After briefly stumbling the week of September 4, domestic indexes notched significant gains last week and hit record highs. By Friday, the S&P 500 exceeded 2,500 for the first time, the Dow closed at its highest level ever, and the NASDAQ reached an intraday record. Each of the indexes gained well over 1% for the week, with the S&P 500 adding 1.58%, the Dow jumping 2.16%, and the NASDAQ increasing 1.39%. International stocks in the MSCI EAFE also performed well, with a weekly gain of 0.55%.After briefly stumbling the week of September 4, domestic indexes notched significant gains last week and hit record highs. By Friday, the S&P 500 exceeded 2,500 for the first time, the Dow closed at its highest level ever, and the NASDAQ reached an intraday record. Each of the indexes gained well over 1% for the week, with the S&P 500 adding 1.58%, the Dow jumping 2.16%, and the NASDAQ increasing 1.39%. International stocks in the MSCI EAFE also performed well, with a weekly gain of 0.55%.
When looking at these sizable increases, you might expect that positive data and geopolitical calm filled the news last week. Instead, we experienced a number of occurrences that could have derailed stock performance:
North Korea tested another missile
London experienced a terrorist attack
Industrial production declined in August
Retail sales fell in August
So, why did stocks rise despite these less-than-stellar updates?
Of course, it goes without saying that the markets are incredibly complex. You can
1. Investors mostly ignored North Korea and the London bombing.
Rather than running to less volatile investments after both geopolitical events, typical havens actually declined. After over a dozen North Korean missile tests and multiple London terror attacks this year, investors may simply be feeling complacent about these occurrences. Instead, many are looking to the Fed’s meeting this week as a market catalyst.
2. Weather affected industrial production and retail sales.
Hurricane Harvey likely pushed down both industrial production and retail sales in August, meaning these data-declines may be temporary. In addition, mild weather on the East Coast meant less air conditioner use—decreasing utility output for industrial production.
3. The Consumer Price Index (CPI) jumped.
After missing expectations for five months in a row, the
What is on the horizon?
Hurricanes Harvey and Irma could continue to affect economic data in the fourth quarter by driving down retail sales and increasing the Consumer Price Index. We may need to wait a few months before we can see the true trends underlying the data. For now, we will continue to track market performance and investor
In the meantime, we also want to help ensure you have the information you need to address another critical topic in the financial world: protecting your identity. With Equifax announcing that its data breach may have affected 143 million customers' most important personal information, many Americans need to take steps to secure their accounts. To get full details on the breach and its potential impact to you go to www.equifax.com/personal. If you have questions about what steps to take next—and how to help prevent identity theft—please contact us to talk.
Monday: Housing Market Index
Tuesday: Housing Starts
Wednesday: Existing Home Sales, FOMC Meeting Announcement
Friday: PMI Composite Flash
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Schedule a get-acquainted call, a 2nd opinion consultation, a review, or even a conference call!
– Jane Goodall
Beefy Corn and Black Bean Chili
1 lb ground beef
1 16-oz bag of seasoned, frozen black beans and corn
2 tsp no-salt chili powder mix
1 can (14 ounces) beef broth
1 can (14 ounces) tomato sauce with chili seasoning
Sour cream (optional)
Green onions, sliced (optional)
1. Add ground beef and chili spices to a large Dutch oven or pot.
2. Cook seasoned beef on medium-high heat until just browned (about 6 minutes). Stir to crumble beef as it cooks.
3. Drain fat from cooked beef.
4. Add beans, corn, tomato sauce, and beef broth to pot, and bring mixture to a boil.
5. Cover pot and reduce heat, simmering for 10 minutes.
6. Remove lid and simmer 5 minutes longer.
7. Serve and garnish with sour cream and green onions.
Deductions for Job Searches
Searching for a job can be a long, arduous process. Fortunately, one benefit job seekers may be able to enjoy is the ability to deduct some job-search expenses on their federal tax returns. When looking for a position in the same line of work, you may be able to write off certain related expenses, regardless of whether you found a job. Here are some details to keep in mind:
Not every cost is deductible when searching for employment. Here are some common deductions:
Resumes: You can deduct costs from printing your resumes and mailing them to employers.
Travel costs: If you need to travel for your job search, you can deduct related expenses, such as transportation and lodging.
Placement agency: Fees you pay for help from an employment or job placement agency are deductible.
You cannot deduct some expenses when searching for a job, such as those related to:
Changing the industry you work in
Taking a long break between ending one job and searching for another
Looking for your first job
Other details may apply, and you can find more information on the IRS website.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax advisor.
Splash in the Sand to Improve Your Bunker Play
Cleanly getting out of a sand trap can be tricky, and many golfers consistently struggle to hit solid shots from a bunker. However, with some slight tweaks, you can improve your bunker shot and move beyond the sand. The key is having the right perspectives and choosing the right club for the job.
Avoid the Standard Approach
Golfers will frequently hit two inches behind the ball and then slam the sand so it explodes. While this technique may be common, that doesn’t make it the best option. Doing so can cause you to tense your hands and cause you to bury your club in the sand—making you either blade your ball over the green or leave it in the bunker.
Correct Your Approach
Disregard the sand for a moment and envision your normal, full swing and stance.
Choose your club by the length of your bunker shot, which could be anything from a 60-degree wedge to a 9-iron. Two factors will affect this choice: your distance from the pin and how much green you have ahead.
Focus on trying to “splash” your club into the sand, rather than explode or hit it. Control your hand’s sense of feel and maintain constant pressure, and aim to create a splash divot of 6 to 8 inches and roughly ½-inch deep.
Note: Using the same swing technique, you’ll want to use less lofted clubs for longer bunker shots, and swing softer for harder sand.
Eat These Foods to Keep Skin Healthy
Skin is the body’s largest organ, and the food choices we make can either help or hurt its health. Here are some common foods and minerals you can eat to help keep your skin nourished and hydrated.
The mineral selenium may help you protect your skin from free radicals that create wrinkles, dry skin, and tissue damage. Consuming selenium may even assist in preventing skin cancer. Here are some foods with high amounts of selenium:
Consuming vitamin A can help you avoid flaky, dry skin. Vitamin A can also help improve wrinkles and brown spots, especially if you use a skin product that includes the vitamin. Here are some foods that provide vitamin A in your diet:
Low-fat dairy foods
Buying Forest Stewardship Council (FSC)–Certified Products
Do you know the source of the wood products you use? If not, the printer paper, newly built deck, or other wood-based products you use could be destructing forest ecosystems and threatening wildlife. You can help protect these forests by opting to buy wood products with the FSC certification.
How do wood products hurt ecosystems?
When wood comes from illegal, uncontrolled forestry operations, its harvest can destroy important forests,
What is FSC–Certified wood?
The Forest Stewardship Council is the only global certification system in forest management that uses an independent third-party to rank practices for social, environmental, and economic standards. Products with an FSC certification are verified to be responsibly sourced, with no forest ecosystems harmed during the harvesting process.
You can learn more about the FSC certification on The Nature Conservancy’s website.
Securities and investment advisory services offered through Geneos Wealth Management. Member FINRA/SIPC.
Financial Planner Board of Standards, Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER, and CFP® in the U.S., which it awards to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements.
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
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,
The S&P U.S. Investment Grade Corporate Bond Index contains U.S.- and foreign-issued investment-grade corporate bonds denominated in U.S. dollars.
The SPUSCIG launched on April 09, 2013. All information for an index prior to its Launch Date is back-tested, based on the methodology that was in effect on the Launch Date. Back-tested performance, which is hypothetical and not actual performance, is subject to inherent limitations because it reflects
The S&P/Case-Shiller Home Price Indices are the leading measures of U.S. residential real estate prices, tracking changes in the value of
The 10-year Treasury Note represents
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 Marketing Strategies, LLC, and not necessarily those of the named representative,
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