As seen in

The Fiduciary Advisor Report – Monday, June 1, 2020 – Park City

THE WEEK ON WALL STREET

The shortened week, which began with a powerful two-day rally of trading, was enough to drive the markets into another week of solid gains.

The Dow Jones Industrial Average rose 3.75%, while the Standard & Poor’s 500 advanced 3.01%. The Nasdaq Composite Index climbed 1.77% for the week. The MSCI EAFE Index, which tracks developed stock markets overseas, gained 6.18%.1-3

Rising Optimism

Returning from Memorial Day weekend, stocks surged on rising optimism over economic re-opening, declines in new infections, and progress in the development of a vaccine.

Stocks continued their march higher, lifted by signs that the White House and Congress may be working together to put together another stimulus package. But the momentum lost steam, in part due to news of China’s vote to override Hong Kong’s autonomy. Comments by President Trump on the last day of trading eased concerns.4,5  

Rotation in Leadership

The recovery from the March lows has been powered by large-cap growth stocks, especially the mega-cap technology names. However, this week saw new sectors leading the market higher, notably the financials and industrials, while the technology and health care sectors lagged.

This leadership rotation is being referred to by some market commentators as the “re-opening trade.”  If these sectors are to remain leaders, it may hinge on a steady economic recovery and escaping a second wave of COVID-19 infections.

pastedGraphic.png

T I P   O F   T H E   W E E K

pastedGraphic_1.png

Spammers love to create emails that mimic ones from your bank or credit card issuer. How can you be safe? Never use a “click here to log in” link. Always go directly to the website address for your bank or credit card provider and log in there.

pastedGraphic_2.png

THE WEEK AHEAD: KEY ECONOMIC DATA

Monday: Purchasing Managers Manufacturing Index (PMI). Institute for Supply Management (ISM) Manufacturing Index. 

Wednesday: Automated Data Processing (ADP) Employment Report. PMI Services Index. ISM Non-Manufacturing Index. 

Thursday: Jobless Claims.

Friday: Employment Situation Report.

Source: Econoday, May 29, 2020

The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.

THE WEEK AHEAD: COMPANIES REPORTING EARNINGS

Tuesday: Dick’s Sporting Goods (DKS), Tiffany (TIF), Zoom Video (ZM), Crowdstrike (CRWD).

Wednesday: Cloudera (CLDR), Campbell Soup (CPB). 

Thursday: Broadcom (AVGO), Docusign (DOCU), Slack Technologies (WORK).

Source: Zacks, May 29, 2020

Companies mentioned are for informational 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. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.

pastedGraphic_2.png

Q U O T E   O F   T H E   W E E K

pastedGraphic_3.png

“Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.”

THOMAS JEFFERSON

pastedGraphic_2.png

pastedGraphic_4.png

pastedGraphic_2.png

T H E   W E E K L Y   R I D D L E

pastedGraphic_5.png

Can you name two English words (longer than two letters) that both begin and end with the letters “he” (in that order)?

LAST WEEK’S RIDDLE: What animal could become extinct worldwide, yet reappear about a year later?

ANSWER: A mule, the offspring of a male donkey and a female horse.

CITATIONS:

1 – The Wall Street Journal, May 29, 2020
2 – The Wall Street Journal, May 29, 2020
3 – The Wall Street Journal, May 29, 2020
4 – CNBC.com, May 28, 2020
5 – FoxBusiness.com, May 29, 2020

CHART CITATIONS:

The Wall Street Journal, May 29, 2020
The Wall Street Journal, May 29, 2020
Treasury.gov, May 29, 2020

This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to invest directly in an index. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world’s largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions – the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This material was prepared by MarketingLibrary.Net Inc., for Mark Lund, Mark is known as a Wealth Advisor, The 401k Advisor, Investor Coach, Financial Advisor, Financial Planner, Investment Advisor and author of The Effective Investor.  Mark offers investment advisory services through Stonecreek Wealth Advisors, Inc. a fiduciary, independent, fee-only, Registered Investment Advisor firm providing investment and retirement planning for individuals and 401k consulting for small businesses.  Mark’s newsletter is called The Fiduciary Report.  Cities served in Utah are: Salt Lake County, Utah County, Park City, Salt Lake City, Murray, West Jordan, Sandy, Draper, South Jordan, Provo, Orem, Lehi, Highland, Alpine, American Fork.

The Introduction To Prosperous Investing — The First Appointment


Once you schedule your
Introduction To Prosperous Investing, we will send you a short first appointment questionnaire within 24 hours.  The first appointment questionnaire gives us a brief overview of your current situation, what your top concerns are, and will helps us better understand your investment experience.  To schedule your first appointment, simply call us at 801-545-0696 or click, Let’s Begin. 

 

Enjoy retirement as you’ve always envisioned

We’re here to help, no matter where you’re starting from!

© 2024 Stonecreek Wealth Advisors, Inc. A fiduciary, independent, fee-only, Registered Investment Advisor

Scroll to Top