Stocks were mixed last week as fresh economic data points and election-related uncertainty slowed market momentum.

The Standard & Poor’s 500 Index fell 0.96 percent, while the Nasdaq Composite Index rose 0.16 percent. The Dow Jones Industrial Average dropped 2.68 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 2.30 percent.

Nasdaq Leads

Stocks were mixed for the first half of the week as investors geared up for a steady stream of Q3 reports. The 10-year Treasury yield continued to trend higher, which caught the attention of some traders.

Markets fell Wednesday morning with news that existing home sales fell to a 14-year low in October; still slowed by higher interest rates, sales are on track for their worst year since 1995. Also, pre-election jitters remained an undertow with traders.

News that durable goods orders rose in September buoyed sentiment a bit. At Friday’s close, the Nasdaq, fueled by technology names, marked its seventh consecutive week of gains but the S&P 500 broke its 6-week winning streak.

Election Focus

With the election cycle in full swing, some traders appear to be preparing for an uptick in volatility in the coming weeks.

In late August, nearly 90 percent of stock traded above their 20-day moving average. However, that momentum has slowed. On Tuesday, Standard & Poor’s reported that the number of stocks above their 20-day moving average fell to nearly 50 percent. Traders may be moving to more of a “risk off” position ahead of November 5.

Tuesday: International Trade in Goods. Consumer Confidence. Case-Shiller Home Price Index.

Wednesday: Gross Domestic Product. Treasury Refunding Announcement. Pending Home Sales. ADP Employment Report.

Thursday: Personal Income and Outlays.

Friday: Employment Situation. ISM Manufacturing Index.

Source: Econoday

Monday: Waste Management, Inc. (WM)

Tuesday: Alphabet Inc. (GOOG, GOOGL), Visa Inc. (V), Advanced Micro Devices, Inc. (AMD), McDonald’s Corporation (MCD), Pfizer Inc. (PFE)

Wednesday: Microsoft Corporation (MSFT), Meta Platforms, Inc. (META), Eli Lilly and Company (LLY), AbbVie Inc. (ABBV), Caterpillar Inc. (CAT), Amgen Inc. (AMGN), Booking Holdings Inc. (BKNG), Automatic Data Processing, Inc. (ADP), Starbucks Corporation (SBUX)

Thursday: Apple Inc. (APPL), Amazon.com, Inc. (AMZN), Mastercard Incorporated (MA), Merck & Co., Inc. (MRK), Uber Technologies, Inc. (UBER)

Friday: Berkshire Hathaway (BRK.A, BRK.B), Exxon Mobil Corporation (XOM), Chevron Corporation (CVX)

Source:Zacks.com

Sources: YCharts.com, October 26, 2024

Weekly performance is measured from the close of trading Friday October 21, to Friday, October 25^th close.

Neck And Shoulder Stretches For Desk Potatoes

Many of us sit at a desk for hours a day and stare at a screen. These easy desk stretches can help:

• Overhead side stretch: Put your arms over your head and lean in one direction while sitting up straight. Repeat on the other side.
• Side-neck stretch: Gently put your hand on the back of your head and guide it to your chest. Then, instead of putting your head straight down, turn it slightly by looking at your thigh.
• Neck-roll stretch: Relax and lean your head forward. Slowly roll your head to one side and hold for about 10 to 20 seconds, then slowly roll it to the other side.
• Upper-trap stretch: Gently pull your head toward each shoulder. Hold on each side for 10 to 20 seconds.

Tip adapted from American Psychological Association

Dan Dan Noodles

Serves: 2

Ingredients:

The Chicken

• 1 4-5 lb. chicken
• 2 tablespoons butter
• 1 yellow onion, peeled and halved
• 1 lemon, halved

The soup

• 2 medium yellow onions
• 4 large carrots
• 4 large stalks celery
• 8 very small new red potatoes or 4 large ones
• 4 tablespoons unsalted butter
• 2 tablespoons all purpose flour
• 1 quart homemade or organic chicken broth
• 2 cups 1%, 2% or whole milk OR light cream
• 2 tablespoons creme fraiche (if you use 1% or 2% milk)
• 1 tablespoon fresh minced dill or 1 tsp. of dried dill
• 1 teaspoon grated lemon rind
• salt and pepper

Directions:

The Chicken

1. Preheat oven to 325 degrees Rinse and pat dry the chicken. Sprinkle cavity with salt & pepper. Squeeze both halves of the lemon into the chicken cavity, then insert the remains and the onion. Sew up the cavity with skewers and cooking twine, dragging the twine around the “ankles” of the bird, making a secure little bundle.
2. Place chicken in a roasting pan OR on a rack in a roasting pan. Smear with the butter, sprinkle with more salt and pepper and put into oven. Cook for 20 minutes, baste and cook for another 20 minutes. Baste and then start checking and basting after every 10 minutes until the juice of the pierced thigh to body joint runs clear ie: no pink in the juice. (Because you will not be “presenting” the chicken it’s not necessary that the skim browns.) Place chicken on a platter to cool. When it is cool enough to handle, remove all the meat from the bones, tearing it into bite size pieces. Discard the skin and if you wish to make your own chicken stock, save the bones.

The soup

1. Peel onions and chop into bite size pieces.
2. Scrape carrots and cut lengthwise into at last 4 strips. Then cut the strips into 1 1/2-2 inch sticks.
3. Slice celery stalks in half and then cut, on the diagonal, into sticks similar in length to the carrot sticks.
4. Wash and scrub potatoes. Cut little ones in half, alternately cut large ones into quarters.
5. In a large saucepan (4 qt.) melt the butter and add the prepared vegetables. Over low/medium heat, gently cook (sweat) for approximately 5 minutes.
6. Add the flour and stir well for another 5 minutes.
7. Slowly pour in the chicken broth/stock stirring the whole while. Simmer while stirring for another 5 minutes. You should have an only slightly thickened (but chunky with the vegetables) soup at this point.
8. Add the milk (and the creme fraiche if you’re using 1% or 2% milk), the dill and the lemon rind. Cook for another 5 minutes. Taste and add salt and pepper if desired.
9. Add chicken to the pot and stir well. Turn off the heat and let sit for an hour or longer. Reheat before serving.

Recipe adapted from Food 52

Random Practice

Random practice is another common way to improve your game by switching up targets and clubs. For example, this might mean hitting a pitching wedge at one target, then grabbing a 5-iron and hitting at a different target.

Many golf professionals and players think this is more effective than block practice. Richard Schmid, Ph.D. discusses this concept more in a Golf Digest article.

“Have you ever wondered why you stripe shot on the range but then fall apart on the course. It’s probably because you’re practicing to be a good practitioner and not preparing for a round of golf.”

Later saying, “Blocked practice eliminated the learner’s need to ‘solve’ the problem on every trial and the need to practice the decision-making required during a typical round of golf.”

Schmidt argued that block practice is good for beginners who need to learn the game and fundamentals. But once the skills are acquired, random practice is more beneficial and effective.

Tip adapted from theleftrough.com

Is Your Office In A Historic Building? You May Be Eligible For A Tax Credit

To protect heritage sites and other history, the IRS implemented its rehabilitation tax credit, which offers an incentive to renovate and restore old or historic buildings. Here are some of the highlights to help you determine whether your building is eligible:

• The credit may pay 20 percent of the qualifying costs of rehabilitating a historic building.
• This 20 percent needs to be spread out over five years.
• The credit doesn’t apply to the purchase of the building.
• Taxpayers use Form 3468, Investment Credit, to claim the rehabilitation tax credit.

Although this credit might not significantly improve many situations, it’s still a step toward preserving our country’s history.

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

Humpback whale (Megaptera novaeangliae) breaching among of icebergs at Ilulissat Icefjord

Unesco World Heritage Site, Greenland

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.