Volatile Markets Continue
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BI-WEEKLY UPDATE - MARCH 5, 2018
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Volatility continued last week as markets posted their 1st weekly loss in 3 weeks.
[1]
Despite some recovery on Friday, the S&P 500 dropped 2.04%, the NASDAQ slipped 1.08%, and the Dow lost 3.05% for the week.[2] Internationally, the MSCI EAFE fell 2.91%.[3]
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Last week's ups and downs began with continued questions over whether the Fed will raise interest rates. By the week's end, however, rumors of an international trade war dominated the attention of investors.
Fed Suggests Raising Interest Rates
New Fed Chair Jerome Powell testified on Tuesday that inflation and a strong economy may lead to interest rate hikes sooner than expected.
[4] Whether the Fed will impose a 4
th hike this year caused investor uncertainty and led to mid-week market drops.
[5] Powell noted, however, that increased market volatility will not influence the Fed's decisions regarding rate increases.
[6]
Trump Announces Tariffs on Imports
Investor attention shifted on Thursday as President Trump announced plans to impose a 25% tariff on steel and a 10% tariff on aluminum imports.
[7] While the move could protect American metal workers, some analysts worry it may also trigger a possible trade war.
[8]
Countries around the world reacted to the news, with some announcing their own plans for U.S. tariffs in response.
[9] Over the weekend, the President reacted by noting possible tariffs on imported autos, where the U.S. has a deficit. Some analysts worry this could further hurt an already negative trade gap in our Gross Domestic Product (GDP).
[10]
Signs of Strength
Despite the developments with tariffs and rising interest rates, we did receive encouraging economic reports:
- Strong Consumer Sentiment: Last month's consumer sentiment report hit its 2nd highest recording in over 10 years. Upon the approved tax bill, companies gave nearly $30 billion in bonuses, boosting consumer incomes and attitudes.[11]
- Outstanding Jobless Claims: Last week's reported jobless claims were the lowest in 49 years. A healthy demand for labor and few layoffs have helped keep unemployment numbers low.[12]
What's ahead?
Expect more market volatility going forward as investors follow the Fed's interest rate plans to keep potential inflation in check. The President has also promised to announce specific details concerning the proposed new tariffs this week.
[13] If you have questions concerning how these developing economic policies may impact your financial life, we are always here to help
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ECONOMIC CALENDAR
Monday:
ISM Non-mfg Index
Tuesday:
Factory Orders
Wednesday:
ADP Employment Report
Thursday: Jobless Claims
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10... 9... 8... 7... 6... 5... 4... 3... 2... 1
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We will open the doors at our new office on Thursday, March 15, 2018. Our new address is 1258 Jungermann Road in St. Peters, Missouri
. O
ur phone number has not changed and will remain (636) 397-8303. The new location is near the intersection of Jungermann Road and McClay road, across the street from the QuikTrip
.
Our official moving date will be March 14, 2018.
We will have intermittent phone and internet service, so we ask that you contact our broker-dealer, Cutter & Company, at 636-537-8770 for any time sensitive requests that day. We will communicate any schedule changes due to unforeseen delays if they should occur.
Please update your records with our new contact information:
Blattel & Associates
1258 Jungermann Road
St. Peters, MO 63376
Our other contact information will remain the same:
Phone: 636-397-8303
Fax: 636-279-1075
Website: www.blattels.com
You will be receiving a letter in the mail later this week with the same information. If you have any questions about the new location, please call us and we'll be happy to help. We look forward to seeing you at our new office.
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March 14, 2018: Moving Day
We will be moving to our new office, located at 1258 Jungermann Road in St. Peters.
March 15, 2018: First Day at 1258 Jungermann Road
We will be opening the doors to our new office. All meetings scheduled after this date will be held at our new location.
March 30: Office Closed
Our office will be closed for Good Friday
.
Spring Events
We are currently planning two client events.
Be on the look out for information on our spring client breakfast seminar and a special open house celebration.
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In preparation of our big move, our servers will be taken down at 4 pm on Tuesday, March 13th. This will affect our computer capabilities. We ask that you contact us regarding any account questions, withdrawals requests, or other inquiries prior to that time.
We will not have phone or computers during the move on March 14th. Please call our broker-dealer, Cutter & Company, at 636-537-8770 for any time sensitive requests that day. They will be able to help you, either by taking care of your request, or by reaching out to one of us.
We anticipate having phone and computer capabilities on March 15th. If you have trouble reaching us, please call Cutter & Company at 636-537-8770. You can also check our web site,
www.blattels.com
, for possible updates on our relocation.
We are hoping for a smooth office relocation. However, we have all been through enough home moves to know that hiccups happen. We appreciate your patience as we go through this process. Thank you!
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"
Don't let yesterday take up too much of today."
- Will Rogers
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Soy-Glazed Cod and Bok Choy
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Serves 4
Ingredients:
- 2 tablespoons honey
- 2 tablespoons low-sodium soy sauce
- 1 tablespoon balsamic vinegar
- 4 6-ounce skinless cod fillets
- Kosher salt and pepper
- 1 tablespoon canola oil
- 3 cloves garlic, finely chopped
- 4 scallions, thinly sliced
- 1 small red chile, thinly sliced
- 1 1-inch piece ginger, grated
- 3 large heads bok choy (about 2¼ pounds)
- Chopped toasted sesame seeds, for serving
Directions:
- Place oven rack 6 inches from broiler. Heat broiler.
- Whisk together honey, soy sauce, and balsamic in microwave-safe bowl. Microwave mix until slightly thickened, 60-90 seconds.
- Pat cod fillets dry and season with ¼ teaspoon salt and ½ teaspoon pepper.
- Spoon half of the glaze over the cod and brush it to coat. Broil the cod until is opaque, 6-7 minutes.
- Spoon remaining glaze over the top.
- At the same time, heat oil in a large skillet over medium heat. Add garlic, scallions, chile, and ginger. Cook while tossing for 30 seconds. Add bok choy and ¼ teaspoon salt.
- Cover and cook for 2 minutes. Uncover and keep cooking, tossing until the bok choy is tender, 3-4 minutes more. Add 1-2 tablespoons water if necessary.
- Serve with glazed cod.
- Sprinkle fish with sesame seeds, if desired.
Recipe adapted from Good Housekeeping
[14]
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How Do You Protect Your Information from Theft?
*
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Most modern thieves may not be wearing masks or lurking in dark alleys. They can be found snooping around the Internet in search of personal information or identities to steal - the most productive way to leading lives of crime.
Here are 3 steps from the IRS to help protect your information:
Keep your computer secure.
- Install security software that automatically updates. The software should include firewalls, virus and malware protections, and file encryption.
- Guard personal information.
- Provide personal information only to encrypted websites, which include "https" in their addresses.
- Develop strong passwords.
Don't use phishing and malware.
- Ignore phishing emails, texts, or calls that sound like they're from the IRS, tax companies, or other well-known businesses. Verify any contact information of solicitors.
- Be very careful about opening email attachments.
- Download or install software only from known or trusted sources.
- Use pop-up blockers.
Protect your personal information.
- Don't carry your Social Security card or any other documents showing your number.
- Be very cautious about sharing personal information on social media.
- Store tax documents and records in secured, locked containers.
- Encrypt electronic files.
- Before discarding, shred tax documents.
Taxpayers should be on the alert for phony IRS representatives. The agency does not call and threaten people with jail or lawsuits. It also does not send unsolicited email about obtaining refunds if you update your accounts.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor
.
Tip courtesy of IRS.gov[15]
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Share the Wealth of Knowledge!
Please share this market update with family, friends, or colleagues. If you would like us to add them to our list, simply click on the "Forward email" link below. We love being introduced!
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Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
Diversification does not guarantee profit nor is it guaranteed to protect assets.
International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors.
The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.
The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896.
The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies.
The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia.
The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.
Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
Past performance does not guarantee future results.
You cannot invest directly in an index.
Consult your financial professional before making any investment decision.
Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.
These are the views of Platinum Advisor Strategies, LLC, and not necessarily those of the named representative, Broker dealer or Investment Advisor, and should not be construed as investment advice. Neither the named representative nor the named Broker dealer or Investment Advisor gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your financial advisor for further information.
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[3]
www.msci.com/end-of-day-data-search
[4] www.usatoday.com/story/money/markets/2018/03/02/world-markets-fret-over-trade-war-after-trumps-tariff-vow/388182002/
[5] www.usatoday.com/story/money/markets/2018/02/28/fed-chiefs-rate-talk-puts-stocks-bind/378755002/
[6] www.cnbc.com/2018/02/27/fed-chairman-powell-market-volatility-wont-stop-more-rate-hikes.html
[7] www.usatoday.com/story/money/markets/2018/03/02/world-markets-fret-over-trade-war-after-trumps-tariff-vow/388182002/
[8] www.cnbc.com/2018/03/01/forex-markets-focus-on-dollar-moves-after-trump-tariff-decision.html
[9] www.reuters.com/article/us-usa-trade/trade-wars-are-good-trump-says-defying-global-concern-over-tariffs-idUSKCN1GE1PM
https://www.bloomberg.com/news/articles/2018-03-02/trump-opens-door-to-trade-war-as-eu-threatens-iconic-u-s-brands
[10] www.bloomberg.com/news/articles/2018-03-02/trump-opens-door-to-trade-war-as-eu-threatens-iconic-u-s-brands
[14]
www.goodhousekeeping.com/food-recipes/easy/a46651/soy-glazed-cod-and-bok-choy-recipe/
[15] www.irs.gov/newsroom/following-simple-steps-helps-people-protect-data-from-thieves
[16] www.golfdigest.com/story/these-three-tips-from-rickie-fowler-will-make-you-a-faster-better-putter
[17] www.webmd.com/a-to-z-guides/ss/slideshow-depression-diet-stress-exercise
[18]
www.earthshare.org/2009/04/how-to-cut-office-water-waste.html
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