week ended with indices closing with slight gains on Friday as stocks rebounded slightly from downswings earlier in the week. The Consumer Price Index rose 0.1% in July, versus forecasts for a 0.2% uptick. Discounting food and energy, the core CPI edged up 0.1%. 

Money Talks – August 5, 2017

This week on “Money Talks,” Troy Harmon, CFA, CVA, is joined by Principal Jennifer J. Thomas, CFP®, and Managing Associate, Shawna L. Theriault, CFP®, C.P.A., to discuss the week’s economic activity, including international trade, employment, personal income and the ISM Manufacturing and Nonmanufacturing indices.  The ladies bring to the table a discussion about the issues women face in retirement given that they are likely to live longer and may earn less over the course of their careers. The experts also address a host of listener questions about establishing and funding an IRA for a child, the differences in financial milestones for Millennials and an investment in IMAX.

Market Roundup: Dow Hits 22,000 During Mixed Week

Last week ended with a mixed bag of stock market performances. On Monday, the Dow Jones Industrial Average, the S&P 500 Index and the NASDAQ composite closed July as their best month since February. History was made again on Tuesday when the Dow burst through the 22,000 mark. This represents the fifth consecutive record close for the index. In economic news, pre-tax personal income and after-tax personal income were unchanged in June from May. In the first of two reports from the Institute for Supply Management, the Manufacturing index fell 1.5 points to 56.3 in July, in line with expectations. On Thursday, the ISM announced the Non-Manufacturing index slipped 3.5 points in July to 53.9. This represents continued growth in the non-manufacturing sector, but at a slower rate than in June. Indices traded in green territory on Friday as the Dow closed at a new record level for the eighth straight session. The S&P 500 also ended last week in positive territory. Stocks stepped up on better-than-expected employment numbers for July. Department of Labor data showed an addition of 209,000 jobs, versus consensus expectations of 180,000.

Money Talks – July 29, 2017

This week on “Money Talks,” Tax Manager Dan DiLuzio, C.P.A., joins Research Analysts Nick Antonucci, CVA, and Jacob Keen to discuss the current earnings season, housing news, including both new and existing home sales and home prices, consumer confidence and the Federal Open Market Committee’s meeting on monetary policy. Dan brings to the table some advice for a small business who is well ahead of its mid-year projections. He suggests some purchases and growth techniques that may be able to save the business tax dollars. The hosts round out the show answering listeners’ questions on counter-party risk in exchange-traded funds, how a side hustle may affect your income taxes, opinions on sales tax holidays and whether or not the Technology sector is in a bubble. They also address questions on stocks including Universal Corp., Service Corp. International, PVH and Ralph Lauren.