Weekly Market Update

The Week on Wall Street

Stocks declined last week as global investors fretted about oil-supply-induced inflation.

The Standard & Poor’s 500 Index declined 1.43 percent, while the Nasdaq Composite Index slid 2.05 percent. The Dow Jones Industrial Average slipped 0.85 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.40 percent.

Bond Yields Up, Stocks Under Pressure

Bond yields spiked at the start of the week, putting a squeeze on stock prices. The yield on the 30-year Treasury bond hit a 19-year high.

Markets continued their slide on Tuesday as investors fretted over inflation. Yields on bonds around the world rose to multi-decade highs.

Stocks steadied, and bond yields fell midweek as investors responded to the Treasury Department’s announcement that it would buy back long-term debt to help stabilize interest rates. However, the Wednesday morning rally petered out as the session progressed into the afternoon.

Stocks rebounded to finish a tough week on a positive note despite rising oil prices.

A Bee In The Bonnet

Last week, yields on bonds issued by sovereign governments around the world rose to multi-year highs, including in Japan and throughout Europe.

Investors in these bonds decided they needed higher yields to compensate for ongoing global issues. As a result, the cost to borrow money went up. And because bond prices and yields move in opposite directions, the value of these bonds fell.

The Treasury Department stepped in on Wednesday to say that it would double the size of its current repurchases of longer-term (10- to 30-year) Treasury debt. It’s uncertain how the move could influence markets.

Key Economic Data

Tuesday: S&P Cotality Case-Shiller Home Price Index. New Home Sales. Consumer Confidence (Conference Board).

Wednesday: Durable Goods. Gross Domestic Product (GDP), 2nd estimate. Personal Consumption Expenditures (PCE) Index.

Thursday: Weekly Jobless Claims. Trade Balance in Goods. Wholesale Inventories. Retail Inventories.

Friday: Consumer Sentiment (U. Michigan).

Source: Econoday

Companies Reporting Earnings

Tuesday: Intuit Inc. (INTU)

Wednesday: Nvidia Corporation (NVDA), CrowdStrike (CRWD), Salesforce, Inc. (CRM), Synopsys, Inc. (SNPS)

Thursday: Marvell Technology, Inc. (MRVL), Autodesk, Inc. (ADSK)

Source:Zacks.com

3 Stretches For Your Lower Back

We spend so much time sitting in our cars and at our desks that it’s no wonder that our lower backs can become tight and even sore. These three lower back stretches will help improve your flexibility and recovery and may even help if you have lower back pain.

• Figure 4 Stretch: The Figure 4 stretch will stretch your glutes, hamstrings, and lower back. To do the stretch, lay on your back with both feet on the ground. Then, cross your left foot over your right knee. Gently bring your right leg to a 90-degree angle. If you would like to increase the intensity of the stretch, grab the back of your thigh and bring your right knee toward your torso. Repeat on the other side.
• Inner Thigh Stretch/Butterfly Stretch: This stretch addresses your inner thigh and lower back. Sit on the ground and bring your feet together in front of your knees with the soles of your feet touching. Let your knees fall to the side. To increase the stretch, bring your feet closer to your torso.
• Pigeon Pose: To assume the pigeon pose, bring one leg to 90 degrees from your torso and stretch the other leg behind you so your right calf is perpendicular to your hips. To intensify the stretch, bend at the hips over your front leg. Repeat on both sides.

Tip adapted from Very Well Fit

Serves: 4 People

Ingredients:

• 1 1/2 pounds small red or baby Yukon Gold potatoes
• Kosher salt
• 1/4 cup extra-virgin olive oil
• 1 tablespoon champagne vinegar or white wine vinegar
• 1/2 teaspoon Dijon mustard
• Freshly ground black pepper
• 1 (15-ounce) can chickpeas, rinsed and drained
• 1/2 cup minced red onion (half a small onion)
• 3/4 cup cornichons, finely chopped (about 3.5 ounces)
• 2 tablespoons mayonnaise
• 1/3 cup minced fresh dill

Directions:

1. Place the potatoes in a large pot and add 2 tablespoons salt and enough water to cover generously. Bring to a boil over high heat and cook until the potatoes are tender when pierced with a fork, 15 to 20 minutes, depending on the size of the potatoes. Drain and set aside until just cool enough to handle.
2. Meanwhile, in a large bowl, combine the olive oil, vinegar, mustard, 1/2 teaspoon salt, and 1/4 teaspoon black pepper and whisk until smooth. Stir in the chickpeas and onion and set aside.
3. When the potatoes are just cool enough to handle, cut them in half (or quarters if they are larger than 11/2 inches in diameter) and add to the bowl with the dressing. Toss gently and set aside, tossing occasionally, until cool.
4. Add the cornichons and mayonnaise to the potatoes and mix well. Add the dill and toss again. Season with more salt and black pepper to taste. Serve at room temperature.

Recipe adapted from Food52

A Drill to Improve your Weight Transfer

You won’t need anything except your normal club and ball.

1. As you hit shots, try to tap your back toe on the ground without falling over.
2. If you’re able to do this immediately after you finish your shot, then you’ve transferred your weight forward correctly.
3. If it takes you a couple seconds after the shot to lift your heel and tap your toe, that means you’ve still got too much weight on your back foot.

This is a quick drill, but really helpful. If it’s not a smooth and almost immediate tapping of the toe after you hit the ball, then you need to shift more weight to be able to do that.

Tip adapted from theleftrough.com

Reporting Cash Payments

Individuals, companies, corporations, and others must report cash transactions of more than $10,000. These cash payments can include jewelry sales, gifts from family members, overseas purchases, or any other cash transactions. You also need to report cash payments received in one lump sum, in two or more related payments within 24 hours, or as part of a single transaction or two or more transactions in the previous year.

All you need to do is file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. The form requires information about the giver and the recipient of the cash, a description of the transaction, and details about any other parties involved.

This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues.

This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues.

Tip adapted from IRS.gov

Financial planning and investment advisory services offered through Cleveland Wealth, LLC, a Registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified wealth advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.