Stocks moved lower last week as investors swung from exuberance to disappointment on news over tariffs and inflation.

The Standard & Poor’s 500 Index fell 1.53 percent, while the Nasdaq Composite Index retreated 2.59 percent. The Dow Jones Industrial Average slid 0.96 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, declined 1.29 percent.

An Up and Down Week

Stocks started the week with a sharp rally after the White House said it may “give a lot of countries breaks” on reciprocal tariffs. The positive momentum continued into Tuesday, with the Nasdaq and S&P 500 outpacing the Dow.

Then, midweek, news that the White House was planning additional tariffs on all cars made outside the U.S. rattled markets.

On Friday, investors reacted to a warmer-than-expected inflation report and lower consumer sentiment, putting further pressure on stocks as the week closed.

Noise Vs Signal

There can be a lot of noise in the market from time to time. This can make it hard for investors to interpret information as they search for the actual signal.

Last week, investors were trying to interpret the White House decision to impose tariffs on all cars and some car parts made outside of the U.S. While some automakers are domestic and others are foreign-based, the question is whether companies will absorb the additional costs, pass them on to consumers, or look to build factories in the United States.

Separating the noise from the signal may take time, which can be more challenging when the markets react to new tariff updates as they are announced.

Tuesday:  ISM Manufacturing Index. PMI Manufacturing. Construction Spending. Job Openings.

Wednesday:    ADP Employment Report. Motor Vehicle Sales. Factory Orders. Fed Official Adriana Kugler speaks.

Thursday:   Jobless Claims. ISM Services Index. Fed Balance Sheet. International Trade in Goods & Services. Fed Officials Philip Jefferson and Lisa Cook speak.

Friday: Employment Situation. Fed Officials Michael Barr and Christopher Waller speak.

Source: Econoday

No major companies are reporting this week.

Source:Zacks.com

Sources: YCharts.com, March 29, 2025

Weekly performance is measured from the close of trading Monday March 24, to Friday, March 28 close.

Improve Your Swimming With Masters Swim

Swimming is a fantastic full-body, low-impact workout for people of all ages. Check out US Masters Swimming for a club near you as the weather warms up! USMS is an organized swimming club for swimmers of all levels. Swimming with a Masters club is a great way to build camaraderie, meet new friends, get better at swimming, and enjoy a great workout. There are clubs all over the country, likely at a pool near you, which you can find through the Club Finder tool on the USMS website. The coaches will help you start (and stick with) a swimming routine, improve your stroke, and learn more about the sport.

Tip adapted from US Masters Swimming

Potato Salad With 7-Minute Eggs and Mustard Vinaigrette

Serves: 8

Ingredients:

• 2½ pounds new or baby Yukon Gold potatoes, scrubbed
• 4 large eggs, room temperature
• 1 teaspoon mustard seeds
• 3 tablespoons apple cider vinegar
• 2 tablespoons whole grain mustard
• 1 teaspoon honey
• ⅓ cup olive oil
• Kosher salt and freshly ground black pepper
• 1 cup parsley leaves with tender stems
• 3 tablespoons coarsely chopped dill pickles
• 2 tablespoons chopped fresh chives

Directions:

1. Steam potatoes, covered, in a metal steamer basket set in a large pot over boiling water until tender, 20–30 minutes, depending on size. Transfer to a plate and let cool.
2. Meanwhile, cook eggs in a large saucepan of boiling water until whites are set and yolks are still slightly soft, 7 minutes. Drain; transfer eggs to a bowl of ice water and chill until cold. Drain and peel; set eggs aside.
3. Toast mustard seeds in a dry small skillet over medium-low heat, tossing constantly, until seeds start to pop, about 1 minute. Transfer to a small bowl (be ready with bowl; once seeds get going, it’s chaos).
4. Whisk vinegar, mustard, and honey in a large bowl. Whisking constantly, gradually add oil; whisk until emulsified. Season with salt and pepper. Set 3 Tbsp. vinaigrette aside for drizzling.
5. Halve potatoes and add to bowl with vinaigrette. Add parsley and toss to coat; season with salt and pepper. Transfer to a platter. Halve reserved eggs and tuck in between potatoes. Drizzle with reserved vinaigrette. Top with pickles, chives, and toasted mustard seeds.

Do Ahead: Eggs can be boiled 1 day ahead; drain, cover, and chill. Peel just before using. Vinaigrette can be made 3 days ahead; cover and chill.

Recipe adapted from Bob Appetit

How to Play Golf on a Budget

1. Buy used golf clubs: The only clubs you should avoid buying used are wedges, as the groove get worn down and it’s harder to create backspin which is needed to play your best golf.
2. Buy last year’s model: Buying last year’s model often has nearly the same results and a significantly lower priced tag.
3. Sell old golf clubs: The easiest way to sell golf clubs is online through a local marketplace.
4. Play the right time of day: Morning weekend times are typically the most expensive.
5. Find summer or winter passes: Depending on where you live a lot of public golf courses offer summer or winter passes to save money.
6. Get online or group golf lessons: Don’t forget about the power of YouTube and social media. There is an endless amount of content to help with all parts of your swing.
7. Pack your own food and drinks: One of the most overpriced things during a round of golf is food and drinks.
8. Practice short game more often: Most golf courses allow you to practice at the short game area for free.
9. Practice in the backyard: Avoid paying for a bucket of balls at the range and set up your own backyard practice area. You can work on your game and even build your own simulator.
10. Skip the cart: Cart fees can add up if you play a lot of golf.
11. Consider joining a country club: If you’re playing a lot you might actually save money by joining a club as you only have a set membership fee.

Tip adapted from theleftrough.com

Things You Can Do On The IRS Website

While the IRS website might not be in your top bookmarks, the website is helpful for a lot of things regarding taxes. Here are just a few things you can do on the site:

• Use Free File to access brand-name tax software and online fillable forms.
• Use the IRS e-file system: a safe, easy, and common way to file your tax return.
• Check the status of your tax refund.
• Find out how to make payments electronically to pay your federal taxes. You can use a credit or debit card or enroll in the US Treasury’s Electronic Federal Tax Payment System to pay your taxes.
• Get tax forms and publications, including helpful tips for frequently asked questions.

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

Llama Guanaco

Torres del Paine National Park, Chile

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.