Our experts look at a situation where a widower is considering a reverse mortgage to help ensure his assets last through his lifetime.
After last week’s red zone ending, the markets opened Monday higher on favorable economic news. The ISM Manufacturing Index climbed to 52.8, from 51.5 in April, exceeding estimates of 51.8. Elsewhere, U.S. Personal Income ticked up 0.4% in April following flat activity in March. On Tuesday, reports showed Factory Orders declined in April, which sent the markets lower. New Orders for manufactured goods fell 0.4%, a deeper dip than expected. By mid-week, strong performance in the Financial sector led the markets higher. Elsewhere, the Federal Reserve’s Beige Book, which covered activity from early April through mid-May, showed modest or moderate growth throughout most sectors. Labor markets improved or remained stable, with wages on a slight increase. On Thursday, a dip in Energy stocks weighed on the markets. That dip continued on Friday with poor performance in Telecom stocks. On another note, Labor Department data showed the economy added 280,000 jobs in May. Economists had expected an addition of 210,000 jobs. The unemployment rate edged up to 5.5% from 5.4%.
We address listeners’ questions on the pros and cons of spousal riders for long-term care policies and weigh investments in Colgate-Palmolive and Eli Lilly.
This week on “Money Talks”, hosts Matt Hames, CTFA, and Troy Harmon, CFA, CVA, are joined by Nick Antonucci and K.C. Smith, CFP®, to discuss the up and down moves in the market during the holiday-shortened week. They discuss durable goods, consumer confidence and moves in the housing market. The experts also take a look at a case study of an individual who wants to reduce her estate under the federal estate tax exclusion to ensure her heirs inherit her wealth. They also answer listeners’ questions on stock buybacks, Target, Sally Beauty Holdings and our outlook for the Utilities sector.
Our experts talk through a case study of an individual whose estate is beyond the federal estate tax exclusion amount and who wants to pass her wealth on to her heirs.
During the holiday-shortened week, the markets dipped into the red zone. The Dow Jones Industrial Average began the week with its largest decline in nearly a month (1%), as all 30 Dow components lost ground. Technology stocks in the S&P 500 Index fell 1.4% dragging the index down. While Wednesday, the markets recovered some of the previous day’s gains, the markets were down again on Thursday with Energy stocks taking their toll on the S&P. Labor Department figures also showed a jobless claims uptick of 7,000 to 282,000. Economists had expected a decrease to 270,000 from a revised 275,000 the week prior. On Friday, economic data weighed on the markets when first-quarter gross domestic product was downwardly revised to negative 0.7% in a second estimate. Consumer confidence decreased slightly in May, as the University of Michigan Consumer Sentiment index slipped 5.2 points to a six-month low of 90.7.
Our experts address listeners’ questions on stock buybacks, focusing on Target’s recent stock repurchase initiative and how it affected earnings. They also look at Sally Beauty Holdings and provide their outlook on the Utilities sector.
This week on “Money Talks,” Jennifer Thomas, CFP®, and K.C. Smith, CFP®, join hosts Matt Hames, CTFA, and Troy Harmon, CFA, CVA, to discuss the JOLT Survey, PPI and the employment situation, as well as earnings from Cisco. The experts also delve into a case study of a family wanting to begin saving for college for their children, ages 8 and 10. They also answer listeners’ questions on inheriting an IRA and how best to invest the assets, the effects of an inverted yield curve and robotics companies.
Our experts focus on a family that wants to begin saving for college for their children. We discuss the decisions that need to be considered before they start saving.
Our experts discuss the week’s economic releases, including the JOLT Survey, the Producer Price Index and the employment situation. The week began with the markets closing in the red zone both Monday and Tuesday on depressed prices as Energy and Technology stocks weighed on the markets. Midweek the markets were mixed while reports showed retail sales remained unchanged in April. By Thursday, the S&P closed at a new all-time record level. The upswing continued through Friday to bring the weekly results into the green.