This week on “Money Talks,” Troy Harmon, CFA, CVA, is joined by Principal Jennifer Thomas, CFP® and Managing Associate K.C. Smith, CFP® to discuss the week’s economic news, including Consumer Confidence, home prices and durable goods orders, along with the week’s market moves. K.C. and Jennifer delve into a case study about tax loss selling and how selling some positions in your portfolio can help your tax situation. The experts also answer listeners’ questions on Cisco Systems, Bristol-Myers Squibb, W.W. Grainger and 3M. They also address what an investor should do with a non-deductible traditional IRA and what the options are with a UGMA account.
Principal Jennifer Thomas, CFP® and Managing Associate K.C. Smith, CFP® discuss a case study about tax loss selling, and how selling some positions in your portfolio can help your tax situation.
Stocks stepped up on Monday despite West Texas Intermediate crude falling 0.7% to settle at $50.52 a barrel. Indices ended trading in the red zone on Tuesday on news that consumer sentiment dipped in October. The Conference Board Consumer Confidence Index declined 4.9 points to 98.6, a three-month low. Trading closed with mixed moves on Wednesday. The Dow ended in the green while the S&P 500 and NASDAQ shed some points. Moves were mixed on a variety of earnings releases. Meanwhile, crude oil fell to a three-week low level, with West Texas Intermediate crude slipping by 1.66%, settling at $49.13 a barrel. The Energy Information Administration data showed a decrease of 600,000 domestic barrels last week versus expectations of a 400,000 increase. Looking elsewhere, new home sales ticked up in September, as Commerce Department figures showed sales climbed 3.1% last month to an annual rate of 593,000. On Thursday, stocks swung between gains and losses throughout the day. The markets also saw a selloff in government bonds, which kept investors on edge. In economic news, new orders for durable goods fell in September led by a sizable drop in defense orders. Indices closed again in red territory on Friday with stocks retreating from early session highs on a variety of economic news. Crude oil traded lower on mixed quarterly details from large oil companies. Commerce Department data showed the U.S. economy grew at an annualized rate of 2.9% in the third quarter, which marked the fastest gross domestic product growth in two years. Elsewhere, a second measure of consumer confidence dipped in October. In a final reading, the University of Michigan’s Consumer Sentiment report hit 87.2, down from 91.2 in September.
Our experts answer listeners’ questions on one person’s “10-year stock picks,” Cisco Systems, Bristol-Myers Squibb, and W.W. Grainger. They also discuss the Industrials sector and holding 3M. Jennifer and K.C. discuss what an investor should do with a non-deductible traditional IRA and what the options are with a UGMA account.
Indices closed in red territory on Friday. Brands retreated from early session heights on a variety of economic news. Crude oil traded lower on mixed quarterly details from the likes of Chevron and Exxon.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains Medicare and the current open enrollment season. Read the Article
There are substantial penalties if you fail to file a correct 1099-MISC for independent contractors by the due date. We explain in this week’s Business Tip.
Medicare Open Enrollment Period is Oct. 15 through Dec. 7. Learn what you can change and what to consider in this week’s Insurance Tip.
Trading closed with mixed moves on Wednesday. The Dow ended in the green while the S&P 500 and Nasdaq shed some points. Moves were mixed on a variety of economic news. Boeing tacked on 5% to lead advancers on the Dow, while energy brands such as Royal Dutch Shell, Chevron, and PetroChina led decliners.
The status of your non-U.S. citizen spouse dictates how you are taxed. Learn more in this week’s Tax Tip.