Managing Associate K.C. Smith, CFP®, Senior Associate Jarrett McKenzie, CFP®, CWS®, and Director of Research Troy Harmon, CFA, CVA, discuss the use of trusts to control your wealth from beyond the grave. They cover the possibilities as well as the drawbacks to doing so.
Investors turned to more defensive stocks like utility companies and other dividend-paying shares, which led the S&P 500 Index to slight gains on Monday. Technology shares led Tuesday’s downswing as the Dow Jones Industrial Average and the S&P 500 saw their biggest daily declines in more than a month. In economic news, the Conference Board showed consumer sentiment increased in June despite an expected dip from analysts. By mid-week, Financial and Technology shares rebounded to lead the rally as the NASDAQ Composite posted its biggest jump since November. Thursday saw Technology stumble again, dragging down the major indices. Indices closed Friday’s session with mixed moves, as the Dow and S&P 500 tacked on some points while the NASDAQ ended trading fractionally in the red zone. In economic news, personal income growth ticked up in May. Consumer income increased 0.4% last month from a downwardly revised 0.3% gain in April. The result exceeded the forecast for a 0.1% uptick. Elsewhere, a final reading of The University of Michigan Consumer Sentiment Survey for June showed a two-point dip to 95.1, slightly better than the preliminary reading from earlier this month.
The “Money Talks” hosts round out the show by answering listeners’ questions on Amazon’s purchase of Whole Foods; Omega Healthcare Investors and evaluating REITs; Blue Apron’s IPO, and IRA Rollovers.
This week on “Money Talks” insurance expert Jim Crone, CFS®, CLU®, joins anchor hosts Bil Lako, CFP®, and Troy Harmon, CFA, CVA, to discuss Uber’s CEO stepping down, oil prices, and investors’ desire to get into the market when it is at such a high level. Jim brings to the table a look at a couple’s decision on long-term care coverage. He explores how their financial plan can show whether they can afford to self-insure and other options aside from traditional long-term care policies. The experts wrap up the show with listeners’ questions on socially responsible investing, disability insurance riders, and Genworth’s potential sale to China Oceanwide.
Insurance Expert Jim Crone, CLU®, CFS®, takes a look at a couple’s decision on buying long-term care coverage. He explores how their financial plan can show whether they can afford to self-insure and other options aside from traditional long-term care policies.
On Monday, indices closed out trading in the green zone as the Dow Jones Industrial Average and the S&P 500 Index hit new all-time highs with a rebound in the technology sector. The start of the week also saw crude oil prices decreasing, with West Texas Intermediate crude settling at $44.20 a barrel. The market traded into the red zone on Tuesday with Energy brands slipping with another drop in crude oil prices. Stocks traded with mixed moves on Wednesday. Both the Dow and S&P 500 shed points, likely fueled by another drop in oil prices, despite the release of data from the Energy Information Administration, which showed reserves decreased by 2.5 million barrels over the past week, versus an anticipated decline of 2.1 million barrels. The NASDAQ added gains on biotech buying. In other economic news, existing home sales for May increased by 1.1% to an annual rate of 5.62 million. Analysts expected a pace of 5.55 million. Indices closed trading with mixed moves on Thursday as both the Dow and S&P 500 shed points while the NASDAQ tacked on slight gains. The session ended flat on a variety of economic news. Department of Labor data showed first time jobless claims climbed by 3,000 to 241,000 for the week ended June 17.
The “Money Talks” experts address listeners’ questions on socially responsible investing and ESG portfolios, disability insurance riders, and major long-term care policy provider Genworth’s potential sale to China Oceanwide.
This week on “Money Talks,” the Henssler Research Analysts, Troy Harmon, CFA, CVA, Nick Antonucci, CVA, and Jacob Keen lead the show in a discussion on the week’s market movements, interest rates, Wholesale Trade, the Producer Price and Consumer Price indices, and the latest on monetary policy from the Federal Reserve. The analysts also have an in-depth conversation on a client’s concern on whether or not the market is in a bubble.
The week kicked off with stocks taking a downturn, pulled down by Technology shares, raising some concern that the major indices have been influenced by a few large tech firms. Indices closed in green territory on Tuesday, as the Dow Jones Industrial Average and the S&P 500 index climbed to new all-time highs. The rally was boosted by a variety of economic details. The Producer Price Index was unchanged in May following a 0.5% uptick in April. The core measure, which excludes food and energy, decreased by 0.1%. Markets had mixed moves on Wednesday. The Federal Open Market Committee likely affected market action. Despite declining inflation that continues to run below the Fed’s 2.0% target rate, policymakers boosted the target range for the fed funds rate by 25 basis points, to 1% to 1.25%, basing its decision on the expectation that the labor market will continue to strengthen. Also for the month, the Consumer Price Index shed 0.1% versus consensus expectation for no change. A 2.7% decrease in the energy index contributed to the monthly decrease in the CPI. Discounting food and energy, the core CPI edged up 0.1%. In another report, Retail Sales slipped 0.3% in May, following a 0.4% uptick in April. Core sales, excluding autos and gas, held steady following an upwardly revised gain of 0.5% in April. Indices closed trading in the red zone on Thursday, with Technology brands again leading the selloff. On another note, first-time jobless claims decreased in the past week. Department of Labor data showed new claims declined by 8,000 to 237,000. Indices closed the session with mixed moves on Friday. The Dow and S&P 500 tacked on gains while the NASDAQ landed in the red zone. Housing starts decreased in May, as new construction dipped by 5.5% to an annual rate of 1.09 million. Starts were expected to hit 1.22 million. Additionally, consumer sentiment is on the wane in a preliminary reading for June. The University of Michigan’s index of consumer sentiment fell to 94.5, from 97.1 in May. Economists were expecting a flat reading.