{"id":3452,"date":"2019-03-18T08:27:38","date_gmt":"2019-03-18T12:27:38","guid":{"rendered":"https:\/\/109.199.100.74\/~scarletoakfs88\/?p=3452"},"modified":"2023-07-20T18:00:40","modified_gmt":"2023-07-20T22:00:40","slug":"weekly-update-stocks-post-solid-gains","status":"publish","type":"post","link":"https:\/\/scarletoakfs.com\/weekly-update-stocks-post-solid-gains\/","title":{"rendered":"Stocks Post Solid Gains"},"content":{"rendered":"

In this week\u2019s recap: the Dow, S&P, and Nasdaq all advance more than 2% in five trading sessions, while investors review tame inflation data and wait for further news in U.S.-China trade negotiations.<\/em><\/p>\n

Weekly Economic Update<\/strong><\/p>\n

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THE WEEK ON WALL STREET<\/strong><\/p>\n

The big story last week was the sudden grounding of Boeing 737 Max 8 and 9 passenger jets in dozens of countries. The financial effects of this ban could potentially impact the airline industry and segments of the economy for months.1<\/sup><\/p>\n

While the news created a headwind for the Dow Industrials, stocks managed to post solid gains for the week. The Nasdaq Composite rose 3.12%; the S&P 500, 2.46%; the Dow, 2.25%.2,3,4<\/sup><\/p>\n

Bullish sentiment was also evident overseas. Looking at the MSCI EAFE index, international stocks advanced 1.93%.5<\/sup><\/p>\n

Any companies mentioned are for illustrative purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Any investment should be consistent with your objectives, time frame and risk tolerance.<\/p>\n

TRADE<\/b>\u00a0MEETING DELAYED<\/strong><\/p>\n

Wall Street expected President Trump and Chinese President Xi to discuss trade issues this month. Thursday, Bloomberg reported that their talk had been postponed, with no firm date ahead.6 <\/sup><\/p>\n

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MUTED INFLATION<\/strong><\/p>\n

The latest Consumer Price Index showed just a 1.5% rise in overall consumer costs in the year ending in February.<\/p>\n

This number does not suggest an overheating economy. During a 60 Minutes interview last week, Federal Reserve Chairman Jerome Powell said the central bank did \u201cnot feel any hurry\u201d to make a rate move.7<\/sup><\/p>\n

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TAX TIP<\/strong><\/p>\n

If you turned 70\u00bd last year, April 1 is your final deadline to receive your initial Required Minimum Distribution (RMD) from a traditional IRA, SEP-IRA, SIMPLE IRA, or employer-sponsored retirement plan. If you take your initial RMD from these retirement accounts this year, you must receive your second RMD from them by December 31, 2019.8<\/sup><\/p>\n

Withdrawals from traditional IRAs, SEP-IRAs, and SIMPLE IRAs are taxed as ordinary income and, if taken before age 59 1\/2, may be subject to a 10% federal income tax penalty. Generally, once you reach age 70 \u00bd, you must begin taking required minimum distributions from these plans.<\/p>\n

\"\"<\/a>\u00a0<\/strong><\/p>\n

THE WEEK AHEAD: KEY ECONOMIC DATA<\/strong><\/p>\n