Weekly Market Update

The Week on Wall Street

Stocks advanced last week as the broad market looked past inflationary pressures and focused on falling oil prices, declining bond yields, and ongoing diplomatic efforts in the Middle East.

The Standard & Poor’s 500 Index rose 1.22 percent, while the Nasdaq Composite Index advanced 2.06 percent. The Dow Jones Industrial Average edged up 0.28 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 0.15 percent.

Choppy Trading

Stocks bolted out of the gate to start the week, rebounding thanks to AI stocks, falling oil prices, and bond yields. The Nasdaq hit a record intraday high during Monday’s session.

The broad market went sideways on Tuesday as traders kept an eye on developments in the Middle East, while oil prices and Treasury yields slid further.

Markets then fell midweek amid investor concerns over comments from one Fed official and two inflation updates. All three major averages were under pressure. The malaise hung on into Thursday, but stocks began to climb late in the day on upbeat reports out of the Middle East.

All three major averages continued their recovery Friday, ending the day with some momentum going into the close.

Eyes on Bonds

Treasury yields hit multidecade highs last week due to a couple of factors.

The first was Federal Reserve Governor Michael Barr’s hawkish language on Wednesday, suggesting he was open to another rate adjustment at the October Fed meeting. And the second was the Purchasing Managers’ Index (PMI) reports for both manufacturing and services, which were also released on Wednesday. Both reports showed costs hit four-year highs for the month.

Key Economic Data

Monday: Purchasing Managers Index (PMI)—Services.

Tuesday: Trade Balance. Dallas Fed President Lorie Logan speaks.

Wednesday: Federal Open Market Committee (FOMC) Meeting Minutes. Consumer Credit.

Thursday: Weekly Jobless Claims. Monthly Wholesale Trade.

Friday: Consumer Sentiment (U. Michigan Survey). Kansas City Fed President Jeffrey Schmid speaks.

Source: Econoday

Companies Reporting Earnings

Thursday: PepsiCo, Inc. (PEP)

Friday: Delta Air Lines, Inc. (DAL)

Source:Zacks.com

Let AI Help You Prepare For Difficult Conversations 

Whether it’s a performance review, a negotiation, or a tough talk with a family member, preparation makes all the difference. Before your next challenging conversation, walk AI through the situation and ask it to help you anticipate the other person’s perspective, likely objections, and emotional responses. You can even role-play the conversation in real time, with AI playing the other party. Going in prepared doesn’t just reduce anxiety—it makes you a sharper, more empathetic communicator.

Tip adapted from CareerTrainer.ai

Serves: 16 Cookies

Ingredients:

Cookies

• 1 1/2 cups(195 grams) all-purpose flour
• 1 teaspoon ground cinnamon
• 1/2 teaspoon ground ginger
• 1/4 teaspoon ground nutmeg
• 1/8 teaspoon ground cloves
• 1 teaspoon baking powder
• 1/4 teaspoon baking soda
• 1/2 teaspoon kosher salt
• 6 tablespoons unsalted butter, room temperature
• 1 cup(200 grams) granulated sugar
• 1/2 cup(90 grams) light brown sugar
• 1 large egg, room temperature
• 1/2 teaspoon vanilla extract
• 1 cup(227 grams) pumpkin puree (not pumpkin pie filling)
• 3/4 cup(142 grams) semisweet chocolate chips

Glaze

• 3 tablespoons heavy cream
• 1/2 cup confectioners’ sugar
• 1 teaspoon maple syrup
• 1/8 teaspoon ground turmeric

Directions

1. Preheat the oven to 375°F and line two sheet pans with parchment paper.
2. In a medium bowl, whisk together the flour, cinnamon, ginger, nutmeg, cloves, baking powder, baking soda, and salt. Set aside.
3. In the bowl of a stand mixer, combine the butter, granulated sugar, and light brown sugar. Mix on medium-high speed, scraping down the sides of the bowl, until the mixture is moistened and crumbly, about 1 minute.
4. With the mixer on low, add the egg and vanilla extract and mix until combined. Add the pumpkin and mix until combined, scraping down the sides of the bowl. The mixture may look broken at this point; that’s okay!
5. With the mixer on low, add the dry ingredients and mix until just combined. Use a spatula to make sure the batter is fully mixed, then stir in the chocolate chips.
6. Scoop the batter in two 2-tablespoon mounds (50 to 55 grams each), evenly spaced, on the prepared sheet pans.
7. Bake for 12 to 14 minutes, one sheet pan at a time, until the cookies are puffed, slightly bouncy when pressed, and lightly browned on the bottom. Transfer to a wire rack to cool.
8. Make the glaze: In a small bowl, combine the heavy cream, confectioners’ sugar, and maple syrup and whisk until smooth. Working quickly, drizzle over the cookies in a zigzag pattern. Set the cookies aside until the glaze is set, about 1 hour.

Recipe adapted from Food52

Maintain your Posture

A reason you might hit thin golf shots is from changing your posture in the swing.

If you don’t keep your left shoulder down on the downswing your torso will change positions. This will cause you to keep your weight back, raise the club off the ground, and hit the top part of the ball.

You want to maintain your posture throughout the swing.

It should remain the same during your takeaway, transition, and downwing as it was from the start position. Keep your head in the same position throughout the swing to stop your upper body from changing angles.

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.