Dow, S&P 500 Extend Win Streaks
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WEEKLY UPDATE - NOVEMBER 11, 2019
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The Week on Wall Street
Domestic and international stocks rose last week. Risk appetite outweighed concerns about the state of U.S.-China trade discussions.
The Dow Jones Industrial Average, Nasdaq Composite, S&P 500, and MSCI EAFE all ended the week with gains. Blue chips led the way, as the Dow added 1.22%. The Nasdaq improved 1.06%; the S&P, 0.85%. The EAFE, tracking developed stock markets away from North America, was up 0.76%. The Dow recorded its third straight weekly gain; the S&P, its fifth. [1][2][3]
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Will Tariffs Phase Out or Remain?
Thursday, a spokesman for China's commerce ministry said that U.S. and Chinese trade representatives had "agreed to remove" existing tariffs in "phases," while working toward a new trade deal.
On Friday morning, President Trump told the media that he had not agreed to any such condition. President Trump and Chinese President Xi Jinping are still expected to sign off on "phase one" of a new bilateral trade agreement.[4]
Service Sector Activity Picks Up
A closely watched index of U.S. business activity posted an October gain. The Institute for Supply Management's Purchasing Managers Index for non-manufacturing firms rose nearly two points last month to 54.7. ISM also noted an October increase for new orders.
As most U.S. companies provide services rather than manufacture products, this news is encouraging and suggests more momentum in that sector.[5]
Final Thought
Monday is Veterans Day; the stock market will be open, but the bond market, plus all federal government offices, will be closed.
THE WEEK AHEAD: KEY ECONOMIC DATA
Wednesday: Federal Reserve Chairman Jerome Powell begins two days of testimony on the country's economic outlook in Congress, and the Bureau of Labor Statistics presents new inflation data in the October Consumer Price Index.
Friday: October retail sales figures arrive from the Census Bureau.
Source: Econoday, November 8, 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
Tuesday: Praxair (LIN), Tyson Foods (TSN)
Wednesday: Cisco (CSCO)
Thursday: Applied Materials (AMAT), Nvidia (NVDA), Walmart (WMT)
Source: Zacks, November 8, 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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"Brave men rejoice in adversity, just as brave soldiers triumph in war."
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Lucius Annaeus Seneca
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WWII "Soldier Kisses" Cookies
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These super simple cookies date back to WWII and are just as delicious today. Celebrate Veterans Day by honoring those who serve with these tasty treats.
[24 servings]
Ingredients:
- 2 egg whites
- 1 cup of brown sugar
- 2 cups of walnuts, finely chopped
Directions:
- Preheat the oven to 350° F.
- Beat the egg whites until light and frothy.
- Beat in the sugar slowly until combined.
- Continue to mix until the mixture is thick and shiny.
- Lightly fold in the walnuts.
- Scoop teaspoon-sized cookies onto the cookie sheet and bake for 40 minutes.
Recipe adapted from All Recipes[6]
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If you're trapped inside this fall and still want to work on your game, focus on strategy and think about those "dumb mistakes" you always seem to make. Chances are, with a little troubleshooting, you can avoid these mistakes next time you're out on the green. Here are some common problem areas and how to fix them:
- Instead of aiming for the pin on the green, aim for the flat part of the green. Most greens are designed with trouble spots right around the hole, so if you aim right for the flag and miss it, you'll be stuck with a tricky short game.
- Imagine your target as the bullseye on a dartboard, not the whole dartboard. There's a reason why the pros are often quoted saying "aim small, miss small."
- This one is kind of obvious, but know the course you're playing. This includes knowing what's in play, any potential hazards, and more.
You can get better at your game without even hitting the course by simply thinking about your strategy.
Tip adapted from Golf Tips Magazine[8]
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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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[1] www.wsj.com/market-data
[2] quotes.wsj.com/index/XX/990300/historical-prices
[3] www.marketwatch.com/story/stock-futures-bounce-around-as-wall-street-weighs-china-us-tariff-rollback-talk-2019-11-08
[4] www.cnbc.com/2019/11/08/trump-says-he-has-not-agreed-to-roll-back-tariffs-on-china-after-week-of-trade-optimism.html
[5] www.briefing.com/Investor/Calendars/Economic/Releases/napmserv.htm
[6] www.allrecipes.com/recipe/216331/soldiers-kisses
[7] www.irs.gov/newsroom/irsgov-has-many-resources-for-tax-preparers
[8] www.golftipsmag.com/instruction/strategy-troubleshooting/play-smarter-golf-right-now/
[9] intermountainhealthcare.org/blogs/topics/heart/2013/01/getting-vitamin-d-during-the-dead-of-winter/
[10] treadingmyownpath.com/2017/07/27/plastic-free-shampoo-conditioner/
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