Delta Variant Ignites Volatility

delta variant

Fears of the spreading delta variant ignited a selloff today. Last week’s weakening under the hood as some areas experience significant drawdowns relative to the broad indexes. Concerns about deteriorating market breadth pushed equity indexes lower. With a light calendar of economic news to start the week, the focus will shift to Q2 earnings announcements.

Last Week

Concerns about deteriorating market breadth pushed equity indexes lower. The S&P 500 and Dow Jones Industrial Average fell 0.5-1.0%, while the Nasdaq slipped 2%. Energy stocks plunged 8%, with the materials, industrials and discretionary sectors also suffering losses. Consumer prices jumped 5.4% from a year ago. The largest increase since August 2008, and rose 0.9% on a monthly basis. Producer prices increased 1% from May and jumped 7.3% Year-over-Year. Most of the increases continued to come from sectors influenced by the shutdown, which Fed Chair Powell reiterated in his Congressional testimony. Powell also noted that the Fed’s benchmarks for tightening monetary policy remain “a ways off”. Crude oil fell 4.5% after Saudi Arabia and the UAE reached a compromise on increasing output, offsetting declining U.S. stockpiles.

Jobless claims reached a new pandemic-era low of 360,000, with continuing claims falling sharply to 3.24 million. U.S. manufacturing reports came in mixed, the New York region rose to a record 43 reading for July. While the Philly Fed said progress was slowing with a decline from 30.7 to 21.9. U.S. industrial production missed estimates in June, posted a 0.4% increase as supply shortages still plagued output. Prospects for Q2 U.S. economic growth were bolstered by a surprising jump in retail sales. Transactions climbed 0.6% Month-over-Month and 18% Year-over-Year, well above pre-pandemic levels. China, the world’s second largest economy expanded 7.9% in the first three months of the year, still strong but down from 18.3% the previous quarter. In Europe Germany’s CPI was in-line at 2.3% Year-over-Year while the UK’s 2.5% outpaced estimates.

Delta Variant and the Week Ahead

With a light calendar of economic news to start the week, the focus will shift to Q2 earnings announcements. Large cap mainstays IBM, Travelers, Netflix, Johnson & Johnson, Verizon, AT&T, Intel and American Express will all provide updates. On Wednesday, the ECB will deliver its monetary policy statement with an eye towards recent inflation dynamics and the difficult-to-assess risk of the coronavirus delta variant. U.S. unemployment claims are expected to fall to another pandemic-era low. Housing starts will highlight the state of the complicated homebuilder market.

Year-to-date index performance; Dow up 13.3%, S&P up 15.2%, and Nasdaq up 11.9% through the close on Friday.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Exit stage right – What to think about when you’re ready to leave your business

business

A succession plan will help assure business continuity. If you’ve built a successful business, you know that having a plan is critical to making it work. By the same token, readying your business for your retirement is an important piece of the puzzle.

While there are no set rules in a succession plan, you may want to include such details as:

  • The successor: family member, business partner or someone new who will buy out your share
  • Timeframe/transition period
  • Key personnel changes and skill retention
  • Training and development of new leadership
  • Legal considerations: buy-sell agreement, estate plan/will
  • Risk management
  • Communication strategy
  • Financial considerations: retirement income, insurance, sale price, tax implications

Protecting your most valuable asset: You

Your exit strategy recognizes when you are planning to retire from the business. It can also address any potential surprises that may impact your ability to remain in charge.

You may develop a major illness or injury that takes you away from day-to-day operations. Having insurance in place can ensure your company will continue to function in your absence. While also protecting your own earnings and family, particularly if you’re not able to return:

  • Disability Insurance: All owners should have their own insurance that covers their monthly earnings in the case of an illness or injury that requires long-term healing. It may include a buy-out clause.
  • Business Overhead Expense Insurance: Provides funding to the business of any overhead expenses (such as payroll or rent) if these costs are jeopardized by being away for an extended period.
  • Critical Illness Insurance: This is generally a lump sum payment that helps you cover your bills if you have a serious illness.
  • Key Person Life Insurance: A life insurance strategy may include a payout to the business for continuity, or to your estate to minimize any tax implications. Life insurance proceeds equalize payments to heirs.

If you plan to retire, you need a plan

If it’s time for you to hand over the reins, your succession plan should address the time horizon for transition. You may want to execute a buy-sell agreement with partners or co-owners. The agreement outlines the circumstances of the exit and the price for your share of the business. Insurance can be used to help minimize the tax impact of a small business sale and to finance retirement income.

There are many tax-efficient ways to protect your business and help you transition to your retirement.

Contact me if you’d like to learn more about these business-owner strategies.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, retirement and business planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Preparing for retirement emotionally

retirement emotionally

Retirement paves the way to a new and exciting chapter of our lives, emotionally too. This is the moment of relief when, for the first time ever, we now have ample time to travel the world, take up new hobbies, and scratch whatever itch we’ve been ignoring.

Yes, retirement should be exciting. But for many of us, the thought of leaving our jobs forever can be daunting. After all, our careers play an important role in shaping our identity. And to suddenly cut the cord means we have to find something else to fill the void.

This isn’t helped by the fact that the word ‘retirement’ can be quite limiting – when it’s anything but. All too often, people associate it with old age and the ‘pipe and slippers’ part of life. This is why the financial conversation is often limited to how much you might have to retire on. And that’s that.

But it’s not as simple as that anymore. Today’s typical 60 somethings are nothing like those of a generation ago.

A lot of this comes down to the fact that life expectancy in North America has been on the rise for some time now. A generation ago, men could expect to live up to their late sixties, and for women their mid-seventies. Since then, life expectancy has improved incrementally. The current life expectancy for North American men is 76 and women 85.

This means that for many retirees these days, retirement isn’t a wind-down phase, but a whole new beginning. This means that financially speaking, you might need to consider how to manage your retirement fund more strategically.

But how do you prepare for such a massive transition emotionally?

According to gerontologist Ken Dychtwald, it’s all about mindset. He advises people approaching retirement to do so as they would a career: His advice is to set goals, to visualize a ladder to climb, and to use these targets as motivation to move closer towards your next destination.

Unfortunately, the statistics show how detrimental it can be to find yourself without purpose and meaning at retirement: depression is prevalent in 22% of men and 28% of women at the age of 65 and over.

If you’re unsure of how to even begin to plan for retirement, then following some of the principles from Professor Dychtwald’s five phases of retirement could help you map out your journey.

Imagination (15 before retirement)

Being at least fifteen years away from finishing work for good, retirement might not seem like a priority. At this point, you’re more likely to be making sure that career aspirations are met, bills are paid, and your children are able to get through university.

But it’s important to think about your pension at this stage as it can help to ensure you have the financial stability to live life on our terms, post-retirement. This is where you can start to dream big and imagine the retirement you really want to have.

Anticipation (3 years from retirement)

Now you’re planning to turn retirement it into reality… this is where preparing emotionally is just as vital as preparing financially.

A great way to do this is by trying to develop a network of retirees whom you can trust for advice so they can share their experience of how they coped with the process.

Make a note of the goals you want to accomplish and what measures need to be put in place in order to achieve them.

Preparing (1 year before retirement)

The new beginning is near! Now’s the time to start developing concrete steps. Ask yourself what you’re going to do during the first week of retirement and what you plan on doing on a day-to-day basis.

Make a plan of what you want to achieve in the first six months and talk it through with your partner or loved ones. Visualizing the practicalities of this new phase will make it seem less daunting when it eventually arrives.

The liberation phase (first year of retirement)

Your working life is finally over! This is the stage when you’re likely to feel the most excited, relieved, and liberated. You can finally begin to explore new opportunities, travels, and hobbies.

Unfortunately, this honeymoon period will eventually fade, but remember, this is natural.

Dychtwald states the importance of staying physically active and maintaining strong social ties with people at this stage.

Reorientation (3 years into retirement)

This is the part where creating a legacy for the next generation can be top of mind. Whether that’s by sharing your knowledge and wisdom with others, or by thinking more carefully about the financial gifts you’re leaving children and grandchildren, this is an opportunity for you to decide what impact you want to leave on the world.

Hopefully, this is helpful in terms of thinking about retirement and a brand new beginning. Retirement isn’t the end of the road; dream big and don’t be afraid to chase after your deepest desires.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Summer is here – will stocks melt up or cool off?

stocks

Last week, stocks finished higher after mostly solid economic data, including labor numbers that showed steady progress. Since the 10-year Treasury yield rally began in August 2020, there have been two main consolidation periods. What might be the next catalyst for a move in interest rates? The S&P 500 Index closed within 3 points of its all-time closing high of 4,232.60. Last week all indexes finished up slightly; Dow up 0.69%, S&P 0.64%, and Nasdaq 0.49%.

Last Week

The S&P 500 Index gained 0.64% last week, closing within 3 points of its all-time closing high of 4,232.60. The index has steadily climbed back after hitting its mid-May lows as inflation fears weighed on the index with consumer discretionary and information technology taking the biggest hits. Investors have continued to digest inflation concerns against their expectations for the equities markets. Stocks levitated higher by less than 1% for the week after mostly solid economic data, including labor numbers that showed steady, if not overwhelming, progress. Treasury yields fell after the May non-farm payrolls report came in at a solid gain of 559,000. This was much higher than the 266K the previous month, but lower than the expected 675K.

This led to Friday’s rally with data conveying an improving employment picture in the U.S. recovery. The recovery may be slower than expected. Leading markets to assume the Federal Reserve will continue in its accommodative monetary policies. Nearly half the states have cut overly generous jobless benefits, the unemployment rate dropped to 5.8% in May versus 6.1% in April, and average hourly earnings are up 2.0% versus a year ago. Initial jobless claims fell for the 5th week in a row to 385,000.

The expectation of a quicker recovery in global demand for crude oil helped it advance 4.98% last week, closing at $69.62 per barrel on Friday. This propelled the energy sector be the top performer of the week. OPEC agreed to continue gradually easing production cuts.

The Week Ahead

Since the 10-year Treasury yield rally began in August 2020, there have been two main consolidation periods. The first came just below 1%, beginning in November 2020 to January 2021. The second began in April 2021 and continues today, with the yield currently near 1.56%. The next catalyst? Last week the Federal Reserve said that it plans to start selling its portfolio of corporate bonds and exchange-traded funds that it bought during the pandemic. This is not expected to influence the market much. Recent economic data has been encouraging. But not so strong that the Fed would consider tapering its bond buying just yet.

The next Fed meeting is scheduled for June 15-16. This week offers an update on U.S. inflation along with 10-year and 30-year bond auctions, all of which could produce interest rate volatility. The U.S. trade balance came out today, and consumer sentiment on Friday. The week closes with day 1 of the G7 meetings in London, where Treasury Secretary Yellen looks for support to rewrite international tax rules. Year-to-date index performance; Dow up 13.56%, S&P up 12.62% 6.8%, and Nasdaq up 7.19% through the close on Friday.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Summer Road Trips and Stock Market Near Highs

road trip

Summer is the time to hit the open road and explore this big country. But with long road trips can come high expenses – make sure you don’t let unexpected costs creep in while planning the perfect trip. Managing finances is a lot like taking a road trip: You’re setting your sights on a goal and planning the best route to get there. Keep in mind it’s optimal to get an early start (saving), stay on the right roads (budget), and arrive safely at your destination (retirement).

Last week, stocks posted slight gains of 1-2%+ to close out the month of May. Overall, the rapidly expanding U.S. economy continued to forge ahead, with jobless claims hitting another pandemic-era low of 406,000. Inflation is still running hot. Oil prices jumped 4% after an inventory draw of 1.7 million barrels. Bitcoin finished with a small gain but remained volatile, and several Fed governors commented on the benefits of a digital dollar backed by the central bank.

This short week kicks off with inflation updates from the Europe. Last Friday, President Biden laid out a $6 trillion fiscal 2022 budget proposal. Likely to stir up debates lasting through the summer and possibly longer. The end of the week is busy with labor reports. Might we see jobless claims fall under 400,000 for the first time in 14 months? After last month’s surprise drop in non-farm payrolls, analysts anticipate 670,000 jobs to have been created in May. The U.S. unemployment rate is expected to tick down under 6%, steady progress but still a long way away from where the Fed would consider any major monetary policy changes. Year-to-date index performance; Dow up 12.8%, S&P up 11.9%, and Nasdaq up 6.6% through the close on Friday.

If you have any questions on your road trip journey, please reach out – I’m here to help guide you. And don’t forget, I’m happy to assist as your automatic blind spot detection for things you may not see that could put you at risk. Just ask! So rest easy, enjoy the ride, and let’s make this one of the best summers ever. Take care, be safe, and post a picture or two of your road trip.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Crypto Freefall and Your Portfolio

crypto

Markets ended flat after an up and down week and crypto fell across the board. The growth-oriented Nasdaq outperformed the Dow, S&P 500, and Russell 2000. The economic calendar is light until Thursday, when we get a second look at U.S. Q1 GDP. Monthly durable goods report should offer a glimpse into how supply chains are holding up. The Ethereum Liquid Index (ELX) came crashing back to earth last week. The Dow down 0.43%, S&P 0.39%, and Nasdaq 0.33%.

Last Week

Markets survived another bout of volatility in a roller coaster week. Turbulence in risk assets was partially sparked by a huge selloff in Bitcoin and other crypto currencies. China banned financial institutions from providing services related to the digital transactions. Crypto Bitcoin plunged from $45,000 to near $30,000 before recovering to $36,000.

Treasury yields briefly spiked after the April Fed meeting minutes released. The minutes mentioned that a strong pickup in economic activity would warrant discussions about tightening monetary policy. Chairman Powell reiterated that the recovery remains “uneven and far from complete” and hasn’t shown enough progress for policy change. Housing data cooled a bit. New construction dropped 9.5% in April and existing sales off 2.7%. Builder confidence remains strong due to lack of inventory, low interest rates, and plenty of home buyers. U.S. manufacturing stayed robust even as the Empire State and Philly Fed Manufacturing Indexes came in slightly below expectations.

Week Ahead

The economic calendar is light until Thursday, when we’ll get a second look at U.S. Q1 GDP, no change expected from the +6.4% estimate. The monthly durable goods report should offer a glimpse into how supply chains dealing with material shortages and consumer demand. Housing reports in focus with new home sales and mortgage applications are released. Pending home sales may follow last week’s cooling trend. Unemployment claims expected to fall again. On Friday, the Fed’s preferred measure of inflation, the PCE Price Index, will provide another check on spending behavior. Chicago PMI rounds out the month ahead of Memorial Day weekend.

The Ethereum Liquid Index (ELX), a crypto currency index, came crashing back to earth last week. It had been on a steady climb for the previous 12 months. Posting more than a 2,000% gain at the highs. From those highs, it took 6 days to cut the price in half. A 50% cut isn’t nearly as unusual in crypto as in equity markets, the increased volatility may stick around longer.

Year-to-date index performance; Dow up 11.77%, S&P up 10.65%, and Nasdaq up 4.52% through the close on Friday. Have a fun and safe upcoming holiday weekend!

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Could there be a link between investing and wellbeing?

wellbeing

Over the past few years, we’ve seen a huge shift in society’s attitude towards health and wellbeing. We’re now generally more aware of the importance of good mental health. Thankfully, there is now a greater number of options available for people looking for help.

From meditation apps to supportive techniques and advice on ‘self-care’. There are many different ways we can keep on top of our mental fitness. Almost in the same way as we can our physical fitness.

But there is another aspect of mental health that isn’t as widely discussed. That’s the link between wealth and happiness.

Money is of course top of the list when it comes to issues most people worry about.

Whether it’s regarding short-term finances or our long-term future, financial insecurity can cause serious anxiety and low self-esteem.

But even though it often seems tempting to ignore money worries, recent research suggests that tackling the issues head-on can actually make people feel better than not doing it at all.

And by this they mean something as simple as opening an investment account.

In Blackrock’s Global Investor Pulse, which each year asks what people think and feel about their financial health, they report that once people start investing, 43% feel happier about their financial future, 36% of people have a higher feeling of wellbeing and 19% feel less stressed.

The results say this is true regardless of wealth, age, gender or life stage. Even more encouraging is that new investors say the improvement in their mood is immediate.

For those of you who already have a financial plan, this may simply be interesting to note. I’d love to know if you feel you are happier as a result of knowing that you have a plan in place. And even more interesting would be whether – as the research suggests – this feeling was immediate.

But it may be more meaningful to people you know who aren’t currently investing their money. Currently 63% of British adults hold no market-based investments at all. The reasons range from finding it too difficult to understand and feeling as if ‘investing is just for experts’.

However, now might be as good as any to enter the market for the first time. And tiny steps can have a huge impact. Even investing small amounts of money can lead to a greater return. Versus just having it in a savings account where interest rates are at an all-time low.

If you think it would be helpful for me to talk to anyone in need of a financial second option, then please pass on my details – I’d be happy to give them a call. Afterall, the results also say that 76% of investors who use a financial adviser report having a positive sense of wellbeing, and who am I to argue with that?!

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

So what is Dogecoin?

dogecoin

In a week packed with important economic announcements, a late rally left major indices mixed. The S&P 500 and Dow Industrials scored new all-time highs, while the Nasdaq dipped. The famous question from the SNL skit, “so what is Dogecoin” is gaining plenty of attention, but remains unanswered? The Dow up 2.72%, S&P up 1.26%, and Nasdaq down 1.48% for the week.

Last Week

In a week packed with important economic announcements, a late rally left major indices mixed. The non-farm payrolls disappointed, with only 266,000 jobs created in April versus expectations of nearly 1 million. Increased government unemployment benefits continue. This contrasted with Wednesday’s ADP report which showed private sector payrolls advancing by 742,000 in April. The unemployment rate in April ticked up to 6.1%. In general, the labor market continues to improve, with last week’s new claims falling to a pandemic-era low of 498,000.

ISM Manufacturing and Non-Manufacturing Indexes, which are based on industry survey data, both came in lighter than expected for April. However, both indexes still signaled economic expansion. With economic activity picking up, but the jobs number sending mixed signals to the market,
policymakers are reluctant to change their conservative views of the recovery. Treasury Secretary Janet Yellen said the jobs report “underscores the long-haul climb back to recovery.” She retains her expectation of full employment returning in 2022.

Crypto currency dogecoin fell 25% intra-day Sunday following the Musk hosted SNL. But what is it? According to CNBC, in 2013, software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency as a way to make fun of bitcoin and the many other cryptocurrencies boasting grand plans to take over the world.  “The joke is on Wall Street this time,” said Mati Greenspan, portfolio manager and founder of Quantum Economics. “What you have is a situation where teens on TikTok are outperforming even the smartest suits by thousands of percentage points.” Dogecoin hit an all-time high Friday afternoon. Dogecoin now has a market capitalization of about $92 billion following a six-month climb of more than 26,000 percent. Not much of a joke at the moment.

Week Ahead

Treasury Secretary Janet Yellen’s hawkish rate hike commentary briefly sent worry through risk markets before she walked them back. Fed members continued to deflect inflation concerns. There are several FOMC member speeches today and tomorrow. So we will see if they maintain a united front. U.S. retail sales are expected to come in strong again. This continues the strong results from last month, a nearly 10% jump. Crypto currency dogecoin has rebounded 5% intra-day on Monday.

Year-to-date index performance; Dow up 13.62%, S&P up 12.68%, and Nasdaq up 6.70% through the close on Friday.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

Erie CO Financial Advisor with a focus on investments, wealth management, and retirement planning in Boulder, Louisville, Niwot, Lafayette, Windsor, Berthoud, CO

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Financial Review – Why now is still a good time

financial review

Isn’t it funny how quickly we adapt? Who would have thought that video conferencing would have become such an important part of life. And in fact a lifeline for many? It’s helped friends and families to keep in touch and enabled businesses to keep running during tough times. It’s certainly provided me with a helpful way of staying connected and providing financial review to clients.

Now, at the click of a button, I can invite you to a meeting from your home. I can make it interactive by sharing our screens to show you documents and charts. Of course, these meetings also save time because we’re not having to travel to see each other. Not to mention servicing clients in different states.

But the ‘Zoom revolution’ has also brought with it a new phenomenon. The phrase ‘Zoom fatigue’ describes the feeling of drain after too many virtual meetings. Psychologists explain that the added pressure of being seen on screen is what adds to this feeling of exhaustion. The strain of having to actively show through a small screen that we’re interested and alert can be tiring.

It’s certainly true that face-to-face meetings are much more relaxed. It’s an altogether more natural experience. There’s an emotional connection that happens without thinking about it. It’s easier to sense when someone needs to pause and reflect, and there are more comfortable silences. There’s also less chance of us talking over one another.

That’s why I’ll always advocate face-to-face interaction – and why I’m looking forward to seeing you again one day soon hopefully! But in the meantime, I want you to feel confident that your review meetings and catch ups – whether on the phone or via video – will still be just as effective as in person.

I understand what an uncertain and worrying time it will be for many and that now more than ever you’ll want to talk to someone in a relaxed a way as possible.

As part of your financial review, I’ll listen to your concerns and provide you with feedback and solutions based on your individual needs and priorities. I’ll also make every effort to make things clear and simple.

Last week wrapped up Financial Literacy Month. I hope you were able to learn a few new things and apply them to your strategy. One of my goals in sharing information is to engage you with useful content so you are in the best position to grow your wealth – and maybe even have a little fun. Ask yourself these three questions to reveal how financially literate you are:

  1. Are you in control of your spending? Examining your money habits and creating a budget puts you in the driver’s seat toward smart money management.
  2. Are you saving for your future? Do you live within your means and are you investing in yourself first and foremost? If you need more info about how to best do this, ask me.
  3. Are you confident in reaching your current financial goals? Listen to your gut, and act accordingly.

If you answered yes to all three of these questions, you’re in good shape. But if you said no, don’t worry. Many people have had to reevaluate their priorities over the past year. I can help get you on the right track. I’ll also invite you to participate comfortably in the conversation and ask me any number of questions – I really mean it when I say there’s no such thing as a silly question!

I hope this provides reassurance that now is still a good time for a financial review. By re-setting your financial strategy at this point, I can put recent market performance and your longer-term financial goals into context. It will also give you the chance to pause, reflect and resettle your mind.

I look forward to speaking to you.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Proposed Capital Gains Tax Rate Increase and Your Money

captial gains

Stocks ended mostly flat on the week, with an abrupt tremor on Thursday after President Biden proposed a sharp increase in the capital gains tax rate. Housing market and job reports remain strong. The Nasdaq-100 sits just below all-time highs. Indexes for the week; the Dow down 0.42%, S&P down 0.11%, and Nasdaq down 0.25%.

Last Week

Government stimulus, monetary policy, and vaccinations have led indexes to reach near all time highs. President Biden’s proposal to increase capital gains tax rates to 39.6%, led to a severe drop on Thursday afternoon. The markets quickly recovered on Friday. Housing data continued to grab headlines, with the median selling price for existing U.S. homes up 17.2% year-over-year to $329,100 in March. Existing home sales actually dropped 3.7% last month due to supply being so limited, while new home sales in March increased 20.7% month-over-month and 66.8% year-over-year. The average sales price of new homes also increased 6% from the prior year. Jobless claims fell to a pandemic era low of 547,000. This is the lowest weekly level since March 2020.

Week Ahead

The Federal Reserve likely will not be changing monetary policy at Wednesday’s meeting. However, with economic data improving and inflation perhaps moving towards 4%, investors will be listening closely for clues about a shift in strategy. On Thursday, we will get our first look at Q1 GDP, with strong growth of 6.6% expected. The other main event this week is a slew of earnings reports. This includes a third of S&P500 companies and many of the important names in the Nasdaq, such as Apple, Amazon, Facebook, Microsoft, and Google.

The week will close out with U.S. pending home sales and several GDP reports from Europe and Canada. Before getting up in arms regarding the increased capital gains tax, consider this news was a reaction to the proposal. Also, this proposal only impacts individuals earning more than $1m. Year-to-date index performance; Dow up 11.23%, S&P up 11.29%, and Nasdaq up 8.76% through the close on Friday.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

Erie, CO financial advisor with a focus on investments, wealth management, and retirement planning in Boulder, Louisville, Niwot, Lafayette, Windsor, Berthoud, CO.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Earnings Boom or Bust – Market Brief April 19, 2021

market

A mix of good economic news and concerns about the Johnson & Johnson vaccine hit the market last week. The major indices finished with modest gains around +1% for the week. Fed chair Powell remarked last week that most officials do not see interest rates rising until 2024.

Last Week

Economic data was strong. Retails sales advanced 9.8% in March, fueled by stimulus checks, the best results since May 2020. Jobless claims fell to 576,000, well below estimates of 710,000. The Philadelphia Fed factory index jumped to 50.2 from 44.5. The highest reading in 50 years. Housing starts reached a 15 year high despite soaring lumber prices. Overseas, China’s Q1 GDP came in at +18.3% versus estimates of +19%, and trade data slightly missed lofty expectations but continued to show impressive growth. Tensions between the U.S. and China are beginning again, so we’ll see if that starts to grab more headlines in the months ahead.

Week Ahead

Fed chair Powell remarked last week that most officials do not see interest rates rising until 2024. The U.S. NFIB Small Business Optimism report showed that small businesses are struggling to find qualified workers. This may put upward pressure on wages and spark more inflation (and higher interest rate) concerns. Fed officials continue to push expectations of inflationary pressures being temporary. However, with commodity prices rising, and squeezes on the supply chain and labor markets due to the accelerating vaccination pace, how long will it be until the market forces the Fed’s hand?

Meanwhile, earnings season continues this week. Expect to hear comments about higher costs and customer demand in conference calls this week. Because the U.S. economy is emerging from the Covid-19 crisis, most analysts thought first-quarter numbers would be good. So far, they have been much better than good: By the end of Friday, S&P 500 companies that had already reported had beaten profit expectations by a combined 30%, according to FactSet, compared with a five-year average of 7%. Optimism is reinforced by the latest economic data. In the U.S., retail sales for March were the strongest in 10 months. Even in Europe, where there has been less fiscal support for the economy, figures are coming in strong.

Year-to-date index performance; Dow up 11.75%, S&P up 11.44%, and Nasdaq up 9.03% through the close on Friday.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

Financial Advisor in Erie, CO with a focus on investments, wealth management, and retirement planning in Boulder, Louisville, Niwot, Lafayette, Windsor, Berthoud, CO

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Impact of Upcoming Earnings and Economic Data

earnings and economic data

Last week, investors’ expanding risk propelled U.S. equity indices 1-3% higher, driven by large-cap technology bursting out of consolidations. The Nasdaq paced the advance, while the S&P 500 scored its 22nd record high of the year. The S&P 500 roared past the 4000 level returning over 2.75%. The index is on its longest weekly winning streak since October of last year.

The VIX, a measure of volatility, slid below 17 to its lowest level since before the pandemic. U.S. Treasury yields were flat as investors weighed better than expected producer inflation versus dovish commentary from Fed. Economic data impressed once again. Producer prices increased well ahead of expectations in March, rising 1% over the prior month. Year over year, producer prices increased 4.2%, which was the largest yearly increase since 2011.

Continued claims, or the number of people receiving unemployment benefits, continued to slowly improve, falling to a one-year low of 3.73 million in the week ending on March 27. That represents a significant improvement from the high of over 23 million reached in May 2020. Another sign housing is affected by the rise in yields, mortgage applications fell 20%.

Earnings and Economic Data Ahead

Earnings season has arrived, and so has critical economic data. The largest financial institutions like J.P. Morgan, Goldman Sachs, and Bank of America will report later in the week. Also this week, investors will weigh the latest consumer inflation data on Tuesday and retail sales on Thursday. Fed chair Powell has repeatedly stated the FOMC believes rising price pressures will only be transitory and the labor market still has significant slack. Thereby they are nowhere close to removing support or changing their dovish stance. Thursday offers plenty of market-moving potential with U.S. retail sales. Retail sales are expected to rebound sharply, as well as weekly unemployment claims. Lastly, Friday’s building permits and housing data will be closely watched. The key is whether the recent weakness tied to rising yields continues to filter through the sector.

Year-to-date index performance; Dow up 10.9%, S&P up 9.9%, and Nasdaq up 7.8% through the close on Friday.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

Financial Adviser in Erie, CO with a focus on investments, wealth management, and retirement planning in Boulder, Louisville, Niwot, Lafayette, Windsor, Berthoud, CO

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Ripple Effect of the Blocked Suez Canal

suez

Despite the Suez Canal blockage, disrupting global trade, U.S. equity indices fluctuated between gains and losses throughout a volatile week. Month- and quarter-end flows hang over the market, but J.P. Morgan’s head quant expects flows to be net positive for equities, opposite of consensus. Also, the monthly jobs report is Friday.

Last Week

U.S. equity indices fluctuated between gains and losses throughout a volatile week but surged in the final hour of Friday’s trade. The Treasury yield rally consolidated amid technical headwinds and dovish Fed comments. The re-opening trade took a deep breath but is still +35% since the November 9 Pfizer vaccine announcement. The Nasdaq Composite failed to finish higher, but it did close notably off the lows. Energy dropped precipitously early on but sharply retraced losses after a cargo ship completely blocked passage in the Suez Canal.

Fed Chair Powell’s testimony reiterated the FOMC’s belief that inflationary pressures would only be temporary. Treasury yields began the week dropping significantly on Monday and Tuesday, as Fed Chairman Powell confirmed the Fed’s commitment to loose monetary policy. He insisted that the he does not believe a surge in inflation this year will be persistent or large. Powell believes that the Federal Reserve has the tools necessary to deal with higher inflation.

Existing home sales fell 6% in February, and new home sales dropped 18% Month-over-Month. However, new home sales are up +8.2% Year-over-Year. Durable goods orders fell for the first time in 10 months. Services activity came in at an 80-month high, supported by the steepest increase in new business in 3 years. Backlogs increased though, while prices surged on unprecedented supply chain disruptions. European PMIs came in much better than expected as well, returning to manufacturing growth for the first time in 6-months. The services sector remains in contraction, hampered by the COVID-19 related lockdowns.

Week Ahead

Month- and quarter-end flows hang over the market this week. The shortened holiday week features a docket full of Tier 1 economic data. Revisiting Friday’s bewildering market movement is critical. Shares of some media and technology companies were cut down significantly. Weekend reports tie this to an over-levered fund’s liquidation. The technology-heavy Nasdaq’s ability to rally sharply in the face of higher yields seems notable too. As the calendar turns, April offers investors a potential seasonal tailwind. Historically, it’s been the strongest month for the S&P500, higher 74% of the time since 1964 by an average +1.7%. Rebalancing could create a few speedbumps though.

Over the last 3 months, 10-year yields have risen 74 basis points, while the major U.S. equity indices have climbed modestly. The S&P 500 and Nasdaq Composite are +5.82% and +1.92% respectively, but equal weight S&P500 is +11.52% as the median stock has performed better than the market-cap behemoths. The monthly jobs report is on Friday, but markets will be closed in observance of Good Friday. Next Sunday’s futures opening could be chaotic as global investors react to our labor market situation, but they also may place more weight on the ADP report mid-week. Both are expected to show solid job creation, but the Fed remains focused on the slack in the labor sector, which is illustrated through the underemployment rate. Tuesday’s consumer confidence is poised to jump sharply given the stimulus deployment and vaccine progress.

Year-to-date index performance; Dow up 8.06%, S&P up 5.82%, and Nasdaq up 1.94% through the close on Friday.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Which way will the Fed move rates and when?

Fed

Risk returned for investors, pushing U.S. equity indices 2-4% higher last week. The Fed meeting this week is priority for rate concerns. U.S. Treasury yields continued their rally on the heels of positive economic developments. President Biden signed the $1.9 trillion coronavirus relief package and announced an expedited vaccination schedule, stating all adults would be eligible to receive one by May 1. The Nasdaq rebounded from a 3-week slide, advancing 3.09% last week. The S&P finished 2.64% higher on the week, and sitting at an all-time high. And the Dow Jones index finished up 4.17% on the week.

Last Week

Positive consumer inflation data slowed the speed of the rising yields, with headline CPI coming in at +1.7% YoY. The yield curve steepened to a 5.5 year high. The Treasury sell-off continued last week as President Biden signed the latest coronavirus relief bill into law. This raised the yield on the U.S. 10-year Treasury to the highest levels since before the pandemic.

At $1.9 trillion, this is the largest of the coronavirus stimulus bills. President Biden’s urging of states to make the vaccine available to all adults by May 1 has further boosted economic growth prospects. High growth and inflation have contributed to the increase in long-term yields. Initial jobless claims were better than expected. This was the lowest level of initial claims this year, 712,000. More states have eased covid restrictions. And the Johnson & Johnson single shot vaccine increases the shot distribution to the masses. A clearer path to full recovery is well within sight.

The Week Ahead and the Fed

The Fed meets today and tomorrow. Will Fed Chairman Jerome Powell and the FOMC flap their dovish wings, or will hawkish commentary fly over financial markets? It is widely expected that the Fed will leave rates unchanged. Short-term rate markets are pricing the first rate hike in late 2022 and markedly higher rates in 2023. While the Fed has pledged to keep rates at or near zero until at least the end of 2023.

After the European Central Bank pledged to ramp up its bond purchases last week, it seems likely that Powell could forcibly push back on rate investors’ hawkish expectations. Undoubtedly, Fed officials’ latest economic projections may show stronger growth estimates, but labor market figures could temper optimism. Many believe the rally in long-term government bond yields is most concerning to Fed officials, but they have said the rise in yields is likely transitory and tied to expectations of rapid growth in coming quarters.

The Fed Impact of Rates

The Fed’s well-anchored expectations allow for such temporary shocks. After all, the Fed isn’t a day-trader. In reality, the short-end of the curve remains notably disconnected from Fed guidance, which may likely merit a response from them this week. The rout in technology stocks has resulted in a positioning washout. So a dovish Fed response could ignite a push higher where the Nasdaq leads the pack. A hawkish tilt could spark volatility, sending equities lower and yields higher.

Markets hate uncertainty, but consensus is quickly growing for higher yields. Markets’ numbness to yields rising may only grow as the narrative changes. This is often how markets process new information. Initially, higher yields were viewed as detrimental to high valuation growth stocks, but now investors are seemingly viewing them as a signal the economy’s health is improving rapidly.

Year-to-date index performance; Dow up 7.10%, S&P up 5.99%, and Nasdaq up 3.35% through the close on Friday.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Despite Rising Yields, the Economy is Marching Forward

marching forward

Let’s do a reality check. With tax season in full swing, markets doing their day-to-day dance and winter weather still causing havoc, it’s sometimes hard to know what’s going to happen next. In light of the events of 2020, some may be carrying added anxiety into this time of year. Spring and brighter days are on the way as the nation continues marching forward.

Because anxiety can lead to irrational money decisions, the best way to fight it is to take a deep breath, focus on your goals and then take the next step forward — no matter how small. Before long, you’ll find yourself “marching” forward with momentum and greater confidence. 

Last week

Fed officials failed to settle concerns over rising yields. Major equity indices rallied sharply into the weekend after the positive February non-farm payrolls report. The Johnson & Johnson’s vaccine approval propelled the early week rally. The rally fell as Fed chair Powell reiterated the FOMC’s view that rising price pressures are likely transitory. The rates market viewed this “do nothing” attitude as a reason to dump bonds. The tech-heavy Nasdaq losses captivated investors’ attention. This mark the third consecutive weekly decline. The growth index markedly underperformed value as that reopening rotation continued.

Week Ahead

The U.S. Senate passed the $1.9 trillion COVID-19 aid package, so the bill now will go to the House. That said, Friday’s plunge and reversal has elicited calls of surrender, but most technical metrics failed to reach such levels. The indices’ quick rebound should be a warning to the bears, but neither party seems to have the upper hand when looking at the technical charts. This fight is likely to continue, leading to elevated volatility levels. The darling high-growth names have not recovered anywhere near the extent that big tech companies have. And the easing of yields is likely needed to boost them. The weak Treasury auction two weeks ago sent yields sharply higher, so this week’s demand for government paper will be closely watched. The Federal Open Market Committee’s next policy meeting is on March 17 and will provide updated economic projections.

Despite what happens to the economy, you have the right to be confident — you have crafted a plan and I’m here for you each step of the way. As Warren Buffett famously said, “I don’t try and guess interest rates, I just buy businesses I like.” Maybe your next step is to set up some time to talk about your options for marching forward? I’d welcome that! Year-to-date the S&P 500 is up 2.29%, Dow Jones Index is up 2.91%, and the Nasdaq up 0.25%.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

Financial Advisor Erie CO focus on investments, wealth management, retirement in Boulder, Louisville, Niwot, Lafayette, Windsor, Berthoud, CO

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Rising Yields and Impact for your Money

rising yields

Treasury yields rose significantly over the course of last week. The rising rates spooked equity investors, reaching the highest levels since February 2020. And the highest one month gain since November 2016. Yields ended the week down from the high on Covid-19 vaccine optimism, a recovering U.S. economy, and massive stimulus deal near completion. For the week, major indexes finished down; Dow down 1.9%, S&P down 2.41%, and Nasdaq down 4.9%.

Rising Yields

The high yields lead to concern for inflation. With inflation, comes demand for higher yields. Higher yields are passed down to corporations by way of borrowing. If companies have debt or increase their debt, than in return, they will pay higher interest payments. Higher interest payments cut into their profits, therefore, companies report lower earnings and their overall valuation declines. Rising rates are not all doom and gloom. Fed Chairman Powell made this statement regarding higher yields last week, “statement of confidence on the part of the markets that we will have a robust and ultimate complete recovery.” Regardless, interest rates remain the focus of market stress going forward.

Week Ahead

Last week, U.S. jobless claims of 730K were lower than expected, and lower than the previous week. The Johnson & Johnson vaccination news helped travel stocks jump. The J&J vaccine approval increases the push to vaccinate 100m people in the U.S. by the end of June. Further supporting the recovery and investor perception of a likely economic boom. Housing report data was strong. The House passed President Biden’s $1.9T relief package over the weekend. Despite the rising rates, this is all positive news to support the market. For the year, Dow is up 1.06%, S&P up 1.47%, and Nasdaq up 2.36%.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

Financial Advisor Erie CO focus on investments, wealth management, retirement planning in Boulder, Louisville, Niwot, Lafayette, Windsor, Berthoud, CO

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Transfer Your Values Alongside Your Wealth

wealth and values

There’s this lingering myth of “old money families” where wealth is easily passed from generation to generation. But studies have shown wealth attrition to be more common, as bad investment decisions, mismanagement and dilution of assets between heirs eats into the family fortune.

Overcoming the challenges that plague wealth stewardship comes down to two core elements – strong communication with your next generation and putting a proper wealth transfer plan in place. We’re here to guide you.

The Family Roundtable

One of the most common barriers in wealth transfer is a lack of transparency between generations. In higher net worth families, often the older generations will shield the scope of wealth from other generations to prevent them from abusing their inheritance. But early communication with your adult children about family wealth is key.

Having us as an independent voice to shepherd the conversation can help you and your heirs talk about transfer of wealth on equal footing. It gives you a chance to discuss your financial strategies, your plan for specific family assets including the family business, and any philanthropic goals or values you would like the next generation to steward.

It also provides a forum for the next generation to discuss their own aspirations, to share any fears, and, most importantly, to feel like they play a role not just as an inheritor of the family wealth but also as an active player in the preservation of that wealth.

We can act as an independent voice for the family roundtable, someone who can guide the conversation and ensure all questions are asked and answered. We can also pinpoint challenges and help both you and your heirs come up with strategies to navigate those challenges.

Formalizing the plan

In addition to guiding the conversation, we can also play a critical role in structuring your wealth transfer plan.

We can walk you through the different vessels for protecting wealth in the transfer, advise you on the different structures for trusts, identify assets to include in your will, outline the pros and cons of transferring wealth during your lifetime versus after death, and help you balance personal preferences with tax efficient strategies.

Estate plans are far from static; the wealth transfer process is an evolving discussion, one that we can help you navigate as life events like marriages and remarriages, births of children and grandchildren, significant health issues and death, change your family and your needs.

Amidst the change, it’s good to have a constant – who better to play that role than your financial advisor?

Contact me to learn more about transferring wealth.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

How Quickly Will the Economy Recover

economic recovery

Now that the great short-squeeze has lost most of it’s air, it’s back to business as usual. The indexes shook off the weak job numbers and are looking ahead to the economy recovering and growing. Last week all indexes finished up.

Last Week

January jobs created less than 50,000 new jobs. On the positive side, unemployment fell from 6.7% to 6.3%. The number of Americans filing for unemployment also declined for the 3rd straight week. Most of the Nasdaq’s gains were attributed to good earnings reports, surpassing estimates. And the volatility index dropped back into the 20’s, calming the fears of an immediate 2021 correction. Readings from the ISM report were above 50, signaling expansion. This is good news when trying to grasp how quickly the economy will recover.

The Week Ahead

The economy is continuing to recover, both at home and abroad, as vaccination efforts spread. When a stumble comes, fiscal and monetary policy will undoubtedly offer an arm to stabilize or stand up. That remains supportive to equities, government bond yields, and credit markets. Roughly 59% of the S&P500 has reported earnings, and 81% have beaten EPS estimates. Per FactSet, the blended EPS growth rate is +1.7% y/y versus December 31’s estimate of -9.3%. For now, investors will continue economic implications of the race between widespread vaccination and virus mutation, the resumption of consumption, and the likelihood of higher prices or inflation across the economy.

Total after tax income was up 7.2% in 2020, the most in any year since 2000. Right now, there is plenty of demand for goods. Incomes and savings are up year-over-year. While production is not. It is supply that is hurting. The perfect recipe for inflation. A very real threat to the long-term health of the US economy. This we will keep an eye on. Year-to-date index performance; Dow up 1.77%, S&P up 3.48%, and Nasdaq up 7.51% through the close on Friday.

Have a safe week!

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Saving For Your Child’s Education

child's education

How and when should I start planning for my child’s education? It’s easy to shut out the noise about rising tuition costs when your kids are in grade school. But ignoring the conversation altogether does a disservice to you further down the road.

In the US, the average tuition cost at state colleges is $9,970 for state residents, and $25,620 for everyone else. Private non-profit colleges carry a heftier tab at $34,740, according to student support organization College Board.

But the price tag comes with a benefit. Research from National Bureau of Economic Research, shows that people with a post-secondary education often out-earn. Others outperform peers without some form of post-secondary education.

For many parents the question is not if you should save for your child’s education but how?

The 529 Savings Plan

529 Savings Plan are a vital tool for many parents looking to save for their child’s education. Introduced in 1996, 529 plans are state savings programs that are not taxed federally when used for “qualified education expenses”. This includes computers and, as of 2017, up to $10,000 towards K-12 tuition.

Contribution for 529 plans vary from state to state but can run as high as $380,000. However, I always try to remind clients that each individual in the US can give away up to $15,000 annually. And $30,000 for married couples, all without facing a gift tax. 529 plans also have a special rule allowing you to contribute up to five years’ worth of gifts at once.

What state can I invest in?

Given that each 529 plan is tied to a state, it can be confusing deciding which one to invest in. It’s worth pointing out that you can invest in any state 529 plan, your child doesn’t need to go to school in that state and it doesn’t have to be your own state. However, the majority of states offer a state income tax deduction or credit for residents who contribute to their own state’s plans. With that being said, different state 529 plans perform differently, which is why we work together to set up a plan that meets your educational saving strategy.

Other things to think about

Most 529 plans offer several investment options. You’re often allowed to change your investment twice per calendar year and rollover your funds to another 529 plan once per 12-month period. In addition to a general college savings plan, there’s also a prepaid option where you can purchase credits or units at certain colleges or universities at discounted prices. Fees and expenses associated with the different 529 plans are certainly something you should consider as well.

The good news is, you don’t have to navigate the world of 529 plans on your own. Let’s discuss your child’s education savings options and how to achieve the goals that will help support your child’s future.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.

Impeachment, Inauguration, and a Whole Lot More

biden

Last Week

Investors’ appetite for risk-on positions took a breather after disappointing December retail sales. Also, President elect Biden’s proposed $1.9 trillion fiscal stimulus plan fell short of expectations. Biden’s plan includes $1,400 stimulus checks to individuals, as well as, aid for state and local government. While President Trump’s impeachment in the House had little market impact. Friday’s January options expiration did exacerbate volatility ahead of the holiday weekend. Earnings season kicked off with better than expected results from financial giants J.P. Morgan, Citi, and Wells Fargo as they released loan loss reserves. The banks still warned of the economic recovery’s fragility.

On the data front, the notable miss was December retail sales falling 0.7% versus flat expectations. This registered the third consecutive monthly decline. Driven by the latest round of stimulus checks not delivered until the end of the month. Small business optimism cooled in December. As did consumer sentiment, dented by political uncertainty and feet shuffling on the fiscal stimulus front.

This Week

U.S. financial markets closed on Monday in observation of Dr. Martin Luther King Day. The 59th Presidential Inauguration on Wednesday will dominate news headlines, as President Elect Biden is sworn into office. His aim is for 100 million Americans to receive a COVID-19 vaccination in his first 100 days. Much of investors’ developing economic outlook hinges on his success.

The number of Americans filing for unemployment benefits anticipates recovery after last week’s bad figure. But still will remain uncomfortably elevated. Housing data is anticipates to come in mixed, but the sector remains strong. Friday is global PMI day, and nearly every region is anticipates a slide. Most significantly in the UK given the recently discovered mutated virus strain.

Year-to-date, the S&P 500 is up 0.32%, the Dow up 0.68% and Nasdaq up 0.86%.

Click here if you would like to learn more about your options and if we can assist you with your wealth management, investment, and retirement planning.

This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.