“Live out of your imagination, not your history.” – Dr. Stephen Covey
Applying for a mortgage online could save you some money in terms of closing costs, origination fees and interest rates as the online application cost is less for the lender to bear.
A supermarket sign says you can buy energy bars at $12 a dozen. At that price, how much would it cost you to buy 100 energy bars?
LAST WEEK’S RIDDLE
A family has a mother, father, and four daughters. Each daughter has one brother. How many people are in the family?
Seven people – each of the daughters have one brother, there is not one brother for each daughter.
THE WEEK ON WALL STREET
Stocks were mixed last week as worries that stretched from Washington D.C., where prospects of a new fiscal stimulus bill dimmed, to Europe, which saw an increase of new COVID-19 cases.
The Dow Jones Industrial Average declined 1.75%, while the Standard & Poor’s 500 fell 0.63%. The Nasdaq Composite index gained 1.11% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slumped 4.20%.1-3
Late Friday Rally Pares Losses
Dwindling chances of a federal fiscal stimulus, pre-election jitters, and worries over a second wave of coronavirus infections in Europe weighed heavily on investors.
The weakness in technology persisted. The Department of Justice proposal to curb legal protections for internet companies and require them to take greater responsibility for the content on their sites adding to that sector’s woes.4
Energy stocks were also hit hard on concerns of a slowdown in economic growth hurting oil demand.
The week wasn’t entirely absent of good news. Investors focused on reports of new progress in developing a vaccine and the passage in the House of Representatives of a bipartisan continuing resolution bill to fund the government through December 11th.5
Absent any apparent catalyst, stocks rallied in the final days of the week, cutting losses on major indices and powering the NASDAQ Composite to a weekly gain.
Fiscal Stimulus on Life Support
Market hopes for an additional fiscal stimulus bill, which were already fading, suffered another setback as events in Washington, D.C., appeared to make it more unlikely that lawmakers and the president could come together to fashion a compromise spending bill. Many economists and market observers, along with Federal Reserve Chairman Jerome Powell, believe that further spending may be needed to maintain the momentum of the current economic recovery.
THE WEEK AHEAD: KEY ECONOMIC DATA
Tuesday: Consumer Confidence Index.
Wednesday: ADP (Automated Data Processing) Report. Gross Domestic Product (GDP).
Thursday: Jobless Claims.
Friday: Employment Situation. Factory Orders.
Source: Econoday, September 25, 2020
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: Micron Technologies (MU), McCormick (MKC).
Thursday: Constellation Brands (STZ), Pepsico (PEP), Conagra Brands (CAG).
Source: Zacks, September 25, 2020 Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. 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.
Please feel free to forward this article to family, friends or colleagues.
If you would like us to add them to our distribution list, please reply with their address.
We will contact them first and request their permission to add them to our list
Newport Advisory, LLC., A California Limited Liability Company. Investment Advisory Services offered
through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Registered
Principal,Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member
FINRA/SIPC. Newport Advisory and Cambridge are not affiliated. CA Insurance License 0H6512
Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. 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.
The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.
The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.
The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. 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 technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.
U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid. 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.
International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.
Please consult your financial professional for additional information.
This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security.
Copyright 2020 FMG Suite.
1. The Wall Street Journal, September 25, 2020
2. The Wall Street Journal, September 25, 2020
3. The Wall Street Journal, September 25, 2020
4. The Wall Street Journal September 23, 2020
5. CNN.com, September 22, 2020
The Wall Street Journal, September 25, 2020
The Wall Street Journal, September 25, 2020
treasury.gov, September 25, 2020