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WEEKLY UPDATE - NOVEMBER 25, 2019
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The Week on Wall Street
Stocks declined last week as mixed signals emerged about the progress of U.S.-China trade negotiations.
The three major Wall Street benchmarks all took weekly losses. The Dow Jones Industrial Average declined 0.46%; the S&P 500, 0.33%, the Nasdaq Composite, 0.25%. Also pulling back, the MSCI EAFE index, tracking developed stock markets outside the U.S. and Canada, retreated 0.69%.[1][2]
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Nothing Conclusive Regarding Trade
As the market week ended, there was still haziness surrounding the state of U.S.-China trade discussions. Were negotiators on the cusp of a phase-one deal or further away?
Friday, President Trump told reporters that a deal was "very close," but Chinese President Xi Jinping said that his country could decide to "fight back" against certain terms. Last week, a bill intended to support Hong Kong protesters advanced through Congress, and that development was not taken well in Beijing.[3][4]
The Fed Assesses the Economy
Federal Reserve officials gathered for their October meeting "generally saw the economic outlook as positive" according to minutes from the central bank's October monetary policy meeting released Wednesday. Some of them termed the economy "resilient."
The minutes also noted that the Fed would wait to assess the impact of its recent interest rate cuts and that any upcoming policy decisions might be data dependent.[5]
Strength in the Housing Sector
Existing home sales improved 1.9% last month, by the estimation of the National Association of Realtors. Year-over-year, sales were up 4.6% through October, and the median sale price was $270,900, 6.2% above where it was 12 months earlier.
Wednesday, the Census Bureau said that single-family home construction increased for a fifth straight month in October. In addition, the pace of building permits for new homes hit a level unseen since 2007.[6][7]
What's Ahead
This will be an abbreviated trading week on Wall Street. U.S. stock and bond markets are closed on Thanksgiving Day (Thursday), and then reopen for a half-day session on Friday.
THE WEEK AHEAD: KEY ECONOMIC DATA
Tuesday: The Census Bureau issues its latest new home sales snapshot, and the Conference Board releases its November Consumer Confidence Index.
Wednesday: October consumer spending numbers appear from the Department of Commerce, and the Bureau of Economic Analysis publishes a new estimate of third-quarter economic expansion.
Source: Econoday, November 22, 2019
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
THE WEEK AHEAD: COMPANIES REPORTING EARNINGS
Monday: Agilent (A), Hewlett-Packard (HPE), Palo Alto Networks (PANW)
Tuesday: Analog Devices (ADI), Dell Technologies (DELL), Vmware (VMW)
Wednesday: Deere & Co. (DE)
Source: Zacks, November 22, 2019
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Any investment should be consistent with your objectives, time frame and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
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"Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough."
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Oprah Winfrey
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Thanksgiving is here! If you still need a last-minute dish, this sweet potato casserole is sure to be a hit with any crowd.
[6 to 8 servings]
Ingredients
For the Filling:
- ½ stick of butter
- 1¾ pounds of sweet potatoes (approximately 3 or 4 whole potatoes)
- ½ cup milk
- ¼ cup brown sugar
- 1 tsp. vanilla extract
- A sprinkle of salt
- 2 large eggs
For the Topping:
- ½ cup all-purpose flour
- ½ cup brown sugar, packed
- ½ stick butter, melted
- A sprinkle of salt
- 1 cup pecans, chopped
Directions:
- Peel and cube the sweet potatoes and add them to a large pot of salted water. Bring to a boil, then lower the heat and let them simmer until tender, about 15 to 20 minutes.
- Mash the sweet potatoes.
- For the filling, preheat the oven to 350° F. Whisk together the butter, mashed sweet potatoes, milk, brown sugar, vanilla, salt, and eggs. Transfer to a baking dish.
- For the topping, combine the flour, brown sugar, butter, and salt, and mix until the ingredients clump together. Stir in pecans and spread evenly over the sweet potato mixture in the baking dish. Bake until the top is golden, about 25 to 30 minutes.
Recipe adapted from The Food Network
[8]
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Tips for Cleaning Your Grips
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Lots of golfers make cleaning their grips a priority in the summer because their hands are sweating in the heat, but cleaning your grips in the winter is just as important because your hands may actually be drier than normal. Here are some easy tips when cleaning your grips:
- There are fancy solutions on the market that will help you clean your club grips, but all you really need is some good, old-fashioned soap and water. Dawn liquid soap is one of the best for getting off grease and grime.
- Make sure your water is super-sudsy. This will help you clean your grips more easily.
- Simply fill a bucket with sudsy soap and water, then use a clean cloth to collect some suds and rub them into your grip.
- Try to get more soap than water on the grip.
- Once you've scrubbed, run the grip under warm water. Don't make the water too hot, as this can destroy the glue underneath your grip.
Cleaning your grips this time of year will help if your hands are dry while playing.
Tip adapted from Golf Monthly[10]
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Thanksgiving Day - Offices Closed & Reduced Hours
Our offices will be closed on Thursday, November 28,
in observance of the Thanksgiving Day Holiday
We will have reduced hours on
Friday, November 29, from 8:00 am - 12:00 pm Central.
We will return to normal business hours
on Monday, December 2, at 8:00 am.
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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.
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Consult your financial professional before making any investment decision.
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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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[1] www.wsj.com/market-data
[2] quotes.wsj.com/index/XX/990300/historical-prices
[3] www.cnbc.com/2019/11/22/dow-futures-amid-us-china-trade-uncertainty.html
[4] www.cnbc.com/2019/11/22/hong-kong-rights-bill-unlikely-to-derail-us-china-trade-talks.html
[5] www.marketwatch.com/story/fed-minutes-show-worries-about-economy-had-eased-a-bit-2019-11-20
[6] www.inman.com/2019/11/21/existing-home-sales-pick-up-in-october-after-slump-nar/
[7] www.marketwatch.com/story/permits-for-new-home-construction-hits-post-recession-record-high-in-october-2019-11-19
[8] www.foodnetwork.com/recipes/food-network-kitchen/sweet-potato-casserole-3364945
[9] www.kiplinger.com/slideshow/saving/T023-S002-money-moves-to-make-now-to-prepare-for-2020/index.html
[10] www.golf-monthly.co.uk/features/the-game/how-to-clean-your-golf-clubs-and-grips-69550
[11] www.health.harvard.edu/blog/12-tips-for-holiday-eating-201212245718
[12] green.harvard.edu/tools-resources/green-tip/tips-green-thanksgiving
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