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NOTE FROM PHIL G.
HAPPY NEW DECADE EVERYONE!!!! I'm sure most of you have begun working on those New Year's Resolutions. Those are usually pretty fun and motivating for a bit. As your planner, let's get together soon to talk about the New Decade Resolutions!!! Let's set some goals for not just one year, but take a bigger picture look at a 3 yr, 5 yr, and 10 year goals. Give us a call if you're looking to review your big picture. Don't forget you need to "Plan to Rise Above."
Talk to you soon! Phil
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the week on wall street
Stocks descended from record highs Friday, as traders reacted to a U.S. drone strike that killed Iran's top military officer. Oil prices rose more than 3% following the breaking news.
1
Wall Street benchmarks ended up having a sideways week, shortened by the New Year's Day holiday. The Dow Jones Industrial Average lost 0.04% across four trading sessions; the S&P 500, 0.16%. In contrast, the Nasdaq Composite rose 0.16%. The MSCI EAFE index, benchmarking developed overseas stock markets, added 0.30%.2-3
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oil takes center stage
WTI crude oil settled at $63.05 a barrel on the New York Mercantile Exchange Friday, down from an intraday peak of $64.09 (which was its highest price since April).
The commodity rallied Friday as energy traders considered the possibility of supply disruptions in the Middle East in retaliation for last week's U.S. air strike.4
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MANUFACTURING ACTIVITY DECLINES
At the start of each month, economists watch the Institute for Supply Management's Purchasing Managers Index for the factory sector, which is considered a key barometer of U.S. manufacturing health.
Last week, ISM announced a December reading of 47.2 for this index, the poorest in more than ten years. A reading below 50 indicates manufacturing activity is contracting rather than expanding.5
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THE WEEK AHEAD: KEY ECONOMIC DATA
Tuesday:
The Institute for Supply Management presents its December Non-Manufacturing Purchasing Managers Index, gauging the pace of activity in the U.S. service sector.
Wednesday:
Payroll processor ADP releases its December national private-sector employment report.
Friday:
The December jobs report from the Department of Labor
.
Source: MarketWatch, January 3, 2020
The MarketWatch 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.
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THE WEEK AHEAD: COMPANIES REPORTING EARNINGS
Wednesday:
Constellation Brands (STZ), Lennar (LEN), Walgreens Boots Alliance (WBA)
Friday:
Infosys (INFY)
Source: Zacks.com, January 3, 2020
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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President
Wealth Advisor
phil@pmgwealth.com
George Maroudas
Wealth Management Coordinator
george@pmgwealth.com
Terry Maziarka
Client Service Manager
terry@pmgwealth.com
847.550.6100
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WEEKLY QUOTE
"The
moment of
victory is much too
short to live for that and nothing else."
MARTINA NAVRATILOVA
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WEEKLY TIP
Turning
50 in 2020? You now have the chance to make
catch-up contributions to retirement accounts and to workplace retirement plans.
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WEEKLY RIDDLE
A
couple took a trip to the
Arctic Circle, and they were disappointed that they did not
see any
penguins. What didn't they realize about penguins?
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LAST WEEK'S RIDDLE
Two people are born at the same moment, but they don't have the same birthdays. How can this be?
ANSWER: They are born in different places, in different time zones.
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