The week began with a rally as the markets rebounded from last week’s downswing, led by a rise in Technology stocks. Google was up in post-session trading after announcing an operations restructuring and a company name change to Alphabet. Stocks dipped Tuesday, likely a result of sinking crude oil prices and news of an unexpected devaluation of Chinese currency. The People’s Bank of China lowered the yuan by 1.9%, marking its largest decline in more than 20 years. Markets were mixed mid-week with energy stocks stepping up while consumer brands remained flat. Thursday brought news that retail sales increased in July, while the Labor Department stated jobless claims increased more than expectations. The markets closed the week on a positive note with news producer prices increased in July while The University of Michigan’s consumer sentiment index, hit 92.9 in a preliminary reading, down from 93.1 in July, missing expectations of 93.5.
Our experts address listeners’ questions on whether or not to sell Apple, investing in Greek banks, and how the population growth correlates to the growth in the S&P 500 Index. They also discuss deducting business losses and how adding an in-law apartment may affect your homeowner’s insurance.
This week on “Money Talks,” Matt Hames, CTFA, and Troy Harmon, CFA, CVA, are joined by firm principal Jennifer Thomas, CFP®, and Senior Associate D.J. Barker, CWS®, to discuss the week’s economic news, including the ISM Manufacturing and Service indices, International Trade, Factory Orders and Personal Income. The show hosts explore a unique case study about a two-year-old child who inherits a $550,000 home. While this isn’t common, the hosts highlight how important it is to carefully consider your beneficiaries, especially if they are underage. The experts also answer listener questions on Zillow’s stock dividend payout, Nielson N.V., Sprouts Farmers Market, prenuptial agreements and Humana Inc.
Our experts discuss a case study where the use of a trust would have solved the problem of a child inheriting property and assets.
Monday saw several blue-chip stocks, including IBM, Chevron and Apple, trading lower. West Texas Intermediate crude fell 4.1% to settle at $45.17 a barrel. Personal income growth rose 0.4% in June, while consumer spending ticked up by 0.2%, missing expectations of 0.3%. Indices continued downward on Tuesday, despite news that orders for manufactured goods gained 1.8% in June, in line with the consensus forecast. On Wednesday, the S&P 500 index rebounded after three consecutive days of decline. The ISM Nonmanufacturing Index posted its second consecutive gain and the largest since 2008. The July survey bucks other economic data that suggest the economy was off to a slow start in the quarter. Stocks dipped amid a retreat in crude oil on Thursday. On another note, Labor Department data showed initial jobless claims increased by 3,000 to 270,000 last week. On Friday, the Labor Department released July’s data, showing the economy added 215,000 jobs last month, versus expectations of 225,000 additions. The unemployment rate held steady at 5.35%.
The “Money Talks” experts discuss Zillow’s announcement of a stock dividend payout and what it means for current stock holders, and provide opinions on information measurement company Nielson, N.V.
Our experts discuss natural and organic food retailer Sprouts Farmers Markets, how a prenuptial agreement can protect personal assets when entering into a marriage and provide investment opinion on health and well-being company Humana, Inc.
This week on “Money Talks” Charlie Holloway, CFP®, CDFA™, and D.J. Barker, CWS®, join Matt Hames, CTFA, and Troy Harmon, CFA, CVA to discuss durable goods orders, July’s drop in consumer confidence, the Fed’s monetary policy and the initial reading of second quarter GDP, in addition to earnings news. The hosts also explore a case study of a young doctor who has the opportunity to buy the client list of a retiring doctor. The hosts talk about the many aspects of what it takes to open your own business. The experts also answer listeners’ questions on the strategy of rolling IRA funds into a 401(k) to avoid required minimum distributions if you are approaching 70 ½ and still working. They also cover stock questions on pharmaceutical companies Akorn, Inc., and AMAG Pharmaceuticals, and electronics company Sony.
Our experts discuss how buying an existing business still involves the planning and concerns of a start-up business.
While the daily numbers show the week started and ended in the red, the overall direction for the markets was up. Monday’s red results were likely caused by a slip in West Texas Intermediate crude, as the slip affected several of the big energy companies. In economic news, durable goods orders increased in June, exceeding expectations. On Tuesday, energy stocks rebounded because of a jump in crude oil. Oil prices still dominated the headlines Wednesday, as crude oil added 1.7% to settle at $48.79 a barrel following a decline in crude oil inventories. Comments from the Federal Reserve’s two-day meeting offered no grand revelations on whether they will lift interest rates at the upcoming meeting in September. However, the Fed kept its stance that the U.S. economy and job market are continuing to improve. Indices closed out mixed on Thursday with disappointing earnings news from Procter & Gamble. Friday’s session ended in red territory as Energy stocks Exxon Mobil and Chevron traded lower following the release of less-than-stellar earnings details. The markets also likely reacted to The University of Michigan’s consumer sentiment index, which fell to a reading of 93.1, down from 96.1 in June. Economists had expected a lesser dip to a reading of 94.