Stocks are drifting again on Wall Street Friday, following a mixed set of data on the global economy, as a record-breaking but wishy-washy week of trading closes out. It followed up on losses across Europe after reports there indicated a slowdown in its economies.
Many advisors, new and seasoned, are looking for a mentor to help guide them into the next step of their career. No matter how much success you’ve achieved, there is always potential to reach the next level in your expertise.
At 10.2%, the unemployment rate last month remained near the worst levels reached during and shortly after the Great Recession. Last month, the number of unemployed people who have lost their jobs permanently reached 2.9 million.
It took a while, but the S&P 500 Index finally made a new all-time high, coming all the way back from the vicious 34% bear market in less than six months. The bear officially lasted one month and took five months to recover the losses. Usually when there’s a bear market during a recession, it takes 30 months to recover those loses.
At the end of July, the American Association of Individual Investors announced a four-year low in the Investor Sentiment Survey. This marks a jump in optimism when compared with the end-of-July survey, which ranked among the 40 lowest readings ever recorded by the AAII Sentiment Survey. “Bullish sentiment has been below average since mid-March when the…
Apple has become the first U.S. company to boast a market value of $2 trillion as technology continues to reshape a world where smartphones are like appendages and digital services are like instruments orchestrating people’s lives.
The U.S. central bank has found in a recent study that the rising monopolistic market power of dominant American companies is leading to an array of economic ills, such as income and wealth inequality. The 41-page report, titled ” Market Power, Inequality, and Financial Instability,” spells out where companies are impacting the economy.
Only one in five of the 143 largest statewide public retirement systems in the U.S. are resilient, a new analysis published by the bipartisan nonprofit Equable Institute shows. And five states California, Illinois, New Jersey, Pennsylvania and Texas account for more than 50 percent of unfunded liabilities.
The U.S. and global economies have shown some improvements since the spring, when business lockdowns were widespread, but they are nowhere close to fully healed. The Federal Reserve and the U.S. government get a lot of the credit for the rally after pouring trillions of dollars into the economy.
LPL Financial, a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that the firm has partnered with Slack, a leading channel-based messaging platform, to give advisors and their teams new tools to communicate in real time.
Corporate America delivered on expectations and then some during a second quarter earnings season that some are calling the biggest upside surprise ever. We recap the results, share five key takeaways for investors, and discuss our near-term outlook for stocks with the S&P 500 Index near record highs.
Wall Street is close to a record on Monday, as investors are apparently unfazed by the collapsed stimulus negotiations in Washington, renewed US-China tensions and the ongoing pandemic. By some definitions, this would ring in the end of the 2020 pandemic bear market, making it the shortest in history at just 1.1 months.
Half of all Americans would experience financial hardship if they had to cover an emergency expense of $1,000 or less in the next 30 days, according to a new Charles Schwab Financial Literacy Survey conducted by The Harris Poll. Nearly two-thirds of U.S. adults chose financial education as the most important supplemental graduation requirement.
Interest rates recently hit all-time lows as the Federal Reserve made cuts to mitigate the financial impacts of COVID-19. If your client is a homeowner with a monthly mortgage payment, they might be wondering if now is a good time to refinance.
There is a sufficient amount of coins out there– $47.8 billion worth, according to the U.S. Department of the Treasury– but as many Americans work and shop from home, they sit in jars and cans, effectively out of circulation.
The Securities and Exchange Commission today charged former Hertz CEO and Chairman Mark Frissora with aiding and abetting the company in its filing of inaccurate financial statements and disclosures. Frissora has agreed to settle the charges and repay Hertz nearly $2 million in incentive-based compensation.
Independent wealth management advisor Jordan Schwartz of Strategic Wealth Designers joined the newscast to help make sense of the justified pricing in the stock market. The Fed continues to pump money into the stock market as they have shown they are willing to do whatever it takes to keep some sense of balance and order in a world with little of either, “…
Former Federal Reserve Chair Janet Yellen was among a team of advisers who briefed Joe Biden on Thursday about the economic fallout from the coronavirus. Kamala Harris, participated in the briefing from separate, socially distanced tables at a hotel in Wilmington, Delaware.
Released today, the July 2020 LegalShield Law Index, a suite of leading indicators of the economic and financial status of U.S. households and small business, saw its Consumer Financial Stress Index remain little changed in July, despite widespread job loss since February, as Americans awaited the outcome of negotiations to extend federal fiscal support.
A top official at the Federal Reserve criticized the decision by many states to reopen businesses this spring before getting the virus fully under control, and said those choices have hindered an economic recovery in the U.S.. Fed Chair Jerome Powell has emphasized generally that recovery from the recession depends on conquering the pandemic.
Politics has less of an effect on the economy and, therefore, the markets than we think. Since 1900, according to Bespoke Research, the average gain for the Dow Jones Industrial Average has been 4.8 percent per year, reflecting the economy as a whole. Decade after decade, markets have moved ahead as the economy grew, regardless of the party in power.
Family offices’ venture portfolios returned an average of 14% in the 12 months prior to the survey. Fund investments generated 16% returns and direct deals where family offices had minority stakes returned 17%. These returns met or exceeded expectations for more than 85% of respondents.
The Securities and Exchange Commission announced Monday that Interactive Brokers LLC will pay an $11.5 million penalty to settle charges it repeatedly failed to file Suspicious Activity Reports (SARs) for U.S. microcap securities trades it executed on behalf of its customers.
Any way we look at it, the U.S. faces a dire and desperate situation. If we look at the percentage change in real GDP from a year ago, U.S. numbers shrank by 9.5% in the second quarter of 2020 compared to the second quarter of 2019.. Even as quarantine restrictions have been lifted, we are not seeing the economy bounce back.
The stock market continues to do quite well. The S&P 500 Index, which has risen four straight months, has returned 5% so far in 2020, despite probably the worst pandemic in the United States in 100 years and one of the sharpest economic contractions since the Great Depression. How does that makes sense?
Automated transfers, such as 401(k) contributions from your paycheck, can help people save with little effort. But if your clients are looking for more control, think about making manual transfers to a savings account as well.
President Donald Trump isn’t telling the full story when it comes to executive orders on coronavirus relief payments and health care. Over the weekend, the president suggested that his move to bypass Congress with executive action calling for up to $400 in weekly unemployment assistance would mean immediate cash in hand for laid-off Americans.
Financial abuse occurs in 99% of all abusive relationships, making this one of the most important types of abuse to watch for. Advisors have a special ability – and therefore a special responsibility – to detect and combat financial abuse.
The U.S. Census Bureau continues to gather information using the Household Pulse Survey and has found that during the pandemic, 51.1% of American adults live in households which have experienced a loss in employment income. Additionally, 35.2% of American adults expect to experience a loss in employment income, according to the Household Pulse Survey…
As the US entered August, the economic damage from the necessary social distancing and closure protocols to contain the spread of the coronavirus disease began to hit. The US economy is suffering an even bigger shock than after the 9/ 11 terror attacks or the 2008 financial crisis.
Blackstone today announced that private equity funds managed by Blackstone have reached a definitive agreement to acquire Ancestry from Silver Lake, GIC, Spectrum Equity, Permira, and other equityholders for a total enterprise value of $4.7 billion.
Financial Planning Association (FPA) Knowledge Circles are gathering places for like-minded planners who want to engage in dialogue about best practices and trends on particular topics. The Knowledge Circles, very much like “sections” in law or business, allow for more in-depth examination of issues, financial planning resources, regulations, etc.
While debates over masks and whether to reopen have dominated headlines, more than three-quarters of respondents support enacting state laws to require mask wearing in public at all times. And nearly 60 percent said they would support a nationwide order making it mandatory to shelter at home for two weeks.
Anxiety about long-term retirement savings is up according to a new survey from Schwab Retirement Plan Services, and so is participant engagement. On average, these 401 participants believe they need to save $1.9 million for retirement, an increase of 12% from the $1.7 million reported in last year’ s survey.
Stocks are off to a weak start on Wall Street as investors keep a close eye on talks in Congress over the next installment of badly needed relief for people whose livelihoods and businesses were impacted by coronavirus lockdowns. Shares were mixed in early European trading on Tuesday after a strong day of gains in Asia, while U.S. futures edged lower.
Negotiators on a huge coronavirus relief bill reported slight progress after talks resumed Monday afternoon in the Capitol, with issues like food for the poor and aid to schools struggling to reopen safely assuming a higher profile in the talks. Multiple obstacles remain, including an impasse so far on extending a $600-per-week pandemic jobless benefit.
The eight pillars of trust provide the answer to every organizational or leadership problem, said a keynote speaker at the Million Dollar Round Table’s virtual annual event.
A average of the more than 5 million loans that have been approved is $102,000. Not a lot of Fortune 500 companies that are going to make hay with that one. Trump donors receinved $273 million in loans, according to an Associated Press analysis of the SBA list. Sounds like a lot of money, right? Not really.
This week, the Biden campaign released its fourth and final plank in the former Vice President’s package of economic ideas: a plan for racial economic equity. But contained in the plan was a less-flashy proposal: asking the Federal Reserve to explicitly take race into account when it sets policy.
Beyond the headline numbers, state-level data continues to improve. Case growth in most of the worst affected states, including California, Arizona, Florida, and Texas, appears to have peaked, as people and governments there have started to reimpose social distancing and other restrictions.
The Securities and Exchange Commission charged former Georgia state legislator and former member of the Georgia Board of Regents Clarence Dean Alford with defrauding at least 100 investors in his now-bankrupt energy development company, Allied Energy Services.
Going into 2020, Americans were experiencing record high levels of personal financial satisfaction. Though the PFSi has experienced a record decline, its current value of 15.2 is still 55.5 points above its all-time low of -40.3 set in Q3 2011. Back then, Americans were still emerging from the lingering impact of the Great Recession.
Advisors say they sell equity positions to generate cash (44%) and allocate more heavily to dividend paying stocks (45%) to bridge the shortfall in retirement income brought about by low interest rates. Many also indicated they have invested client assets in riskier fixed income instruments in a search for yield.
With the focus on the COVID-19 pandemic, the coming hurricane and wildfire season is likely not on many Americans’ radars right now. However, with many people in a financially precarious position over the last couple of months, it’s more important than ever to be prepared for a natural disaster.
Global markets and U.S. stock futures declined Thursday after the Federal Reserve warned the coronavirus pandemic might threaten the modest economic recovery and kept interest rates near zero. Shanghai, Tokyo and Hong Kong retreated after spending part of the day in positive territory.
As the headlines have begun to point out the decline of the dollar in recent months, worries have started to rise. In fact, if you look at the chart for the most recent couple of months, you can see where these headlines are coming from.
Stocks are rising on Wall Street Wednesday ahead of a Federal Reserve announcement where investors expect the central bank to keep the accelerator floored on its aid for the economy. The S&P 500 was 0.8% higher in midday trading, while Treasury yields were holding steady and gold touched another record high.
Financial advisors who are not fully embracing digital marketing in 2020 are at risk of losing clients and unable to take advantage of the surge in investors looking for advice during the ongoing COVID-19 pandemic and massive market volatility, according to a new study.
The Securities and Exchange Commission today charged Houston-based VALIC Financial Advisors Inc. in a pair of actions for failing to disclose to teachers and other investors practices that generated millions of dollars in fees and other financial benefits for VFA.
The Securities and Exchange Commission charged Trustify Inc., an online marketplace purportedly designed to connect customers to a network of private investigators, and its founder and CEO Daniel Boice with fraudulently offering and selling over $18.5 million of securities to more than 90 corporate and individual investors.
Even as new daily infections remain near record highs and US-China tensions ratchet higher, S&P 500 stocks have been marginally higher year to date—and barely below their all-time highs. Market participants haven’t seemed too concerned about stock valuations, which are as high as they’ve been since the technology bubble.
Stocks are ticking higher in early Monday trading on Wall Street, while gold rushes to a record at the start of a week packed with potentially market-moving events. This week’ s headline event may be a two-day meeting for the Federal Reserve on interest rates that begins Tuesday.
It’s essential for long-term investors to look beyond 2020, worry less about the value of the stock market next month and consider how investors will fare over the coming decade. The first half of 2020 saw one the worst quarters in U.S. stock market history followed by one of the best.
Understanding the major drivers of the government’s revenue is critical to an informed discussion and understanding of the impending tax increases, and why some think tax rates could go up to wartime levels.
Treasury yields were holding relatively steady, but they remain close to their lowest levels since April. But other risks are also bubbling up, headlined by Friday’s worsening relations between the United States and China. Extra benefits for those out-of-work Americans from the federal government are set to expire soon, causing further worries.
Judy Shelton, a critic of U.S. Federal Reserve’s expansionist monetary policies and low interest rates, is now one step closer to joining its board of directors. Shelton believes that increasing the supply of money faster than domestic economic growth will lead to inflation and credit bubbles akin to the 2008 financial meltdown.
We’re experiencing a period of upheaval in the world today, which has also had an impact on the economy and markets. Given the spike in volatility and uncertainty we’re seeing in the broader economy, it may be time to step back and carefully review your financial life.
The worsening COVID pandemic risks choking off the U.S. economy’s fragile recovery and turn what some investors hoped would be a sprint back to normal into a long hard slog. The U.S. has already spent $3 trillion propping up the economy since the pandemic struck in March. Still, new jobless claims have surpassed 1 million.
Stock indexes are mostly higher on Wall Street in choppy trading Wednesday afternoon as investors size up a mix of company earnings reports and another flare-up in tensions between Washington and Beijing. “It’ s a relatively muted day in terms of volatility,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.
