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Stocks Push Higher on Third-Quarter Earnings, Interest Rates News
The S&P 500 notched its eighth consecutive day of positive returns on Tuesday. The recent rally comes on the heels of relatively strong third-quarter earnings results.
Read MoreMajor Indices Down; Positive Earnings Reports
The S&P 500 index was down about 2.2% in October as major indices are coming off a third-consecutive losing month.
Read MoreMixed Earnings Reports; Key Economic Data This Week
It’s been a mixed bag in the early stages for Q3 corporate earnings reports. Key economic releases include the first estimate of third-quarter GDP on Thursday and the PCE Price Index, the Fed’s preferred measure of inflation, on Friday.
Read MoreEarnings Reports, Economic Data Lift Stocks
The S&P 500 is up about 0.50% with the Russell 2000 higher by more than 2% this week. September retail sales rose 0.7% against forecasts for a 0.3% increase. Early earnings reports have been better than expected and will be closely...
Read MoreIRS Postpones Tax-Filing and Tax-Payment Deadline for California Storm Victims
On October 16, 2023, the IRS announced another tax-filing and tax-payment deadline extension for individuals and businesses in California that were affected by last winter's storms in the state. Here's what you need to know.
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Stocks Rally; PPI Higher Than Expected, CPI on Thursday
Stocks rallied early this week while Treasury yields retreated from 16-year highs. The September Producer Price Index (PPI) increased 0.5%, against expectations of a more moderate 0.3% increase. CPI report will be released Thursday morning.
Read MoreAvantax Market Update – October 2023
Ivan Gruhl, CFA®, Co-Chief Investment Officer at Avantax recaps returns through September and discusses the Federal Reserve, the potential for a government shutdown and our outlook for the remainder of the year.
Read MoreInterest Rates Affecting Markets; Key Jobs Data Coming Friday
Treasury yields reached their highest levels since 2007 with higher interest rates the primary driver behind the recent market struggles.
Read MoreCalifornia Employers Mandated Retirement Program
During September 2023, CalSavers began issuing notices to employers who are not in compliance with the California business retirement program. If you own a company in California with at least one employee, there are some things you need to
Read MoreStocks Lower in Early Trading; New Home Sales, Durable Goods Orders Data
For September, the S&P 500 is on pace to finish lower by nearly 5% with stocks in the energy sector are on pace to be the lone gainer. New home sales and consumer confidence data this week missed consensus estimates though durable...
Read MoreIRS Stops Processing Employee Retention Credit (ERC) Claims
On September 14, 2023, the IRS announced the they will stop processing any new ERC claims immediately. The decision was made to halt the processing of new claims from now until at least the end of 2023 due to a significant number of...
Read MoreStocks Slightly Higher; Takeaways from August CPI Report
The S&P 500 was higher by about 0.50% mid-week. August CPI inflation showed core inflation (excludes food and energy) at 4.3% and headline prices up 0.6% (3.7% increase on annual basis) with oil prices the primary driver. Read More
Read MoreWhat is a Wealth Manager?
You see all of the advertisements for wealth management services, but what is the difference between a wealth manager and a financial advisor? What services do each offer, how do they differ, and what should you look for when choosing...
Read MoreStocks Lower; Federal Reserve Meeting Next Week
Global stocks traded lower this week with the S&P 500 down about 1%, the Russell 2000 (small cap index) falling about 2% and the MSCI EAFE declined by about 1%. The Federal Reserve is expected to keep rates unchanged at next...
Read MoreStocks Rally; Inflation, Employment Reports This Week
The S&P 500 (total return) was higher by nearly 2.3% as of mid-week. The second estimate of Q2 real GDP came in lower than expected at 2.1% on an annualized basis. PCE Price Index, monthly employment report later this week. Read More
Read MoreStocks ticked higher in early trading this week; Fed's model predicts 5% GDP growth in third quarter
After a significant pullback during the first half of the month, stocks ticked higher in early trading this week. The Fed’s GDPnow model projects real GDP to increase by more than 5% in the third quarter. Read More
Read MoreIRS Grants Tax Relief for Californians Affected by Storms
Feb 23, 2023 - The IRS announced that California taxpayers affected by winter storms, flooding and mudslides have an extended deadline of October 16, 2023 to file certain business and individual tax returns, including making tax payments.
Read MoreAvantax Market Update - March 2023
In an effort to consistently provide you with timely market updates, we thought you might enjoy the most recently published market commentary by our partners at Avantax.In this month’s market update video, Avantax Chief...
Read MoreDow, S&P Finish Down Month; Jobs Report This Week
The Dow Jones Industrial Average and the S&P 500 were down about 4.2% and 2.6%, respectively, in February. Thursday brings the Job Openings and Labor Turnover report. Read more.
Read MoreStocks Struggle Awaiting Key Reports
The S&P 500 was lower by about 2% on Tuesday, marking the worst day of 2023 thus far. The personal income and outlays report, a key release, is due Friday. Read more.
Read MoreStocks Unchanged, Consumer Price Index Above Expectations
Global stocks were largely unchanged last week as investors continue to decipher monetary policy and inflation. In the U.S., the S&P 500 index finished the week lower by 0.2%, but still is up 6.5% for the year. Read more.
Read MoreStocks, Bonds Trend Higher; Retail Sales Estimate Beats Expectations
The January CPI report showed hotter-than-expected inflation as stocks and bonds trended higher. The advance estimate of retail sales was stronger than expectations, showing a 3% jump. Read more.
Read MoreStocks lower; CPI Report due Tuesday
Investors continued to evaluate the implications of monetary policy and mixed corporate earnings last week. The CPI report for January will be released Tuesday. Read more.
Read MoreStocks Unchanged; Fed Chair Discusses Inflation
Stocks were relatively unchanged as investors digested corporate earnings and comments from Fed Chair Jerome Powell. Markets now are pricing in two additional 0.25% (25 basis point) interest rate hikes for the remainder of the year....
Read MoreS&P 500 Records Five-Month High, Jobs Market Remains Strong
The S&P 500 index was up 1.6% last week, a five-month high. Friday’s monthly employment report showed unemployment fell to 3.4%, the lowest level since 1969. Read more.
Read MoreMarkets See Strong Performances in January
The S&P 500 posted its best January since 2019, while the NASDAQ recorded its best January in 22 years. Market heavyweights to report fourth-quarter earnings this week. Read more.
Read MoreMid-Week Market Minute 1.25.23
Markets mixed after latest batch of corporate earnings reports. Personal consumption expenditure (PCE), a key inflation gauge for the Fed, and GDP data coming this week. Read More
Read MoreEarnings, Economic Data Sends Mixed Signals to Investors
Earnings reports from banks were mixed this week. Inflation data shows declining prices while retail sales fell more than expected. Read more.
Read MoreAvantax Planning Video: Top Tax Topics 2023
View this month's planning video as host Gene Bell discusses what’s new and important for taxpayers to be aware of as you prepare for filing season. Watch Video
Read MoreWeekly Market Insights: Inflation Cools, Stocks Warm Up
Stocks rallied last week thanks to fresh confirmation of inflation’s cooling trend and growing optimism that an inflation slowdown may provide the Fed with space to ease up on future rate hikes.The Dow Jones Industrial Average...
Read MoreEncouraging Inflation Data; Key Data and Earnings Coming This Week
The S&P 500 index rose 2.7% as investors were encouraged by indications of declining inflation. Key economic data, including a large calendar of earnings, are due this week. Read more.
Read MoreSECURE Act 2.0: An Overview
In the final days of 2022, Congress passed a new set of retirement rules designed to make it easier to contribute to retirement plans and access those funds earmarked for retirement.The law is called SECURE 2.0, and it's a follow-up to...
Read MoreMarkets are Modestly Higher Awaiting CPI Report
Technology and communications stocks were notably higher as the Nasdaq composite index rallied nearly 2%. Markets are looking toward Thursday’s CPI inflation report. Read more.
Read MorePositive Start to Year; CPI Report on Thursday
Positive returns last week for stocks and bonds as markets respond to strong labor data and lower-than-expected wage growth. Consumer prices report due Thursday. Read more.
Read MoreAvantax Market Update - January 2023
In an effort to consistently provide you with timely market updates, we thought you might enjoy the most recently published market commentary by our partners at Avantax.In this month’s market update video, Avantax Chief...
Read MoreStocks Modestly Lower; International Markets See Boost
U.S. stocks are off to a slow start in the new year while international markets get a boost from encouraging inflation data. Important U.S. jobs report will be released Friday. Read more.
Read MoreS&P 500 Closes Down Year; Employment Report on Friday
The S&P 500 finished 2022 down 18.1%, its worst performance since 2008. The monthly employment report, the first key economic report of 2023, comes out Friday, Jan. 6. Read more.
Read More2023 Mileage Rates
The standard mileage rates for 2023 have been released by the IRS. They are:Business: 65.5 cents per mileCharity: 14 cents per mileMedical/moving: 22 cents per mileIRS NoticeTo defend the mileage deduction, please follow proper...
Read MoreMarket Winds Down the Year; Data on Home Sales, Jobs This Week
With little change this week, the S&P 500 is on track for its worst year since 2008. Report shows climb in wholesale inventories, beating expectations. Home sales, jobs data due this week. Read more.
Read MoreRecession Concerns after Recent Rate Hikes
In response to higher interest rates, recessionary concerns persist. On the data front, November’s new home construction and permits continued to decline as borrowing costs continue to hamper affordability and demand. ...
Read MoreU.S. Stocks Fall Following Rate Hikes
In the U.S., the S&P 500 index ended 2.1% lower as markets digested the news from the latest Federal Reserve meeting. The Fed delivered a 50bp (0.50%) rate hike for December and raised its projection for the peak Fed funds rate by 50bp...
Read MoreEncouraging Inflation Data Ahead of Fed Announcement
The S&P 500 was more than 2% higher this week after CPI data showed headline inflation rose at a modest rate. A 50-basis-point rate hike is expected following the Fed meeting on Wednesday. Read more.
Read MoreAvantax Market Update - December 2022
In an effort to consistently provide you with timely market updates, we thought you might enjoy the most recently published market commentary by our partners at Avantax.In this month’s market update video, Avantax Chief...
Read MoreStocks Trend Down; Investors Await PPI, CPI Data
Stocks trended down the first half of the week. Ahead of December Fed meeting, inflation data (PPI, CPI) set for release Friday and next Tuesday, respectively. Read more.
Read MoreStocks Higher, Fed Expected to Slow Rate Hikes
Major global markets saw stocks move higher. With the core PCE price index, a key inflation indicator, falling in November, Fed chair indicated a possible slowing of rate hikes. Read more.
Read MoreMarkets Rally, Jobs Report Friday
S&P 500 rallied about 2% in November, overshadowed by the strong performance of international stocks. Friday will bring the widely followed jobs report for October. Read more.
Read MoreKey Inflation, Jobs Reports Due This Week
U.S. stocks traded higher in the holiday-shortened week. Key reports this week will provide clues to the status of inflation and the strength of the labor markets. Read more.
Read MoreStocks Rise, Durable Goods Report Wednesday
Stocks were higher in the holiday-shortened trading week. Investors will get a look at the durable goods report on Wednesday followed by the release of November’s FOMC meeting minutes. Read more.
Read More2023 Key Figures
2023 Key FiguresThe common tax tables have been released by the Internal Revenue Service (IRS). Please find the tables in the link.Please use these tables for your tax planning. If you have tax questions, please don't hesitate...
Read MoreStocks Remain Unchanged, Consumer Spending Data this Holiday Season
In the U.S., the S&P 500 index was down 0.6% for the week. While higher inflation might be pinching consumer wallets, recent economic data still point to a resilient consumer. Read more.
Read MoreInflation Data, Retail Sales Beat Expectations
Recent inflation reports help quell inflationary fears as markets now are pricing in a 50-basis-point rate hike for December Fed meeting. Retail sales in October beat expectations. Read more.
Read MoreAvantax Planning Video: Social Security
View this month's planning video as host, Scott Walloch, Avantax Financial Planning Consultant discusses a key piece of a comprehensive, tax-smart retirement plan – Social Security. Watch Video
Read MoreAvantax Planning Video: Social Security
View this month's planning video as host, Scott Walloch, Avantax Financial Planning Consultant discusses a key piece of a comprehensive, tax-smart retirement plan – Social Security. Watch Video
Read MoreHow You Can Purchase I Bonds Direct from the Treasury
With inflation hovering near 40-year highs, some investors are looking for investments that keep pace with rising prices. For many, a Series I Savings Bond is just the ticket. I Bonds give investors a rate of return plus inflation...
Read MoreStocks Unchanged; CPI Report on Thursday
Stocks were relatively unchanged for the week as investors digested corporate earnings alongside midterm election results. October’s CPI report due Thursday. Read more.
Read MoreYour 4% Withdrawal Strategy May Not Be Enough
YOUR 4% WITHDRAWAL STRATEGY MAY NOT BE ENOUGH Get the Tax Guidance You Need to Help Live the Retirement You Desire There’s a lot of concern among industry experts about whether the popular 4% withdrawal rule can provide enough income...
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