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Optimism Spurs a Broad Rally
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WEEKLY UPDATE - FEBRUARY 25, 2019
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The Week on Wall Street
Stocks rallied last week as optimism about a potential U.S.-China trade deal grew. The S&P 500 advanced 0.80% during the 4-day trading week to 2,792.67. The Nasdaq Composite improved 0.86% to 7,527.54, and the Dow Jones Industrial Average gained 0.64% to 26,031.81.
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The renewed prospects for a trade pact were not the only development investors found appealing last week. There were indications that the Federal Reserve might be a bit less committed to its plans to raise interest rates further this year.
[1][2]
A Look at the Fed Minutes
There were no surprises from the Federal Reserve's Board of Governors, who released the transcript from their January meeting on Tuesday. Investors pore over the meeting minutes looking for clues about the Fed's next move on short-term interest rates.
Fed policymakers appeared split on what's next. Some felt another rate hike was needed to help slow the strong economy, while others favored a "wait-and-see" approach.
[3]
Home Sales Slump
In January, existing home sales were at their slowest pace since November 2015, and down 8.5% year-over-year. One factor: rising home values. Last month, the median single-family home sale price was $247,500, almost $7,000 higher than a year ago.
Mortgage rates have now fallen for three consecutive weeks, a development that may influence home buying decisions in coming months. Thursday, a Freddie Mac survey found the average interest rate on a 30-year, fixed-rate loan at just 4.35%.
[4][5]
Final Thought
The Dow Jones and Nasdaq have posted gains for nine straight weeks and are now at levels unseen since early November. Concerns over volatility have decreased, but that does not mean it is off the table. Whatever the market does in the coming weeks and months, remember your investing strategy should be based on your goals, risk tolerance, and time horizon.
[2]
THE WEEK AHEAD: KEY ECONOMIC DATA
Tuesday: Fed chair Jerome Powell begins two days of testimony on monetary policy in the Senate.
Wednesday: The National Association of Realtors releases its latest pending home sales index.
Thursday: The federal government provides its first estimate of fourth-quarter economic growth.
Source: Econoday / MarketWatch Calendar, February 22, 2019
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 release of data may be delayed without notice for a variety of reasons, including the shutdown of the government agency or change at the private institution that handles the material.
THE WEEK AHEAD: COMPANIES REPORTING EARNINGS
Tuesday: AutoZone (AZO), Home Depot (HD), Medpace (MEDP)
Wednesday: Apache (APA), Best Buy (BBY), Office Depot (ODP)
Thursday: Anheuser-Busch (BUD), Dell Technologies (DELL), Splunk (SPLK)
Source: Morningstar.com, February 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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"It is better to fail in originality than to succeed in imitation."
- Herman Melville
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Serves 4
Ingredients:
- 2 bunches of fresh herbs, such as basil, flat-leaf parsley, marjoram
- 1 lemon
- 4 fresh bay leaves or 3 dried bay leaves
- 1 2- to 4-lb. whole chicken (preferably, free range)
- Olive oil
- 1 stick butter
- 2 sprigs of fresh rosemary
Directions:
- Place a roasting tray in the oven, then preheat the oven to 425°F.
- Chop the herbs, cut the lemon in half, and tear or crumble the bay leaves.
- Rub the cavity inside the chicken with sea salt.
- To season, carefully grab the skin at the top of the chicken breasts and gently pull away from the meat of the breast. Rub in salt, insert pieces of butter, and push in most of the chopped herbs.
- After putting the lemon halves, bay leaf and rosemary sprigs inside the chicken, return the skin of the chicken breast over the flesh.
- Tuck the wings under and firmly tie up the legs.
- Rub oil and butter over the chicken skin, sprinkle on the remaining herbs, and add salt and pepper, to taste.
- Put a few small slashes in each thigh to allow the heat to penetrate directly.
- Take the heated tray out of the oven and drizzle with enough oil to coat the pan. Put the chicken into the tray (breast-side down and leaning to one side), then place in the oven and brown skin. Roast for five minutes, then lean it to the other side. Cook for an additional five minutes, then place the chicken on its bottom and cook for approximately one more hour until skin is crispy and golden brown and juices run clear.
Recipe adapted from jamieoliver.com
[6]
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What Is the Bank Secrecy Act?*
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In a partnership with the U.S. National Money Laundering Strategy, the IRS requires businesses to keep records and file reports that could be useful in the detection of money laundering, criminal enterprise, terrorism, or tax evasion. Here are some of the financial situations that could require reporting:
Report of Cash Payments Over $10,000 Received in a Trade or Business
If your business receives more than $10,000 in cash from one buyer (single transaction) or two or more related transactions, you'll need to file Form 8300.
Report of Foreign Bank and Financial Accounts
If you live in the U.S. and have financial interest or signature authority over a foreign financial bank account, mutual fund, or trust that exceeds $10,000 anytime during the calendar year.
Money Services Businesses
If you're in the business of cashing checks, currency exchange, or selling money orders, traveler's checks, or prepaid access products for an amount greater than $1,000 per person, per day, in one or more transactions.
* 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 professional.
Tip adapted from IRS.gov[7]
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Everyone loves the beach... unless you're golfing. Getting stuck in the sand is the best way to torpedo your score. To get out of the bunker, most golfers try technical swings that involve their wrists.
Leave that stuff to the pros and go for something more predictable. Try lining up in the middle of the ball and put most of your weight on your forward leg. Keep your wrists straight, swing the club back to hip level, and then swing through the ball. You should try to end with the club head at hip level. With a little practice, this should get you out of the sand nearly every time.
Tip courtesy of Michael Easter | Men's Health[8]
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Gut Health for Total Wellness
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When your gut is unhealthy, you'll probably feel it. From weight management and mental health to mood and immunity, the health of your gut matters significantly to your overall wellness. If you consume a lot of alcohol, sugar, and the wrong kinds of fats, you could have poor gut health. Here are a few tips to help balance your good bacteria, which could assist in maintaining (or improving) the microbiome of your gut:
Eat a wide range of high-fiber foods: Eat legumes, beans, and fruits, which are all high in fiber.
Eat fermented foods: Eat yogurt, kefir, sauerkraut, and drink kombucha to increase dietary intake of good bacteria.
Eat foods that contain prebiotic fiber: Eat artichokes, bananas, asparagus, oats, apples, and other foods that contain prebiotic fiber, a special carbohydrate that facilitates the growth of good bacteria.
Take a probiotic supplement: These supplements contain live bacteria, which can help maintain levels of good bacteria in the gut. Probiotics can also help restore bacteria levels in the gut when they are compromised, such as after taking antibiotics.
Eat food high in polyphenols: These are plant compounds found in red wine, green tea, dark chocolate, olive oil, and whole grains.
Take antibiotics only when necessary and as prescribed: Antibiotics kill both good and bad bacteria. So, replenish your gut's microbiome after you've completed your course and only take these medications when necessary.
Tip adapted from Healthline[9]
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Cleaning Products and Your Health
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Harmful chemicals may enter the environment through our use of household cleaners. When toxic cleaners enter our waterways and air, they can adversely affect the health of humans and animals, alike. With the help of common household items, however, you
can make your own cleaning products, which may be kinder to the planet and your well-being.
All-purpose cleaner and deodorizer
Mix 4 Tbsp. baking soda and 1 qt. warm water, and with a clean sponge, use to wipe clean your fridge, counters, and appliances.
Glass cleaner
Take 2 cups of water, ½ cup white vinegar, ¼ cup rubbing alcohol (70% concentration), and 1 or 2 drops of orange essential oil. Put in a spray bottle and shine it up!
Heavy duty scrub
Half a lemon and ½ cup of borax will remove rust stains and grime off sinks and tubs. Just dip the lemon in the borax and scrub away (not for use on granite or marble).
Tip adapted from Good Housekeeping[10]
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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.
A 30-year fixed rate mortgage is a conventional home loan meeting the lending requirements of Fannie Mae and Freddie Mac, but it is not a mortgage guaranteed or insured by any government agency. Private mortgage insurance, or PMI, is required for any conventional loan with less than a 20% down payment.
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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Performance
Past results are not necessarily indicative of future performance and are no guarantee that losses will not occur in the future. Future returns are not guaranteed and a loss of principal may occur. The standard deviations, information ratios and allocation targets may be higher or lower at any time. There is no guarantee that these measurements will be achieved. The information provided should not be considered a recommendation to purchase or sell a particular security. Any specific securities identified do not represent all of the securities purchased, sold or recommended for advisory clients, and may be only a small percentage of the entire portfolio and may not remain in the portfolio at the time you receive this report. You should not assume that investment decisions we make in the future will be profitable or will equal the investment performance of the past. The performance shown is compared to several indexes shown herein. Broad-based securities indices are unmanaged and are not subject to fees and expenses typically associated with managed accounts or investment funds. The number and types of securities found in the index can differ greatly from that of the accounts held in the strategy shown. Investments cannot be made directly in an index. Diversification does not guarantee a profit nor protect against loss.
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This information was produced by and the opinions expressed are those of Financial Foundations as of the date of writing and are subject to change. Any research is based on Financial Foundations proprietary research and analysis of global markets and investing. The information and/or analysis presented have been compiled or arrived at from sources believed to be reliable, however Financial Foundations does not make any representation as their accuracy or completeness and does not accept liability for any loss arising from the use hereof. Some internally generated information may be considered theoretical in nature and is subject to inherent limitations associated therein. There are no material changes to the conditions, objectives or investment strategies of the model portfolios for the period portrayed. Any sectors or allocations referenced may or may not be represented in portfolios of clients of Financial Foundations, and do not represent all of the securities purchased, sold or recommended for client accounts.
Due to differences in actual account allocations, account opening date, timing of cash flow in or out of the account, rebalancing frequency, and various other transaction-based or market factors, a client's actual return may be materially different than those portrayed in the model results. The reader should not assume that any investments in sectors and markets identified or described were or will be profitable. Investing entails risks, including possible loss of principal. The use of tools cannot guarantee performance. Past performance is no guarantee of future results. The information provided may contain projections or other forward-looking statements regarding future events, targets or expectations, and is only current as of the date indicated. There is no assurance that such events or targets will be achieved, and may be significantly different than that shown here. The information presented, including statements concerning financial market trends, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.
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The charts depicted within this presentation are for illustrative purposes only and are not indicative of future performance. The data do not reflect the material differences between stocks, bonds, bills and inflation, such as fees (including sales and management fees), expenses or tax consequences. Common stocks generally provide an opportunity for more capital appreciation than fixed income investments but are also subject to greater market fluctuations. Corporate bonds, US Treasury bills and US government bonds fluctuate in value but, if held to maturity, offer a fixed rate of return and a fixed principal value. Government securities are guaranteed as to the timely payment of interest and provide a guaranteed return of principal. The principal value and interest on treasury securities are guaranteed by the US government if held to maturity. Investors cannot directly invest in an index. Actual results may vary based on an investor's investment objectives and portfolio holdings. Investors may need to seek guidance from their legal and/or tax advisor before investing. To the extent the investments discussed herein represent international securities, you should be aware that there may be additional risks associated with international investing involving foreign economic, political, monetary and/or legal factors. International investing may not be for everyone. Municipal Bonds may be subject to state and local taxes, and/or the alternative minimum tax and capital gains tax. May be worth less or more than face value if sold prior to maturity.
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By clicking on these links, you will leave our server, as they are located on another server. We have not independently verified the information available through this link. The link is provided to you as a matter of interest. Please click on the links below to leave and proceed to the selected site.
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[1]
quotes.wsj.com/index/SPX
quotes.wsj.com/index/COMP
quotes.wsj.com/index/DJIA
[2] www.marketwatch.com/story/dow-reclaims-26000-and-ends-at-3-12-month-peak-as-stock-market-levitates-on-tariff-hope-2019-02-22
[3] www.bloomberg.com/news/articles/2019-02-20/fed-minutes-show-officials-unsure-on-need-for-rate-hikes-in-2019
[4]
tradingeconomics.com/united-states/existing-home-sales
[5] www.washingtonpost.com/business/2019/02/21/mortgage-rates-fall-third-week-row
[6] www.jamieoliver.com/recipes/chicken-recipes/my-perfect-roast-chicken/
[7] www.irs.gov/businesses/small-businesses-self-employed/bank-secrecy-act
[8] www.menshealth.com/trending-news/a19531965/expert-approved-golf-tips/
[9] www.healthline.com/nutrition/gut-microbiome-and-health#section8
[10] www.goodhousekeeping.com/home/cleaning/tips/a24885/make-at-home-cleaners/
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