Money Talks – September 10, 2016

This week on “Money Talks,” Senior Associate Jarrett McKenzie, CFP®, CWS®, joins Research Analysts Nick Antonucci, Jacob Keen and Troy Harmon, CFA, CVA to discuss August’s Employment Situation and July’s Factory Orders and International Trade data. They also cover inflation indicator, the ISM Non-Manufacturing Index. Jarrett takes a deeper look at an investor’s situation of wanting to avoid taking his required minimum distributions once he turns age 70 ½. The hosts also talk in-depth about tax loss selling and what does and does not qualify as a substantially similar holding that might trigger the wash sale rule. The experts also answer listeners’ questions on selling in May and going away, and Atlanta-based company Home Depot. 

Market Roundup: Markets Fall More Than 2% Over Holiday-Shortened Week

After the Labor Day holiday, the major indices closed in the green zone on Tuesday, with the NASDAQ hitting a new record high thanks to good performance in many Technology brands. West Texas Intermediate tacked on 1.02% to settle at $45.50 a barrel. The ISM Non-Manufacturing Index showed services fell to 51.4 last month, versus an expected reading of 55, down from 55.5 in July. The markets ended trading mixed on Wednesday, as the Dow Jones Industrial Average and S&P 500 shed some points while the NASDAQ closed at a new record level again. The Federal Reserve’s Beige Book, which covered economic activity from July through mid-August, showed a modest to moderate pace across most districts. Additionally, an anecdotal read on the 12 districts showed labor markets continued to tighten, and that energy markets had seen signs of stabilization. West Texas Intermediate crude added 1.34% to settle at $46.07. Stocks traded lower on Thursday as a result of a variety of economic news. Crude oil prices ramped up following an unexpected dip in domestic reserves. U.S. inventories decreased by 14.5 million barrels over the last week versus an expected increase of 200,000 barrels. West Texas Intermediate crude oil added 4.22% to settle at $47.42 a barrel on the news. Labor Department data showed new claims fell by 4,000 to 259,000 for the last week. The red results continued into Friday amid rising interest rate concerns. Meanwhile, West Texas Intermediate crude shed 3.7% to settle at $46.46 a barrel.

Market Roundup: Week of Mixed Moves Ends Down

Indices closed trading with mixed moves on Monday as the Dow Jones Industrial Average and S&P 500 ended fractionally in the red while the NASDAQ posted slight gains. Energy brands led the S&P lower while West Texas Intermediate crude oil slipped 3.52% to settle at $46.81 a barrel. Stocks gained on a lift in crude oil and other news to close in green territory on Tuesday. West Texas Intermediate crude settled at $48.01 a barrel, while the Commerce Department data showed 654,000 new homes sold in July versus forecasts of 581,000. The stock retreat returned on Wednesday. Energy Information Administration data showed a gain of 2.5 million barrels in reserves over the past week, versus expectations of a lesser uptick of 200,000 barrels, resulting in oil trading lower. The dip continued through Thursday as investors’ attention was on the Federal Reserve’s annual Jackson Hole meeting. Friday’s session ended mixed. Both the Dow and S&P shaved some points while the NASDAQ closed in green territory. Moves were mixed in the wake of Federal Reserve comments. In a speech at the Economic Policy Symposium in Jackson Hole, Wyoming, Fed Chair Janet Yellen said, “The U.S. economy has strengthened to the point where another rate hike will soon be warranted.” According to the second estimate from the Bureau of Economic Analysis, real Gross Domestic Product ticked up 1.1% in the second quarter, just shy of the 1.2% advance estimate. On another note, consumer confidence slipped slightly in August. The University of Michigan Consumer Sentiment Survey shed 0.2 point to 89.8 from 90 in July. Results fell short of an expected reading of 91.

Money Talks – August 20, 2016

This week on “Money Talks,” Senior Managing Associate Jennifer Thomas, CFP®, joins Bil Lako, CFP®, and Troy Harmon, CFA, CVA to discuss inflation indicators the Producer Price and Consumer Price indices, consumer sentiment for August, industrial production and the latest minutes from the Federal Open Market Committee. The hosts dig deeper into the financial situation of a listener’s who is interested in taking a lump sum from his 401(k) to pay off his son’s student loans.. The hosts discuss the drawbacks to doing so and other ways he may help his son pay his school loans. The experts round out the show answering listener questions on a variety of topics, including dividend stock exchange-traded funds, discount retailers PriceSmart and Big Lots, continuing to save to a 401(k) if you plan to retire early, Aetna cutting Obamacare participation and taking Social Security.