Ben Crowe, CFP®, CFA, C.P.A., joins Matt Hames, CTFA, and Troy Harmon, CFA, CVA, on “Money Talks” to discuss the week’s market performance, interest rates, oil inventories and import and export prices. The week began with markets closing in the red, followed by mixed results on Tuesday, as crude oil prices demanded attention from investors. Commerce Department data showed wholesale inventories exceeded expectations, increasing by 0.4% in April. By mid-week, stocks gained on Greek debt news and a jump in crude oil. The European Central Bank boosted the amount the Greek central bank may loan to national banks to 83 billion euros, up from the previous limit of 80.7 billion euros. The upward climb continued on Thursday as data from the Department of Commerce showed retail sales increased 1.2% in May. Crude oil took a breather Thursday. West Texas Intermediate crude slipped 1.1 percent to settle at $60.77 a barrel. Indices ended Friday’s session in the red zone. Stocks dipped amid Greek uncertainty and other economic data. The Producer Price Index increased 0.5%, exceeding an anticipated 0.4% gain. In a preliminary reading for June, the University of Michigan’s consumer sentiment index hit 94.6, a respectable jump from May’s final reading of 90.7.
This week our experts address listeners’ questions about PICO Holdings, Fidelity National Information Services, Rockwell Collins, ZELTIQ Aesthetics and MyRA.
This week on “Money Talks” Dr. Gene Henssler is joined by Bil Lako, CFP®, Matt Hames, CTFA and Troy Harmon, CFA, CVA to discuss the Personal Income report, Manufacturing, Factory Orders, and Productivity and Costs. They also discuss the housing market and the low interest rate environment. Later in the show, they discuss a case study of a senior whose assets are likely to run out before his life expectancy. They discuss what breathing room a reverse mortgage might provide him. The experts also address listeners’ questions on spousal riders for long-term care policies and stocks Eli Lilly and Colgate-Palmolive.
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.