Stocks posted modest gains last week, with quarterly earnings season in full swing and the election on the horizon.

The Standard & Poor’s 500 Index increased 0.85 percent, while the Nasdaq Composite Index rose 0.80 percent. The Dow Jones Industrial Average advanced 0.96 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, fell 0.31 percent.

Six In A Row

Stocks bolted out of the gate as the week began. The S&P 500 and the Dow Industrials hit record highs, with the Dow crossing 43,000 for the first time.

Midweek, news of stronger-than-expected retail sales report contributed to overall market momentum. Retail sales rose a seasonally adjusted 0.4 percent in September, topping economists forecasts.

As the week wrapped up, the technology sector helped fuel a rally that pushed the S&P and Nasdaq to another record high. It was the sixth straight week of gains for the S&P 500, Nasdaq, and Dow Industrials.

Insight From Corporate Reports

There were many market forces pushing each other around last week.

Corporate earnings reports drove much of the market action. Some of the most extensive financial stocks surprised on the upside, supporting a narrative that the economy remains strong.

At the same time, a corporate report from one of the world’s largest chip manufacturing contractors revealed continued strong global demand for AI microchips. However, increasing investor anxiety was a constant undertow in trading as the November elections drew nearer.

Monday: Fed Officials Lori Logan, Neel Kashkari, and Jeffrey Schmid speak.

Tuesday: Fed Official Patrick Harker speaks.

Wednesday: Existing Home Sales. Beige Book. Fed Officials Michelle Bowman and Thomas Barkin speak.

Thursday: New Home Sales. Weekly Jobless Claims. Fed Official Beth Hammack speaks.

Friday: Durable Goods. Consumer Sentiment.

Source: Econoday

Tuesday: GE Aerospace (GE), Philip Morris International Inc. (PM), Verizon Communications Inc. (VZ), Texas Instruments Incorporated (TXN), RTX Corporation (RTX), Lockheed Martin Corporation (LMT), Fiserv, Inc. (FI)

Wednesday: Tesla, Inc. (TSLA), The CocaCola Company (KO), T-Mobile US, Inc. (TMUS), Thermo Fisher Scientific Inc. (TMO), International Business Machines Corporation (IBM), ServiceNow, Inc. (NOW), AT&T Inc. (T), Boston Scientific Corporation (BSX), The Boeing Company (BA)

Thursday: Amazon.com, Inc. (AMZN), S&P Global Inc. (SPGI), Union Pacific Corporation (UNP), United Parcel Service, Inc. (UPS)

Source:Zacks.com

Sources: YCharts.com, October 19, 2024

Weekly performance is measured from the close of trading Friday October 14, to Friday, October 18^th close.

The Benefits Of Brain Training

We know how important it is to exercise our bodies, but exercising our brains is just as important. When we continue to learn, our brains are better for it. Here are just a few benefits of “brain training,” or exercising your brain:

• Improved executive functions
• Improved working memory
• Improved processing speed
• Preserved cognitive health
• Fewer problems with daily functioning
• Better control over mental processing abilities

There are many fun ways to exercise your brain, one of which is to continue learning new things. Attend a pottery, painting, or foreign language class in your neighborhood, or check for discounts on community college courses. Another great way to exercise your brain is to socialize with others, spend time in nature, and practice mind puzzles, such as crosswords, Sudoku, or a game in a brain-training app.

Tip adapted from American Psychological Association

Dan Dan Noodles

Serves: 2

Ingredients:

For The Sauce:

• 3 tablespoons sesame paste
• 3 tablespoons chili oil (or more if you like spicier!)
• 5 tablespoons soy sauce
• 2 tablespoons black vinegar
• 1 tablespoon sesame oil
• 1 teaspoon granulated sugar
• 1 teaspoon garlic, grated
• 1/2 teaspoon Sichuan peppercorn, freshly ground
• 1/4 teaspoon MSG

For the pork:

• 1 tablespoon neutral oil
• 8 ounces ground pork
• 2 scallions, white part only, thinly sliced
• 1 teaspoon ginger, minced
• 1/4 cup ya cai (preserved mustard greens), chopped
• 2 tablespoons Shaoxing wine
• 2 tablespoons hoisin sauce
• 1 teaspoon light soy sauce
• 1 teaspoon dark soy sauce

To Assemble:

• 2 servings of fresh white noodles
• 6 stalks choy sum
• 1/4 cup cucumber, julienned
• 2 scallions, green part only, thinly sliced
• 3 tablespoons toast peanuts, chopped
• Chili oil, to serve

Directions:

1. In a medium bowl, mix all sauce ingredients until smooth, taste to adjust seasoning as desired. Set aside.
2. Heat oil in a wok over medium heat. Cook pork, breaking it up with a wooden spoon until fat starts to render and is mostly cooked through. Add white part of scallions, ginger, and ya cai to the wok and cook until the pork slightly browns. Deglaze the wok with Shaoxing wine and continue to cook until the liquid is mostly evaporated. Add hoisin, light soy, and dark soy to the pork and cook for another 2 minutes.
3. Cook noodles according to package directions. Blanch choy sum while cooking noodles and transfer to a plate. Drain noodles and save ½ cup of noodle cooking liquid. Transfer noodles to the sauce, add ¼ cup cooking liquid and vigorously toss until noodles are fully coated and look glossy. (If needed add more cooking liquid, 1 tbsp at a time to loosen up the sauce.)
4. Divide the noodles among bowls, add the choy sum, and cook the pork over top. Arrange cucumbers on the side and top each bowl with the green part of the scallion, peanuts, and more chili oil if desired.

Recipe adapted from Food 52

Block Practice for Golf: Mastery through Repetition

Block practice is arguably the most common type of practice. Blok practice is when you it the same shot, at the same target, over and over again.

Block practice is a great way to ingrain technique and master the basics. A lot of experts argue that block practice is key for beginners, as repetition is the mother of all mastery (in golf and in any other sport).

However there is one downside to this type of practice – it’s easy to mindlessly  hit range balls without any purpose. Which can create some bad habits and/or not be a ton of fun, so you’re less likely to keep practicing.

To make the most of block practice, make sure to:

• Take regular breaks. Hit five golf balls, rest for a minute, then start hitting again.
• Get clear about your targets. Use alignment aids in practice and record your swing to make sure you’re setting up correctly to use the target.
• Use your pre-shot routine. If you’re a great range player but struggle on the course, you might need to practice your routine more often. Use it every few swings so it translates to the golf course.

Tip adapted from theleftrough.com

Tax Incentives Can Help You Further Your Education

Tax credits help with the cost of higher education by managing the income tax you may need to pay. The two tax credits available are the American Opportunity Tax Credit and the Lifetime Learning Credit.

Some education savings plans offer tax benefits if the individual qualifies. Also, you may be able to deduct higher education costs – such as tuition, student loan interest, and qualified education expenses – from your tax return.

Knowing your potential tax benefits may save you money if you’ve always dreamed about returning to school, whether to further your career or just learn something new.

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

Two lions (Panthera leo) resting high up in a tree

Moremi Game Reserve, Okavango Delta, Botswana

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.