Dow Logs 8-Day Win Streak
Weekly Update – September 16, 2019
The Week on Wall Street
Stocks edged toward all-time peaks during a relatively calm week marked by easing trade tensions. Friday marked the eighth straight daily advance for the Dow Jones Industrial Average.
Small-cap shares, as tracked by the Russell 2000 index, rose 4.85% in five days. The S&P 500 improved 0.96% for the week, while the Dow and Nasdaq Composite respectively advanced 1.57% and 0.91%. Foreign shares added 1.22%, according to the MSCI EAFE index.,,
A Delay for Planned October Tariff Hikes
Existing tariffs on $250 billion of Chinese imports were slated to rise from 25% to 30% on October 1, but the White House decided Thursday to postpone the increase until October 15, in a “gesture of good will” honoring a request from Chinese Vice Premier Liu He.
Bloomberg reported last week that some White House officials were considering an “interim” trade agreement that could pause some import taxes on Chinese products, so long as China agrees to buy specific U.S. crops and address intellectual property concerns.
More Risk Appetite
Last week’s conciliatory gestures between the U.S. and China influenced the bond market. By Friday’s close, the 10-year Treasury yield had climbed to 1.90%, up 0.35% for the week after a big selloff. (A rise in bond yields generally reflects a drop in bond prices.)
Inflation Pressure Increases
Yearly core inflation reached a 13-month peak of 2.4% in August, according to the federal government’s Consumer Price Index. Core inflation (which excludes volatile food and fuel costs) has now increased for three straight months.
This week, traders await the Federal Reserve’s latest policy announcement. Whether the Fed chooses to cut short-term interest rates, any guidance in the statement will be highly scrutinized, as Wall Street is eager to discern any hints about whether the Fed is prepared to continue cutting short-term rates.
THE WEEK AHEAD: KEY ECONOMIC DATA
Wednesday: The Federal Reserve’s policy announcement is scheduled for 2:00pm EST, and Fed chair Jerome Powell is slated to address the media at a subsequent press conference.
Thursday: The National Association of Realtors issues its August existing home sales report.
Source: Econoday / Federal Reserve, September 13, 2019
The Econoday and MarketWatch economic calendars list 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: Adobe (ADBE), FedEx (FDX)
Wednesday: General Mills (GIS)
Thursday: Darden Restaurants (DRI)
Source: Zacks, September 13, 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.
“It is only the farmer who faithfully plants seeds in the Spring, who reaps a harvest in the Autumn.”
- B.C. Forbes
Fall Chicken Casserole
- 2 lbs. boneless, skinless chicken breasts
- ½ yellow onion
- 2 sweet potatoes
- 1 lb. of Brussels sprouts
- ¼ cup chicken broth
- 6 cups cooked rice
- ¾ cup dried cranberries
- ¾ cup almonds, sliced
- Preheat the oven to 350° F.
- Season the chicken with salt and pepper, and cook until done, about 8 minutes per side.
- Cut chicken into 1-inch pieces.
- Cook the veggies (sweet potato, onion, Brussels sprouts) and season with thyme, paprika, salt, and pepper, to taste.
- Add the chicken broth and simmer on low for at least 5 minutes.
- Stir in the cooked rice and chicken, and top with the almonds.
- Bake for 20 minutes.
Recipe adapted from Delish
Is Your Office in a Historic Building? You May be Eligible for a Tax Credit
In an effort to protect heritage sites and other history, the IRS implemented their rehabilitation tax credit. This credit offers an incentive to renovate and restore old or historic buildings. Here are some of the highlights to help you determine if your building is eligible:
- The credit may pay for 20% of the qualifying costs of rehabilitating a historic building.
- This 20% needs to be spread out over 5 years.
- The credit doesn’t apply to the purchase of the building.
- Taxpayers use Form 3468, Investment Creditto claim the rehabilitation tax credit.
Although this credit might not move the needle a significant amount for a lot of situations, it’s still a step in the right direction in trying to preserve our country’s history. These historic buildings are beautiful, and with a little care, they can be restored to their former glory. Whether your office is in a historic building or you just enjoy learning about your area’s past, this tax credit helps give significance to this nostalgia.
* 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
At-Home Putting Drills
Most golfers are always looking to improve their short game. Sinking your putts is often the difference between a birdie and a par (or a par and a bogey). Here are some of our favorite, at-home putting drills that can help with your accuracy on the green:
- The Clock Drill - Place 12 balls in a clock shape around the cup. You can change up the distance, but 2 to 3 feet should work well. This helps you become more comfortable with short putts, no matter where your ball lies.
- 1-2-3 Drill -The 1-2-3 drill is a classic drill to end your practice or just to do during some free time during your warmup. Place three balls in a straight line in front of the hole at various distances (such as 2 feet, 4 feet, and 6 feet). Putt them in, starting at the closest ball.
- The “Tiger Woods Gate” Putting Drill -This drill will help you square off the head of your putter every time, as you get a feel for this form. Place two tees just wider than your putter’s head into the green, and alternate hitting the putter through the gate with one hand at a time.
Tip adapted from True Strike
Neck and Shoulder Stretches for Desk Potatoes
Many of us sit at a desk for hours a day and stare at a screen. This can cause neck and shoulder pain, and these easy, desk stretches can help:
- Overhead side stretch -Not only does this stretch lengthen your neck, it can also help stretch your lats (your side muscles) and your obliques. While sitting up straight, put your arms over your head and lean to one direction. Repeat on the other side.
- Side-neck stretch -Gently put your hand on the back of your head and guide it to your chest. Then, instead of putting your head straight down, turn it slightly by looking at your thigh. Here’s a video demonstration(skip to 2:20 to see this stretch).
- Neck-roll stretch -Relax and lean your head forward, slowly roll it to one side, and hold for about 10 to 20 seconds, then slowly roll it to the other side.
- Upper-trap stretch -Stretch your traps (the muscles above your shoulders) and your beck by gently pulling your head toward each shoulder. Hold on each side for 10 to 20 seconds.
As always, never force a stretch. As you become more flexible, you’ll be able to grow into the movement more, but only stretch as far as your body lets you.
Tip adapted from Healthline
Hosting a Swap Party: Grow Your Wardrobe Sustainably
Have you ever looked at one of your well-dressed friends and thought “I wish I had that outfit.” Well, maybe you can! Buying gently worn clothes instead of buying new pieces is a great way to save money and be environmentally friendly. Even if you’re not interested in the idea of thrift stores, consider getting some friends together this fall to host a swap party. Everyone brings clothes they no longer want, and together, the group is able to swap each other’s wardrobes. Throw in some snacks and drinks too! You’re sure to get some new pieces for the upcoming season.
To make your swap party a success, consider inviting friends with corresponding sizes, so everyone can swap around. You may also want to set rules, such as what guests can and can’t bring.
Tip adapted from Money Crashers
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