Principal Jennifer Thomas, CFP® and Managing Associate K.C. Smith, CFP® discuss a case study about tax loss selling, and how selling some positions in your portfolio can help your tax situation.
Stocks stepped up on Monday despite West Texas Intermediate crude falling 0.7% to settle at $50.52 a barrel. Indices ended trading in the red zone on Tuesday on news that consumer sentiment dipped in October. The Conference Board Consumer Confidence Index declined 4.9 points to 98.6, a three-month low. Trading closed with mixed moves on Wednesday. The Dow ended in the green while the S&P 500 and NASDAQ shed some points. Moves were mixed on a variety of earnings releases. Meanwhile, crude oil fell to a three-week low level, with West Texas Intermediate crude slipping by 1.66%, settling at $49.13 a barrel. The Energy Information Administration data showed a decrease of 600,000 domestic barrels last week versus expectations of a 400,000 increase. Looking elsewhere, new home sales ticked up in September, as Commerce Department figures showed sales climbed 3.1% last month to an annual rate of 593,000. On Thursday, stocks swung between gains and losses throughout the day. The markets also saw a selloff in government bonds, which kept investors on edge. In economic news, new orders for durable goods fell in September led by a sizable drop in defense orders. Indices closed again in red territory on Friday with stocks retreating from early session highs on a variety of economic news. Crude oil traded lower on mixed quarterly details from large oil companies. Commerce Department data showed the U.S. economy grew at an annualized rate of 2.9% in the third quarter, which marked the fastest gross domestic product growth in two years. Elsewhere, a second measure of consumer confidence dipped in October. In a final reading, the University of Michigan’s Consumer Sentiment report hit 87.2, down from 91.2 in September.
Our experts answer listeners’ questions on one person’s “10-year stock picks,” Cisco Systems, Bristol-Myers Squibb, and W.W. Grainger. They also discuss the Industrials sector and holding 3M. Jennifer and K.C. discuss what an investor should do with a non-deductible traditional IRA and what the options are with a UGMA account.
This week on “Money Talks,” Managing Associate K.C. Smith, CFP®, joins Bil Lako, CFP®, and Troy Harmon, CFA, CVA, to discuss last Friday’s releases, including the retail sales report, Producer Price Index and the University of Michigan Consumer Sentiment Survey. They also cover this week’s releases, including Industrial production, the Consumer Price Index, housing starts and the Fed’s Beige Book. K.C. and Bil discuss what seniors need to know about Medicare’s Open Enrollment season, which runs from October 15 through December 7. They cover the important deadlines and the options seniors should consider when choosing their plans. The hosts also answer listeners’ questions on student loan processors Navient Corp. and Nelnet; IRS lifetime expectancy factor tables for required minimum distribution calculations, and why an investment adviser may recommend as many as 12 different mutual funds for diversification in an IRA and what an investor should do with that recommendation.
Managing Associate K.C. Smith, CFP®, and Bil Lako, CFP®, discuss what seniors need to know about Medicare’s Open Enrollment season, which runs from October 15 through December 7. They cover the important deadlines and the options seniors should consider when choosing their plans.
The markets overcame a weak start to end just slightly up. The week began with a whimper as indices closed in red territory on Monday. Stocks slipped alongside a downtick in oil, which fell by 0.81% to settle at $49.94 a barrel. Industrial production increased in September, increasing 0.1%, versus an expected 0.2% gain. Stocks ended with gains on Tuesday, stepping up in the wake of better-than-expected earnings details from several sectors. West Texas Intermediate crude added 0.7% to settle at $50.29 a barrel. Data from the Bureau of Labor Statistics showed the Consumer Price Index increased 0.3% in September, matching consensus expectations. The core CPI, which excludes food and energy, edged up 0.1%. Indices closed in the green zone on Wednesday as West Texas Intermediate crude tacked on 2.02%. Weekly domestic reserves data from the Energy Information Administration showed a decline of 5.2 million barrels. Housing start activity was mixed in September, with single-family starts up 8.1% to a 783,000 unit rate while multi-family starts retreated by 38% to a 264,000 unit pace last month. However, overall groundbreaking decreased 9.0% to an annual rate of 1.05 million, marking the lowest level since March 2015. The market slipped on Thursday as stocks retreated on mixed earnings details and a fall in crude oil. In the week ended October 15, the advance figure for seasonally adjusted initial unemployment insurance claims was 260,000, an increase of 13,000 from the previous week’s revised level. Friday’s markets were nearly flat.
Our experts answer listeners’ questions on student loan processors Navient Corp. and Nelnet; IRS lifetime expectancy factor tables for required minimum distribution calculations, and why an investment adviser may recommend as many as 12 different mutual funds for diversification in an IRA and what an investor should consider with that recommendation.
This week on “Money Talks,” insurance expert Jim Crone, CLU®, CFS®, joins hosts Bil Lako, CFP®, and Troy Harmon, CFA, CVA, to discuss the market moves, September’s employment situation and wholesale trade. For the case study, Jim explores a situation where life insurance was able to create equity in a family’s estate plan. The team of experts round out the show answering listeners’ questions on disability insurance premiums, reviewing long-term care policies and semiconductor maker Advanced Micro Devices, Inc.
Jim Crone, CLU®, CFS®, joins “Money Talks” to discuss the importance of reviewing life insurance policies, and explores a situation where repositioning an existing life insurance policy was able to create equity in a family’s estate plan.
The markets opened the week with gains as both oil prices and Energy sector shares rose. Stocks traded lower on Tuesday with brands dipping on less-than-optimum quarterly details from Alcoa, who unofficially kicked off earnings season, as well as a downswing in oil. West Texas Intermediate crude oil settled at $50.84 a barrel. Indices closed out Wednesday with mixed results. The Dow and S&P 500 closed in the green while the NASDAQ ended in the red zone for the session. Moves were mixed amid the release of minutes from the September Federal Open Market Committee meeting as well as a dip in crude oil. The bulk of FOMC members voted to keep rates unchanged while three dissented. OPEC boosted output to 33.39 million barrels per day in September, up 220,000 barrels. West Texas Intermediate crude oil settled at $50.18 a barrel. Stocks rebounded up from early session levels to land just slightly lower on Thursday. Meanwhile, crude oil prices climbed despite a jump in reserves. Energy Information Administration data showed inventories rose by 4.9 million barrels in the past week. Department of Labor figures showed initial jobless claims held steady at 246,000 last week, versus expectations of 254,000 new claims. Indices ended the week in positive territory, as a rally among financial shares faded in the wake of stronger-than-expected quarterly results from the likes of Citigroup and Wells Fargo. In a preliminary measure, the University of Michigan’s Consumer Sentiment Index slipped to 87.9 from 91.2 in September. Elsewhere, U.S. retail sales rose by 0.6% versus an expected increase of 0.7%. Excluding cars and energy, sales rose 0.3%, as anticipated.