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Financial and economic analysis, national and global impacts on the market, and links to the latest news from McDaniel Wealth Management. Our goal is to keep you informed with weekly updates on changing conditions and our perspective on what’s moving the market. 

Monday, November 27, 2023

The Markets   In November, investors were more optimistic than consumers.   At the start of November, investors were decidedly bearish. During the week of November 1, the AAII Investor Sentiment Survey found that about 50...

Monday, November 27, 2023

HAPPY FALL! It is our mission at McDaniel Wealth Management to equip you with the knowledge you need to make the best financial decisions for you and your family.  Check out this season's newsletter for tax tips, updates from the...

Tuesday, November 21, 2023

The Markets   Is it done? (We’re not talking about the turkey.)   Last week, investors enthusiastically embraced the idea that the Federal Reserve (Fed) could be done raising rates – and that it might even begin...

Monday, November 13, 2023

The Markets   Earnings grew in the third quarter.   Four times a year, during earnings season, publicly traded companies report how well they performed during the previous quarter. The strength of corporate earnings –...

Tuesday, November 7, 2023

The Internal Revenue Service has released new limits for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels. Individual Retirement...

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Monday, November 6, 2023

The Markets   Will there be a year-end rally?   Last week, there was a lot of speculation about whether the United States will see a year-end stock market rally. Some say yes, and some say no.   For example, at Bank of...

Monday, October 30, 2023

The Social Security Administration has announced a 3.2% Cost of Living Adjustment (COLA) for 2024. This adjustment means the average Social Security retiree beneficiary will see their monthly check increase by about $57 to $1,849,...

Monday, October 30, 2023

The Markets   The Mark Twain Effect?   Historically, economic theory was based on the idea that financial decisions were grounded in rational thought. In recent years, behavioral economists have recognized that people...

Monday, October 23, 2023

The Markets   Stay calm and consider the big picture.   Today, investors have a myriad of worries that are creating tremendous uncertainty. A September Investopedia survey found investors are concerned about how their...

Monday, October 16, 2023

The Markets   Markets were resilient.   Last week, investors had a lot to process – geopolitics, inflation, consumer sentiment, the possibility of government shutdown – and markets were volatile. Toward the end of...

Monday, October 9, 2023

The Markets   Financial markets lost ground during the third quarter.   While year-to-date returns for the Standard & Poor’s (S&P) 500 Index remain above the historic average, which was 10.24 percent, including...

Monday, October 2, 2023

The Markets   Inflation is slowing but consumers aren’t feeling it.   In August, for the first time in two years, inflation (excluding volatile food and energy costs) dropped below four percent. Last week, one of the...

Monday, September 25, 2023

  The Markets   How high will they go?   Just as the market anticipated, the Federal Reserve Open Market Committee (FOMC) chose not to raise interest rates last week. However, Fed officials made it clear another rate...

Thursday, September 21, 2023

Medicare’s annual open enrollment period begins October 15 and ends December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. Any changes to your plan will go into...

Monday, September 18, 2023

  The Markets   Adding new ingredients to the economic blender.   The performance of United States economy in 2023 has been as unexpected as a lentil-avocado-cinnamon smoothie – a tasty surprise. Last week,...

Monday, September 11, 2023

The Markets   All the work, work, work.   2023 has been a remarkable year so far. It has, “confounded economists, humbled forecasters, and rewarded investors. Despite a rapid rise in interest rates, the U.S. economy...

Tuesday, September 5, 2023

The Markets   Lowering inflation.   If you’ve ever waited in traffic while the center section of a bridge lifts to allow ships and sailboats to pass underneath, you may have noticed the enormous counterweight that...

Monday, August 28, 2023

The Markets   Becalmed.   The Chinese government’s zero-COVID policy took the wind from the sails of its economy. When the government finally ended the policy earlier this year, many economists anticipated that pent-up...

Monday, August 21, 2023

The Markets   Higher bond yields may be good for income investors – and not so good for stock markets.   After more than a decade of near-zero interest rates, the “free money” era – a time when people...

Monday, August 14, 2023

The Markets   Consumer sentiment is a lagging indicator. It’s also a contrarian indicator.   After rising sharply in June and July, consumer sentiment leveled off this month. The preliminary August reading for the...

Monday, August 7, 2023

  The Markets   An unwelcome surprise.   Last week, Fitch Ratings startled markets by lowering the credit rating of United States Treasuries from AAA to AA+. It was the second rating agency to downgrade U.S. Treasuries;...

Monday, July 31, 2023

The Markets   Central bank palooza!   While music lovers attended concerts and festivals across the United States, central banks had a lollapalooza of their own. The U.S. Federal Reserve (Fed) led things off last Wednesday,...

Monday, July 24, 2023

The Markets Better than expected. In January of this year, the Bloomberg’s MLIV Pulse survey collected and shared investors’ expectations for stock markets. Survey participants were generally a gloomy group....

Monday, July 17, 2023

The Markets Disinflation was in the air! To the great relief of the Federal Reserve, the American economy has been experiencing “disinflation,” which is a slowdown in the rate of inflation. For example, last week...

Monday, July 10, 2023

The Markets Markets are playing Federal Reserve (Fed) Clue. Last week, investors parsed the monthly Employment Situation Summary from the Bureau of Labor Statistics for clues about whether the Fed will raise the federal funds...

Monday, July 3, 2023

The Markets Showing remarkable resilience. Throughout the first half of 2023, the U.S. economy and financial markets proved to be resilient – and so did investors. U.S. stock markets moved higher amid enthusiasm for...

Monday, June 26, 2023

 The Markets The Artificial Intelligence (AI) Express is traveling fast. Investors are enthusiastic about AI. Late last year, an AI research lab introduced a chatbot that could answer questions – and people were...

Monday, June 19, 2023

The Markets Rebalancing ahead! There is one decision all investors should make: how to allocate the money they’re investing. Asset allocation decisions are usually based on a myriad of factors: expected returns,...

Monday, June 12, 2023

The Markets Leaping over the wall of worry. The “wall of worry” is an obstacle – or set of obstacles – that investors face. This year, the wall reached a considerable height as inflation, the War in...

Monday, June 5, 2023

Summer’s here, and the time is right for vacations, outdoor activities, and fun. It’s also a good time to consider a few financial matters. Here are some questions to ask yourself mid-year.Goals still the same for 2023? Has...

Monday, June 5, 2023

The Markets As Gomer Pyle used to say, “Surprise, surprise, surprise!” Gomer Pyle USMC was a popular American sitcom in the 1960s. It focused on a naïve, do-gooding auto mechanic from Mayberry RFD who joined...

Friday, June 2, 2023

It’s FAFSA time! As your student prepares for college, they can now fill out a Free Application for Federal Student Aid, or FAFSA, for the upcoming school year.Even if your student won’t require help from the government,...

Tuesday, May 30, 2023

The Markets It’s a three-ring circus! For centuries people have embraced the circus. Enjoying the sticky fluff of cotton candy while elephants, clowns and trapeze artists perform in the spotlights. Merriam...

Wednesday, May 24, 2023

It is our mission at McDaniel Wealth Management to equip you with the knowledge you need to make the best financial decisions for you and your family.  Check out this season's newsletter for tax tips, updates from the firm, and a...

Monday, May 22, 2023

The Markets Investors aren’t happy, but stocks are up. If you ever participated in a fantasy football league, you may have experienced a run on a position during your draft. One person picks a kicker or defense...

Monday, May 15, 2023

The Markets Brace yourself! The debt ceiling standoff continues. Consumers aren’t optimistic. The Consumer Sentiment Index fell to a six-month low in May, dropping 9.1 percent month-to-month. Participants in the...

Monday, May 8, 2023

The Markets The labor market just keeps growing…and growing… Last week, the April employment report for the United States arrived. It showed that unemployment dropped to the lowest level in more than 50 years...

Monday, May 1, 2023

The Markets Get real! Despite more than a year of aggressive Federal Reserve rate increases, the United States economy is still growing, albeit more slowly. U.S. gross domestic product (GDP) – the value of all goods and...

Monday, April 24, 2023

The Markets Better than expected. It’s earnings season – the time when publicly traded companies report on how profitable they were during the first quarter of 2023. So far, reports suggest that companies listed...

Monday, April 17, 2023

The Markets Keep your eye on the big picture. Last week, there was nothing too surprising in economic and financial news. Inflation eased, as expected, although it remained above the Federal Reserve (Fed)’s target...

Monday, April 10, 2023

The Markets Ambiguous images. Some illustrations are optical illusions. When two people view the picture, they may see completely different images. A good example is Rubin’s Vase. One viewer may see a vase, while...

Monday, April 3, 2023

The Markets Perhaps we should call this a pushmi-pullyu market. The first quarter of 2023 brought Dr. Dolittle’s pushmi-pullyu – the rarest animal of all – to mind. It is the offspring of goat-antelopes and...

Monday, March 27, 2023

With so much of our lives spent online, it’s sad to think of losing the important stuff. Pictures of your kids and grandkids; Personal items like cherished emails, texts, and voicemails from loved ones; Or the notes for that book...

Monday, March 27, 2023

The Markets What’s your jam? When you think of fun, are you running an Arctic marathon? Biking to your favorite burger place? Gaming with friends online? Each has inherent risk: Polar bears and hypothermia, traffic and...

Monday, March 20, 2023

The Markets Unknowns and uncertainty. Financial markets were volatile last week as investors parsed the risks around bank closures, central banks offered additional protections for depositors, and regulators took a...

Wednesday, March 15, 2023

We wanted to share a quick update in light of the recent news about Silicon Valley Bank (SVB) and discuss our thoughts on its impact on the markets and future Fed moves. What happened?Regulators seized the assets of SVB on Friday,...

Monday, March 13, 2023

The Markets Thrown for a loop. Early last week, Federal Reserve Chair Jerome Powell told Congress the Fed is committed to bringing inflation down to 2 percent. If economic data continues to come in hot, he said, then...

Monday, March 6, 2023

 The Markets Sibling discord. Stocks and bonds are two of the better-known asset classes in the family of potential investments. Last week, they were in opposition. Bond yields have been moving higher in...

Monday, February 27, 2023

The Markets Is it good news or bad news? The answer depends on your perspective. Last week, we learned that: Consumer sentiment is at its highest level in more than a year. Consumers are feeling better about current...

Thursday, February 23, 2023

The tax deadline is quickly approaching and we are ready to prepare your tax return, but we'll need your 2022 tax information by March 15, 2023, in order to ensure that your 2022 tax return will be successfully filed before the...

Tuesday, February 21, 2023

The Markets Brace for a bumpy ride. There were some unwelcome surprises in last week’s economic data that caused markets to reassess expectations for 2023. For example: Inflation didn’t fall as fast as...

Monday, February 13, 2023

 The Markets This time may be different...or it may not be. There has been a lot of speculation about how the Federal Reserve’s policies will affect the United States economy. Economists have differing opinions...

Monday, February 6, 2023

The Markets What do Samuel Clemens (a.k.a. Mark Twain) and the current economic expansion have in common? Author and humorist Twain was prematurely reported to be dead. It first happened in 1897. Twain was on a speaking tour...

Monday, February 6, 2023

All LLCs doing business in Kentucky must file an Annual Report every year.  You need to file an Annual Report in order to keep your LLC in compliance and in good standing with the state. Reports can be filed any time between...

Monday, January 30, 2023

January 30 to February 3, 2023, is Identity Theft Awareness Week. Anytime is a good time to tighten up your identity security, but if you haven’t been as careful as you intended, consider this your annual reminder. Here are a few...

Monday, January 30, 2023

The Markets The vicious cycle of inflation. Last week, we learned that pay increases at central banks in many parts of the world won’t keep pace with inflation. As a result, their employees may not be able to maintain...

Monday, January 23, 2023

The Markets “It’s hard to be a contrarian for very long these days because the consensus seems to change so quickly,” opined Ed Yardeni via LinkedIn last week. We’ve certainly seen a shift in...

Tuesday, January 17, 2023

The Markets Bullish or bearish? After last year’s geopolitical turmoil, economic malaise, and tumultuous stock market decline, many financial professionals – from investors to asset managers – have strong...

Monday, January 9, 2023

The Markets It’s being called the “Goldilocks” report. Last Friday, we learned that demand for workers in the United States remained strong in 2022. The unemployment rate dropped to 3.5 percent in December....

Tuesday, January 3, 2023

The Markets It’s finally over. 2022 was a dismal year for financial markets. Major United States stock indices moved lower, trimming or eliminating the previous year’s gains. The Standard & Poor’s 500...

Tuesday, December 27, 2022

The Markets What a year!  In some ways, it feels as though we lived through several years in 2022. The onslaught of events included, “The first major European war since the 1990s, unprecedented sanctions,...

Monday, December 19, 2022

The Markets Bad news is bad news, once again. For months, investors have cheered bad economic news. When the United States economy showed signs of weakness, stock markets often reflected investor enthusiasm. The thinking was...

Monday, December 12, 2022

The Markets What comes next? The U.S. stock market tends to be a forward-looking vehicle. Investors make decisions today based on what they think may be ahead for the economy, and how economic change may affect the companies...

Tuesday, December 6, 2022

The Markets What will it take to slow this economy down? In 2001, railway workers slowed a runaway train in Ohio by latching a second engine to the back of the locomotive and applying the brakes. In all, the train traveled...

Tuesday, December 6, 2022

Effective for transactions on or after January 1, 2023, Kentucky tax law (HB 8) applies the 6% sales and use tax to charges for the services listed below.Businesses that provide these services must begin charging and collecting tax on...

Tuesday, November 29, 2022

The Markets There was a shift in the winds of monetary policy. Last week, it became clear the Federal Reserve (Fed) had softened its hawkish stance. The minutes of the central bank’s November policy meeting indicated...

Monday, November 21, 2022

The Markets Thanksgiving and football go together like turkey and stuffing. For some families, though, this year may be more like a turducken, stuffed with American football and the sport the rest of the world knows as...

Monday, November 14, 2022

A recent survey found that 28% of workers are very confident about having enough money to live comfortably through their retirement years. At the same time, 27% are not confident.1In 2001 congress passed a law that can help older...

Monday, November 14, 2022

The Markets Last week was remarkable for many reasons. One reason is that sky watchers around the world had an opportunity to see a total lunar eclipse. The moon, Earth and sun aligned, causing the moon to appear crimson. We...

Monday, November 7, 2022

The Markets It’s the lag time. To no one’s surprise, the Federal Reserve continued to battle inflation last week, raising the federal funds rate for the fourth time this year, reported Claire Ballentine of...

Thursday, November 3, 2022

As fall ushers in the start of the holiday season, we're embracing the cooler temperatures, drier weather, and preparing for the coziest season of all! It’s a time to enjoy friends, family, great food, and a whole lot of football.

Monday, October 31, 2022

The Markets Some companies are doing better than others – a lot better. It’s earnings season; the time when companies share how well they performed during the previous quarter. Earnings reports are important...

Monday, October 24, 2022

The Markets Markets turned – again. Markets continue to be volatile. Last week, stocks headed north. Nicholas Jasinski of Barron’s reported the change of direction reflected investors’ desire for the market...

Monday, October 17, 2022

The Markets We’re not there yet. Investors are understandably eager for the stock market to hit bottom. Some hoped it happened last week, but it did not.  Despite the Fed’s rate hikes, last week the...

Monday, October 10, 2022

The Markets Bah humbug! Last week, OPEC+, which includes the Organization of the Petroleum Exporting Countries and allied oil producers like Russia, chose to cut production by two million barrels a day. The stated goal is to...

Monday, October 3, 2022

The Markets The third quarter marked a change in attitude. So far, 2022 has been a tough year for investing. We’ve experienced an unusual phenomenon – the simultaneous decline of stock and bond markets. Throughout...

Monday, September 26, 2022

The Markets Central bank tightening sparked recession fears. Last week, the Federal Reserve (Fed) raised the federal funds rate for the fifth time this year. During 2022, the Fed has lifted its benchmark rate from near zero...

Monday, September 19, 2022

The Markets It’s open to interpretation. Jackson Pollock was an action painter. He poured, dropped, and dripped paint onto horizontal canvases. Some people look at his work and wonder why it’s highly valued....

Monday, September 12, 2022

The Markets Central banks are hawkish. Stocks popped higher, anyway. Last week, despite signs that inflation is slowing, U.S. Federal Reserve (Fed) officials emphasized their commitment to tightening monetary policy to lower...

Tuesday, September 6, 2022

The Markets You may have heard this one: Don’t fight the Fed. The Fed is the Federal Reserve Bank of the United States. Among other things, the Fed influences monetary conditions in pursuit of price stability and full...

Thursday, September 1, 2022

Schools across the nation are getting back to business. For students, it’s a return to education after vacations, summer jobs, and other activities.For parents, grandparents, and guardians, “back to school” often...

Monday, August 29, 2022

The Markets Markets were tuned to the signals coming from Jackson Hole, Wyoming. During World War II, United States armed forces often relied on high-powered radio sets to communicate. When determining whether transmissions...

Monday, August 22, 2022

The Markets Is this a bear market rally or a new bull market? Investment professionals are in the middle of a heated debate. Since mid-June, United States stock markets have moved higher, regaining about $7 trillion as many...

Monday, August 15, 2022

The Markets Rally caps were waving. In recent weeks, investors have embraced the idea that economic data will persuade the Federal Reserve to slow the pace of rate hikes. Last week’s inflation data fanned their...

Monday, August 8, 2022

 The Markets The strength of the United States economy continues to surprise. If you have ever been camping, you may have banked your campfire by covering the hot coals with ash. It’s a process that keeps the coals...

Friday, August 5, 2022

"Where there's a will, there's a way." Sage advice that applies not only to our lives but to your estate strategy.When was the last time you reviewed your will or estate strategy? August is National "Make a Will" Month, an excellent...

Monday, August 1, 2022

The Markets Investors thought they heard a dovish note from the Federal Reserve and markets rallied. Last week, we learned from the Bureau of Economic Analysis (BEA) that economic growth in the United States slowed for the...

Monday, July 25, 2022

The Markets A lot of people are worried that a recession may be in our future. Some think it may already be here. Unemployment is low (3.6 percent), and inflation is high (9.1 percent). Both tend to occur when an economy is...

Monday, July 18, 2022

 The Markets Nobody is happy, but Americans are feeling more optimistic. Last week, headlines blasted the new inflation numbers. Prices were up more than 9% year-over-year in June, according to the Bureau of Labor...

Monday, July 11, 2022

The Markets Rising inflation is a bit like a child throwing a temper tantrum in the grocery store. The red-faced parent, in this case the U.S. Federal Reserve (Fed), tries to calm the child. Sometimes, it works and the child...

Tuesday, July 5, 2022

The Markets The first six months of 2022 have earned a place in history books. 2022 is likely to become part of the lore passed from generation to generation. Stories will be told about this bear market, as well as the...

Monday, June 27, 2022

The Markets Last week, bad news was good news. Consumers were feeling blue in June, according to the University of Michigan Consumer Sentiment Survey. The survey scored sentiment at 50, which was the lowest level on record....

Tuesday, June 21, 2022

The Markets The fight against inflation intensified. Last week, the Federal Reserve (Fed) delivered a message that it is serious about fighting inflation. The Federal Open Market Committee (FOMC) lifted the federal funds...

Monday, June 20, 2022

Summer’s here, and the time is right for vacations, outdoor activities, and fun. It’s also a good time to consider a few financial matters. Here are some questions to ask yourself mid-year.Goals still the same for...

Monday, June 13, 2022

 The Markets Inflation is proving to be far more tenacious than markets had hoped. The idea that inflation peaked in March was put to rest last week when the Consumer Price Index (CPI) showed that inflation accelerated...

Monday, June 6, 2022

The Markets How strong is the United States economy? That’s the question investors were mulling after last week’s jobs report. More jobs were created in May than economists expected, and the labor force...

Tuesday, May 31, 2022

 The Markets Investors reassessed and markets bounced. Last week, major U.S. stock indices moved higher for the first time in weeks. The Dow Jones Industrial Average gained 6.2 percent, the Standard &...

Monday, May 23, 2022

Thursday, May 19, 2022

Wednesday, May 18, 2022

Monday, May 16, 2022

Monday, May 9, 2022

Monday, May 2, 2022

Monday, April 25, 2022

Monday, April 18, 2022

Monday, April 11, 2022

Monday, April 4, 2022

Monday, March 28, 2022

Monday, March 21, 2022

Monday, March 14, 2022

Monday, March 7, 2022

Thursday, March 3, 2022

Tuesday, March 1, 2022

Monday, February 28, 2022

Wednesday, February 23, 2022

Monday, February 21, 2022

Monday, February 14, 2022

Tuesday, February 8, 2022

Monday, January 31, 2022

Monday, January 24, 2022

Wednesday, January 12, 2022

Tuesday, November 23, 2021

It is our mission at McDaniel Wealth Management to equip you with the knowledge you need to make the best financial decisions for you and your family. Check out this season's newsletter for tax tips, updates from the firm, and a...

Monday, November 8, 2021

The Markets Feeling bullish… Investor bullishness ticked higher last week on all four investor sentiment gauges tracked by Barron’s. Investor optimism may have been fanned by positive financial and economic news. For...

Monday, November 1, 2021

The Markets The road to recovery is slow and bumpy. Last week, we learned that economic growth slowed in the third quarter as a new wave of COVID-19 surged across the United States, reported The Bureau of Economic Analysis. Gross...

Monday, October 25, 2021

The Markets It’s MESSI! No, this commentary is not about Lionel Messi, the Argentine soccer phenom who is widely regarded one of the greatest footballers of all time. However, it is about something that economists say may be as...

Monday, October 18, 2021

The Markets Don’t get spooked! Barron’s Big Money Poll is an exclusive survey of market sentiment among professional investors. Last week, Nicholas Jasinski reported on 2021’s findings: “America’s money...

Monday, October 11, 2021

The Markets The word “jouncy” may have started life as a combination of bouncy and jolting – and it’s a pretty good way to describe what happened to stock markets last week. The week started with the Standard &...

Monday, October 4, 2021

The Markets September strikes again… If you look back over the last 20 years, September has been the worst performing month for the Standard & Poor’s 500 Index, according to Nasdaq. This year, the S&P 500 dropped 4.8...

Monday, September 27, 2021

The Markets Central banks have a lot of influence on investors, markets and economies. For the last year or so, the Federal Reserve has been purchasing $120 billion of bonds every month to ensure United States markets remained liquid...

Monday, September 20, 2021

The Markets In recent weeks, bullish sentiment has drifted lower like sediment settling after a storm. Every month, Bank of America (BofA) surveys global asset managers. The most recent survey, which was conducted in early September,...

Monday, September 13, 2021

The Markets The Delta variant could take a toll on economic growth. There was some good news last week. The 7-day moving average of COVID-19 cases in the United States declined. The bad news was that the rate of infection remained...

Tuesday, September 7, 2021

The Markets Stagflation isn’t trending, but it was mentioned in quite a few headlines last week. Stagflation is a portmanteau of ‘stagnation’ and ‘inflation.’ It occurs when a country experiences slow...

Monday, August 30, 2021

The Markets “Raise your words, not your voice. It is rain that grows flowers, not thunder,” advised the Persian poet Rumi. Last week, Federal Reserve (Fed) Chair Jerome Powell’s words helped grow the week’s...

Monday, August 23, 2021

The Markets Markets were shaken last week by a potent cocktail of central bank tapering and economic growth concerns mixed with coronavirus and a splash of the new Chinese privacy law. On Wednesday, the minutes of the United States...

Monday, August 16, 2021

The Markets What is the most important driver of economic growth in the United States? The most common way to measure economic output is Gross Domestic Product or GDP. It’s the value of all goods and services produced in our...

Monday, August 9, 2021

Are we there yet? For months, investors have wondered when the Federal Reserve (Fed) might begin to “normalize” its policies, a process that will eventually lead to higher inteårest rates. Last week, a...

Monday, August 2, 2021

The Chinese dragon cast a shadow over free trade and foreign investment last week. For decades, investors have recognized the investment potential of China. Since the country opened to foreign trade and investment in 1979, its economy...

Monday, July 26, 2021

Shortest ever. Last week, the National Bureau of Economic Research (NBER) finally announced the official dates for the recession that occurred in 2020. Economic activity peaked in February 2020 and bottomed in April 2020. That makes...

Monday, July 19, 2021

The term “peak growth” has become almost as popular as the comedy show Ted Lasso. Peak growth is a catchphrase with the potential to mislead. When the term is applied to the U.S. economy, it does not mean the United States...

Monday, July 12, 2021

There was a gapers’ block in financial markets last week as equity investors slowed to see what the United States Treasury bond market was up to. U.S. Treasury bonds rallied last week. Yields on 10-year Treasuries dropped from 1...

Tuesday, July 6, 2021

The world is about halfway back to normal. The Economist developed the Global Normalcy Index (GNI) to measure the post-pandemic return to normal. In March 2020, the GNI was 35 overall, with 100 being the normal pre-pandemic level. At...

Monday, June 28, 2021

What begins with the letter “I”? Infrastructure is essential and sometimes taken for granted. Pipes carry drinking water to our homes, offices, and healthcare facilities, and carry away sewage and wastewater. Highways,...

Monday, June 21, 2021

Is that a hawk? The Federal Reserve Open Market Committee (FOMC) met last week. They get together eight times a year to review current economic and financial conditions, assess risks to price stability and economic growth, and adjust...

Monday, June 14, 2021

It’s transitory. It’s not transitory. It’s transitory. It’s not transitory. Media analysts were plucking the inflation daisy petals last week. On Thursday, the Bureau of Labor Statistics released the Consumer...

Monday, June 7, 2021

Pulling the economy out of the shed. If you’ve ever stored tools or machinery in a shed or garage for an extended period of time, you know they often need some care and repair to function properly. The same appears to be true of...

Tuesday, June 1, 2021

Are we at a tipping point? One side effect of the pandemic was a collapse in demand for oil, which led to “the largest revision to the value of the oil industry’s assets in at least a decade,” reported Collin Eaton...

Monday, May 24, 2021

The Markets What do markets hate? They hate uncertainty, and recently there has been plenty of it. Some of the questions plaguing economists and pundits include: Why aren’t people returning to work? Americans, like people in...

Tuesday, May 18, 2021

Uncle Inflation is here. Will he overstay his welcome? Ever since the financial crisis, central banks have pursued expansionary monetary policies to encourage reflation and avoid deflation. Well, it’s taken some time, but...

Monday, May 10, 2021

Like a gender reveal gone wrong, last week’s employment report delivered an unexpected surprise. Economists estimated 975,000 new jobs would be created in April. The United States Bureau of Labor Statistics (BLS) reported there...

Monday, May 3, 2021

It’s Spring and economic recovery is in the air. Last week, the Bureau of Economic Analysis reported the U.S. economy grew at a 6.4 percent annualized rate for the first three months of 2021. While that’s good news for...

Monday, April 26, 2021

It wasn’t just the price of pork chops. Last week, as investors weighed the news, strong corporate earnings were offset by higher grocery prices and rising numbers of global coronavirus cases. Solid corporate earnings weighed...

Tuesday, April 20, 2021

As you are aware, the Treasury Department and Internal Revenue Service announced that the federal income tax filing due date was extended from April 15, 2021, to May 17, 2021. That deadline is quickly approaching! We are ready to...

Monday, April 19, 2021

Where are Treasury bonds going? The direction of bond yields is influenced by investors’ expectations for economic growth, among other factors. When economic growth is expected to weaken, bond yields tend to move lower. When...

Monday, April 12, 2021

Investors didn’t stumble over inflation last week. Why not? Inflation – rising prices of goods and services – can be measured in a variety of ways. For example, the Consumer Price Index considers changes in the amount...

Monday, April 5, 2021

Zoom, zoom, zoom.Big economies tend to recover from recessions about as quickly as semi-trucks accelerate from stop lights. In other words, recovery tends to be slow. That may not be the case this time.“Everything in this economic...

Monday, March 29, 2021

Last week, unemployment claims were looking good and consumers were feeling good. The number of Americans applying for first-time unemployment benefits declined. Just 684,000 people filed claims during the week of March 20, down 97,000...

Monday, March 22, 2021

What are professional asset managers thinking? Bank of America recently published the results of its March global asset managers’ survey, which polls 220 professional investors responsible for about $630 billion in assets,...

Monday, March 15, 2021

Investors had a lot to be enthusiastic about last week. Major stock indices in the United States soared, finishing the week higher and setting new records along the way, reported Al Root of Barron’s. There was plenty of good news...

Monday, March 8, 2021

Neanderthal DNA may make people more – or less – susceptible to COVID-19, reported The Economist. It all depends on whether you have the genes and, if you do, which DNA string you inherited. No matter what your gene...

Monday, March 1, 2021

On Monday, Feb. 22, the White House announced several changes to the Paycheck Protection Program (PPP) that went into effect on Wednesday, Feb. 24. These changes are intended to further target “the smallest businesses and those...

Monday, March 1, 2021

Students of financial markets may have noted a historically unusual event last week. On Thursday, the yield on 10-year U.S. Treasury notes briefly matched the dividend yield for the Standard & Poor’s (S&P) 500 Index. This type of...

Monday, February 22, 2021

It’s a contrarian’s dream come true. Contrarian investors like to buck the trend. They buy when other investors are selling and sell when others are buying. Last week, Bank of America (BofA) delivered a contrarian’s...

Thursday, February 18, 2021

All LLCs doing business in Kentucky must file an Annual Report every year. You need to file an Annual Report in order to keep your LLC in compliance and in good standing with the state. Reports can be filed any time between January 1...

Tuesday, February 16, 2021

Way back, when radio disk jockeys played 45-rpm vinyl singles, the A-side of a disk was the song the record company was promoting and the other side – the flip side – held a song that sometimes had an equal or greater...

Monday, February 8, 2021

The Markets It’s not a black diamond ski run yet, but the yield curve for U.S. Treasuries is steeper than it has been in a while. A yield curve is the line on a graph showing yields for different maturities of bonds. Yield curves...

Monday, February 1, 2021

Recently, the Internal Revenue Service (IRS) announced that tax season will start a little later than usual. This year the IRS will begin accepting and processing 2020 tax returns on Friday, February 12, 2021.1 In light of the...

Monday, February 1, 2021

The Markets They say people watching the same event often see different things. That seems to have been the case last week when share prices of a few companies experienced tremendous volatility. Some cast the events as a David vs....

Monday, January 25, 2021

The Markets Last week, as COVID-19 vaccination efforts continued, there was speculation about stock market corrections and asset bubbles. On Sunday morning, Bloomberg reported 63 million doses of the coronavirus vaccine had been...

Tuesday, January 19, 2021

Investors were rocked by economic data showing the economy hit the brakes hard in December. Last week, major U.S. stock indices decelerated as investors gaped at the economic damage caused by the rising number of coronavirus cases...

Monday, January 11, 2021

The event at the United States Capitol building had a resounding impact around the world, but it didn’t deter global stock markets. Last week, investors weighed the violent disruption of America’s 2020 presidential election...

Monday, January 4, 2021

Last week was the cherry on top of a turbulent year for investors. After the $900 billion fiscal stimulus bill was signed on Sunday, major U.S. stock indices moved higher. The Washington Post reported, “The S&P 500-stock index,...

Monday, December 28, 2020

U.S. stock markets remained calm as a fresh chapter opened in the coronavirus stimulus saga last week. Congress managed to cobble together a new stimulus package that was acceptable to both sides and pass it. The proposed package...

Monday, December 14, 2020

When it comes to beverages, frothy can be delicious. In what may be the least inspiring description of fizzy drinks ever written, a group of food engineers explained, “Aeration in beverages, which is manifested as foam or bubbles...

Monday, December 7, 2020

When is bad news good news? Take a look at last week. Major stock indices in the United States hit all-time highs on Friday, despite a lackluster employment report and a surge in COVID-19 cases, reported Lewis Krauskopf of Reuters....

Monday, November 30, 2020

Last week, vaccine optimism immunized investors against signs of economic weakness. In previous commentaries we’ve written about narrative economics, which holds that popular stories may affect individual and collective economic...

Monday, November 23, 2020

The U.S. economy is like a semi-trailer truck. No one likes being stuck behind a semi at a stoplight because big trucks don’t go from zero to 60 in 2.5 seconds. Neither does the U.S. economy. When the pandemic brought our economy...

Monday, November 16, 2020

Vaccine can be a powerful word. It’s worth 14 points in Scrabble (42 on a triple word square) and, last week, it was worth a whole lot more than that to financial markets. On Monday, a pharmaceutical company and a biotech company...

Monday, November 9, 2020

It’s said markets hate uncertainty, but that wasn’t the case last week. Despite tremendous uncertainty about the outcome of the United States election, major domestic and international stock indices moved higher and the...

Monday, November 2, 2020

The Markets Last week, financial markets and economic data told very different stories. Reviewing economic data is a bit like looking in a rearview mirror. Typically, it offers information about what is behind us. For example, last...

Monday, October 26, 2020

The Markets Stimulus talks led investors in a merry dance last week. So far in 2020, stock markets have been sensitive to fiscal stimulus. Last week, there was optimism a new stimulus package could be negotiated before the election....

Monday, October 19, 2020

The Markets It was a turbulent week for investors. Waves of positive and negative news buffeted financial markets last week: The financial sector delivered upbeat earnings news Currently, many financial companies in the Standard &...

Monday, October 12, 2020

The Markets Yes. No. Maybe? Markets were sharply focused on the status of stimulus last week. First, it was on. Then, it was off. Then, it might be on. Then, it was off again. There was a big bill. There was a smaller bill. There were...

Monday, October 5, 2020

Last week, the third quarter of 2020 came to an end – and the fourth quarter delivered a doozy of an October surprise. President Trump has the coronavirus On Friday Americans awoke to the news President Trump had contracted...

Monday, September 28, 2020

For four weeks, the U.S. stock market has sparked and sputtered like a campfire in light rain. Today, pandemic-driven demand is providing fuel for the investors. The need for certain types of products and services has accelerated and...

Monday, September 21, 2020

Investors weren’t happy with central banks last week. After the Federal Open Market Committee (FOMC) meeting, Federal Reserve Chair Jerome Powell confirmed the economy is recovering more quickly than anticipated: “With the...

Tuesday, September 15, 2020

Last week, the Nasdaq Composite Index set another record. So far, 2020 has been memorable for many reasons, not the least of which is the incredible speed at which some events have been occurring in financial markets. This year,...

Tuesday, September 8, 2020

Stock markets in the United States retreated a bit last week. U.S. stocks have been trending higher for months. Last week, they gave back some gains. The Nasdaq Composite dropped 3.3 percent, while the S&P 500 Index fell 2.3 percent,...

Monday, August 31, 2020

8.31.2020 The Markets The stock market rallies like it’s 1986. August has been a good month for stock investors. At the end of last week, the S&P 500 Index was up 6.8 percent for the month. The Index is poised to deliver its best...

Monday, August 3, 2020

AUG 2020 Commentary August 3, 2020 The Markets Last week delivered a mixed bag of financial and economic news. As many expected, the U.S. economy did not fare well during the second quarter. COVID-19 lockdowns and business closings...

Monday, July 20, 2020

JUL 2020 Commentary July 20, 2020 The Markets Is the United States economy recovering or faltering? It depends on who you ask and which data you consider. For example, last week, the Department of Labor reported fewer people applied...

Tuesday, July 14, 2020

JUL 2020 Commentary July 13, 2020 The Markets Please don’t scream inside your heart. Last week, a reopened Japanese theme park asked patrons to wear masks to help reduce the spread of coronavirus. It also asked them not to...

Monday, July 6, 2020

JUL 2020 Commentary July 6, 2020The MarketsWhat a quarter!Who could have guessed a global pandemic would produce outsized stock market returns? Near the end of last quarter (March 23), the Standard & Poor’s 500 Index was down 30...

Tuesday, June 30, 2020

JUN 2020 Commentary June 29, 2020The MarketsBlame it on the coronavirus.Stock markets in the United States and Europe retreated last week as the number of new COVID-19 cases increased steadily in America. On Thursday, there were more...

Wednesday, June 24, 2020

Could it be the upside surprises?U.S. stock markets have marched higher despite a pandemic, an economic downturn, and social justice protests – and a lot of people have wondered why.1Greg Rosalsky of Plant Money spoke with Nobel...

Monday, June 15, 2020

The Nasdaq Composite dipped its toes into record territory last week before retreating. Stock indices in the United States rallied early last week on optimism about the reopening of businesses across the country. The Nasdaq Composite...

Monday, June 8, 2020

The employment report electrified U.S. stock markets last week.American stock markets responded enthusiastically to the news U.S. unemployment was 13.3 percent in May. If it seems inexplicable double-digit unemployment would thrill...

Monday, June 1, 2020

It was a good week for stock markets in the United States, but there was trouble in Asia. U.S. stock markets rallied last week. The Dow Jones Industrial Average, Standard & Poor’s 500 Index, and Nasdaq Composite all gained more...

Tuesday, May 26, 2020

The Markets It was a good week for stock markets in the United States, but there was trouble in Asia. U.S. stock markets rallied last week. The Dow Jones Industrial Average, Standard & Poor’s 500 Index, and Nasdaq Composite all...

Monday, May 18, 2020

America is reopening, state by state. That’s welcome news for many businesses, but we’re far from business as usual. Last week’s economic news included unemployment hitting an 80-year high, a record drop in retail...

Tuesday, May 12, 2020

Lots of useful information in our Spring 2020 Newsletter!

Monday, May 11, 2020

The stock market is not the economy. It’s an important point to remember when headlines marvel that U.S. stock markets are moving higher while the U.S. economy is contracting. Stock markets are not mindful of the present moment....

Monday, May 4, 2020

There are signs COVID-19 may be in retreat. Last week, the Centers for Disease Control reported, overall in the United States, for the week ending April 25 (officially week 17 of the coronavirus), the number of:1 • People visiting...

Monday, April 27, 2020

We live in interesting times. There is discussion about whether the saying, “May you live in interesting times,” is a blessing or a curse. At this point in 2020, we all understand why.1 Last week, the world watched in...