Stocks finished the week mixed, bookending losses around midweek gains as investors digested fresh inflation data.

The Standard & Poor’s 500 Index slipped 0.64 percent, while the Nasdaq Composite Index ticked up 0.34 percent. The Dow Jones Industrial Average dropped 1.82 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 1.48 percent.

Up And Down Week

Stocks fell broadly over the first part of the week. Leading chipmakers who produce semiconductors for artificial intelligence applications were under pressure after Chinese regulators announced an antimonopoly investigation.3

Investors breathed a sigh of relief Wednesday morning following news that consumer inflation in November was in line with expectations. Mega-cap tech stocks led the rally, with the Nasdaq closing above 20,000 for the first time. Meanwhile, the Dow fell as healthcare stocks came under pressure.4

Stocks remained in the trading range for the rest of the week on mild concerns about Thursday’s warmer-than-expected wholesale inflation report and a spending slowdown among lower-income consumers. The Dow registered its worst losing streak since 2020.

Final Fed Meeting Of 2024

The consumer price index ticked up to 2.7 percent on an annualized basis in November, as expected. The market’s rally following the news reflected investor relief that inflation met expectations and that the increase from the prior month was slight.

Those two factors may reinforce the belief that the Fed would follow through with the December rate adjustment, which it penciled in back in September. The bellwether inflation measure was the last critical data point before the Fed’s two-day meeting, scheduled to end on December 18.

Tuesday: Federal Open Market Committee (FOMC) Meeting Begins. Retail Sales. Industrial Production. Business Inventories.

Wednesday: Housing Starts and Permits. FOMC Announcement. Fed Chair Press Conference.

Thursday: Gross Domestic Product. Existing Home Sales. Weekly Jobless Claims.

Friday: Personal Income and Outlays. Consumer Sentiment.

Source: Econoday

Wednesday: Micron Technology, Inc. (MU)

Thursday: NIKE, Inc. (NKE), Cintas Corporation (CTAS), FedEx Corporation (FDX), Paychex Inc. (PAYX)

Source:Zacks.com

Sources: YCharts.com, December 14, 2024

Weekly performance is measured from the close of trading Friday December 9, to Friday, December 13 close.

A “Berry” Important Superfood

Not only are blueberries delicious, but they are also a powerful superfood that has many potential health benefits. They are low in calories, can be added to countless dishes, and are the perfect easy snack. Here are some benefits of blueberries, according to Healthline:

• They are high in fiber, Vitamin C, Vitamin K, and Manganese (all important nutrients)
• They are high in antioxidants
• They may help lower blood pressure, according to one study by PubMed Central
• They may help maintain brain function and improve memory based on their antioxidant levels (according to a study by the National Institute of Health
• They may reduce muscle damage after exercise and improve inflammation.

Tip adapted  from American Heart Association

Chicken Normandy

Serves: 6

Ingredients:

• 6 bone-­in, skin-­on whole chicken legs (about 3½ lb.)
• Fine salt and freshly ground black pepper
• 2 Tbsp. vegetable oil, plus more as needed
• 4 oz. thick-cut bacon, cut crosswise into ½-in. pieces
• 1½ cups coarsely chopped onion (about 1 large)
• 2 celery stalks, thinly sliced
• 3 garlic cloves, finely chopped
• 1 Tbsp. all-­purpose flour
• 2½ cups dry hard cider
• 1½ cups chicken stock
• 2 thyme sprigs
• 1 bay leaf
• ⅔ cup crème fraîche
• Coarsely chopped parsley leaves, for garnish
• Lemon wedges and crusty bread, for serving

Directions:

1. Position a rack in the center of the oven and preheat to 350°F. Season the chicken legs all over with salt and black pepper.
2. To a large, heavy pot over medium-high heat, add the oil. When hot and shimmering, working in batches of 2 legs, add the chicken skin-­side down and cook, turning once, until golden brown and crisp on both sides, 10–11 minutes total, adding more oil if needed. Using tongs, transfer to a paper towel-­lined plate.
3. Add the bacon to the pot and cook until most of the fat has rendered and the bacon is beginning to brown, about 5 minutes. Using a slotted spoon, transfer the bacon to a paper towel-­lined plate. Drain off all but 1 tablespoon of fat from the pot, then turn the heat to medium. Add the onion and celery and cook, stirring occasionally, until the onion is translucent, about 5 minutes. Add the garlic and cook, stirring occasionally, until fragrant, about 2 minutes. Add the flour and cook, stirring, for 1 minute. Stir in the cider and bring to a simmer, then add the stock, thyme, and bay leaf and bring back to a simmer.
4. Return the chicken to the pot, skin-side up. Cover and bake until the chicken is tender and falling off the bone, about 40 minutes.
5. Using tongs, transfer the chicken to a platter and tent with foil, then place the pot on the stove. Add the crème fraîche, turn the heat to medium, and whisk until incorporated. Cook, stirring occasionally, until bubbling and thick enough to coat the back of a spoon, 8–10 minutes. (For a thicker, more gravy-like sauce, continue to simmer for up to 10 minutes more.) Discard the bay leaf and thyme sprigs and season with salt and black pepper.
6. Return the chicken to the pot skin-­side up along with the bacon. Garnish with parsley and serve in the pot with lemon wedges and crusty bread on the side. (In an airtight container, leftovers will keep in the fridge for up to 4 days or in the freezer for up to 1 month.)

Recipe adapted from Saveur

Impact Position

While there are a lot of moving parts in the golf swing, only one position truly matters: impact position.

Your impact position is the moment of truth in the golf swing. It’s when the club face meets the golf ball and determines the shot trajectory, plus the direction.

If you hit it low on the face, expect a thin shot (aka two groover). If you hit it on the face, expect a chunked shot that travels a fraction of the distance. Plus, if it’s off the toe, it might draw too much and if it’s off the heel, it might not ever stop slicing.

The best ball strikers in the world master their impact position. They get their weight on their lead side, a square face, hands ahead, and the follow through to a beautiful finish.

If you want to step up your ball striking, it’s time to master their impact position. The best way to learn about this position without hiring a coach is with impact tape.

Tip adapted from theleftrough.com

Have You Created Your IRS Online Account?

The IRS makes it easy to create an online account where you can view all kinds of account information, such as:

• Your payoff amount
• The balance if you owe taxes
• Your payment history
• Key information from your most current tax return
• Payment plan details if you have one
• Select IRS notices
• Economic payments (if you have any)
• Your address on file with the IRS

You can even pay online and receive a digital copy of your most recent tax return transcript.

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

Tip adapted from IRS

Photo of the Week

Hong Kong Harbor

Hong Kong, China

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.