Market gives up some gains into the weekend. Following the historic run over the past three days, US equities are lower in early trading Friday. The United States now has more confirmed cases of COVID-19 than China, though far fewer deaths. The stimulus package is expected to pass through the House of Representatives today before heading to the White House for President Trump’s signature, though if any lawmaker objects to the special “voice vote,” a delay remains a possibility.
Will investors take weaker economic news in stride? Earlier this week, the IHS Markit Flash U.S. PMI Composite™ for March 2020 reached an all-time series low, with manufacturing and services being hindered by COVID-19 and social distancing. In our Road to Recovery Playbook, we have a factor that emphasizes whether or not there is visibility into the probability and severity of a US recession. We believe this particular economic release certainly points toward recession, but importantly, we believe that was already the expectation of most investors. In fact, on the day of this economic release, the S&P 500 Index rallied nearly 10% as investors increasingly believed Congress would pass a massive fiscal stimulus package. For more details read today’s LPL Research blog.
A bull market? The Dow gained more than 20% from the recent lows in a record three days. Many in the media have dubbed this a new bull market. At this time, the market is in the process of forming a bottom, but we’d be very careful to call this a new bull market as large bounces tend to happen, even in bear markets.
Could yields actually rise after the Fed’s bazooka? With the major stock market indexes all entering a bear market this month, it’s no surprise that stocks have stolen most of the spotlight. However, actions taken by the Federal Reserve (Fed) to support what may be considered the safest part of the bond market, US Treasuries, may actually have more lasting implications for investors’ portfolios. We look at where Treasury yields might be headed following unprecedented moves by the Fed over the past week in today’s Blog.
To some, this may hardly feel like an economy headed for a bright future. But don’t tell that to home builders. Builder confidence in August jumped to an eye-popping 78 in August, according to the Housing Market Index courtesy of the National Association of Home Builders. To put that number in perspective, anything over 50 … Continue reading “Home Builders Confident in Economic Rebound”
When it comes to retirement, some women face obstacles that can make saving for retirement a challenge. Women typically earn less than their male counterparts and often take time out of the workforce to care for children or other family members. Added to the fact that women typically live longer than men, retirement money for … Continue reading “Women Facing and Conquering Retirement Challenges”
Football is back, which means Summer is coming to a close, days will get shorter, and sweaters will soon be in play. This year, there was no pre-season, so professional football started in September, which coincidentally, is a perennial month for stock market volatility.1
Roth IRA Conversion decisions have attracted retirement savers since their introduction in 1998. They offer the potential for tax-free retirement income, provided Internal Revenue Service rules are followed.
The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate strategizing for married LGBTQ+ couples. If you are filing a joint tax return for this year or thinking about updating estate strategies, here are some important things to remember.
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