U.S. Economy Shrinks at Record 32.9% Pace in Second Quarter: Gross domestic product shrank 9.5% in the second quarter from the first, a drop that equals an annualized pace of 32.9%, the Commerce Department’s initial estimate showed on Thursday. That is the steepest annualized decline in quarterly records dating back to 1947, and compares with…
DetailsINVESTMENT UPDATE CALL: Members of our Investment Committee held an investment update call on July 23, with a closer look at our latest thinking, outlook, and changes we’ve implemented. Click Here to Listen. REVISITING RMD SUSPENSIONS WITHIN THE CARES ACT: Due to this massive piece of legislation not being ratified until the end of…
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THE WEEK ON WALL STREET: Last week, the the Standard & Poor’s 500 rose 1.27%. The MSCI ACWI Index, a broad measure of equity-market performance throughout the world, also rose 1.19%. Additionally, the Barclays Global Bond Index also rose 0.25%. QUARTERLY MARKET COMMENTARY: In case you missed last week’s quarterly commentary from our Investment Committee,…
DetailsTHE WEEK ON WALL STREET: Last week, the Standard & Poor’s 500 dropped 2.86%. The MSCI ACWI Index, a broad measure of equity-market performance throughout the world, also fell 2.06%. Meanwhile, the Barclays Global Bond Index managed to rise 0.16%. REVISITING RMD SUSPENSIONS WITHIN THE CARES ACT: Because this massive piece of legislation was not…
DetailsTHE WEEK ON WALL STREET: Last week, the the Standard & Poor’s 500 rose 1.88%. The MSCI ACWI Index, a broad measure of equity-market performance throughout the world advanced 2.01%. Meanwhile, the Barclays Global Bond Index was near break even for the week at -0.03%. COVID RECOVERY TRACKER: Oxford Economics recently created a weekly…
DetailsTHE WEEK ON WALL STREET: Last week, the Standard & Poor’s 500 dropped 4.8%. The MSCI ACWI Index, a broad measure of equity-market performance throughout the world, also dipped 4.13%. Meanwhile, the AGG rose 0.6%. THE SPIKE IN COVID-19 CASES: New coronavirus infections are rising in at least 20 states, even as restrictions on…
DetailsU.S. CITIES STILL RECOVERING FROM LOCKDOWN: The reopening of America was always going to be fraught with competing fears of new virus outbreaks and an economic meltdown. Now cities across the nation, from New York to Chicago to Los Angeles, are reeling from unrest that could worsen both. Violence erupted in dozens of cities following…
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THE WEEK ON WALL STREET: Upbeat comments by the Federal Reserve Chairman and more signs of an economic turnaround combined to help fuel a powerful rally in the stock market last week. Dow Jones Industrial Average rose 3.29% Standard & Poor’s 500 advanced 3.20% MSCI EAFE index gained 3.87%.(1) STOCKS CHEER FED SUPPORT: The…
DetailsTo say the least, COVID-19 has been a severe medical, and now economic, storm that has and will result in much human loss and suffering. No one knows what the future holds for certain, but we remain hopeful overall and choose to focus on what we can control. At our core, we are your guides…
DetailsCARES ACT and ITS IMPACT ON RMDs: As you may know, the recently enacted “Coronavirus Aid, Relief, and Economic Security Act” or CARES Act included a provision to suspend required minimum distributions from IRA’s also known as an ‘RMD’ in 2020 for everyone. An RMD is typically required for people with IRA’s who are age…
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