Weekly Market Update

The Week on Wall Street

Stocks fell over a shortened trading week as higher oil prices rattled investors.

The Standard & Poor’s 500 Index declined 0.80 percent, while the Nasdaq Composite Index edged down 0.66 percent. The Dow Jones Industrial Average fell 1.57 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, skidded 1.39 percent.

Sluggish Start

Stocks fell in response to higher oil prices at Tuesday’s opening bell as investors returned from the long Labor Day weekend. Investors kept one eye on diplomatic efforts in the Middle East and another on fresh inflation reports due out later in the week.

Stocks were under pressure again on Wednesday as oil prices continued climbing. After the Treasury Department announced it was tripling its long-dated debt buyback program (to as much as $6 billion), the yield on the 10-year Treasury note rose to a 3-year high. Investors continued to fret over inflation as the week progressed, putting further pressure on stocks.

On Friday, stocks rebounded after news that annualized inflation held steady in August, puzzling some who expected stocks to decline. Oil prices fell, and markets rebounded to finish a tough week on an upbeat note.

Inflation Reports

Wholesale inflation was released on Thursday; PPI, or the Producer Price Index, rose 0.4 percent in August over the prior month, in line with expectations. Stocks were under pressure despite the tame results.

But on Friday, the latest CPI (Consumer Price Index) report showed that year-over-year retail inflation in August held steady at 3.4 percent. Traders appeared to look past the report, with the question shifting from whether the Fed will adjust rates this year to how many times the Fed may need to act.

Key Economic Data

Tuesday: Federal Open Market Committee (FOMC) Meeting, Day 1.

Wednesday: Federal Open Market Committee (FOMC) Meeting, Day 2. Retail Sales. Import Prices. Manufacturing & Trade Inventories. NAHB Housing Market Index. Fed interest rate decision.

Thursday: Housing Starts. Weekly Jobless Claims. Pending Home Sales.

Friday: Industrial Production. Capacity Utilization. Leading Indicators.

Source: Econoday

Companies Reporting Earnings

No major companies are reporting this week.

Source:Zacks.com

Strength Training Strategies For Every Level

If you would like to build muscle mass, sometimes the simplest strategies are optimal. For example, becoming proficient at the “big four” exercises can help you create a strong (literally) foundation. These four moves include the squat, deadlift, bench, and shoulder press. You can work on some of your body’s major muscle groups with these simple movements.

Another strategy involves using dumbbells and barbells. While the fancy machines in the gym may seem fun and enticing, mastering the foundational movements with free weights requires skill. Free-weight and bodyweight training are among the most effective and simplest exercises.

Lastly, maintain a log and track your progress. Even doing one more rep or lifting five more pounds counts as progress. These achievements will keep you motivated and make it easier to track your progress as you get stronger.

Tip adapted from Men’s Journal

Serves: 2-4 People

Ingredients:

• 6bone-in, skin-on chicken thighs
• Salt, plus more to taste
• Freshly ground black pepper, plus more to taste
• 3-4small Yukon gold potatoes (about 3/4 pound total)
• 1zucchini, sliced into half moons, about 1-inch thick
• 1large handful cherry tomatoes, sliced in half
• 3cloves garlic, minced
• 1 tablespoonfresh oregano, minced, plus an extra pinch for garnish
• Juice of 1 lemon (optional)

Directions:

1. Preheat your oven to 400°F. Set a large skillet over high heat, and add just enough canola oil to cover the skillet. As the oil is getting hot, season the chicken front and back with salt and freshly ground black pepper. When the skillet is hot, add the chicken skin-side down. Your skillet should be large enough to hold all the chicken in a single even layer.
2. Sear the chicken over high heat for about 8 to 10 minutes, until the skin is a deep golden brown. To check how the chicken is cooking, I like to use a metal fish spatula. It allows you to scrape under the chicken and unstick it from the skillet without tearing the delicious chicken skin.
3. While the chicken is cooking, cut your potatoes into bite-size pieces. When the chicken skin is a deep golden brown, flip the chicken and cook it for 5 minutes on the flesh side. Remove the chicken from the skillet and set it aside on a plate. Add the potatoes and cook for about 10 to 12 minutes, stirring occasionally. You’re aiming to get the potatoes lightly golden brown on all sides.
4. When the potatoes are lightly golden brown on all sides, add the zucchini. Stirring occasionally, cook the zucchini for about 5 minutes, until the zucchini is beginning to caramelize. The metal fish spatula is good for gently flipping the potatoes and zucchini, stirring them gently so that they don’t get smashed.
5. When the zucchini is beginning to caramelize, add the tomatoes, garlic, and oregano. Reserve a little oregano to garnish the final dish. Stir the veggies gently, and season them with salt and freshly ground black pepper. Add the chicken back to the skillet so that it’s resting atop the veggies, skin-side up. Place the skillet in the oven and cook for about 10 minutes, or until the internal temperature of the chicken is 165°F.
6. When the chicken is fully cooked, remove the skillet from the oven and garnish with the remaining oregano. If you’re feeling relaxed, serve the chicken straight out of the skillet and enjoy. If you’re feeling like you wanna flex your chef muscles, transfer the chicken and veggies to a large platter. Add the juice of one lemon to the empty skillet, scraping the bottom to release any caramelized bits. Drizzle the contents of the skillet over the chicken and veggies. Enjoy!

Recipe adapted from Food52

Always Use a Tee

By using a tee and getting the ball off the ground, you’re giving yourself a better chance to succeed. Tiger said in his book that he always tees the ball up on par 3’s, even if it’s a wedge.

He claims that it plays a big role in helping guarantee solid contact. If it works for one of the best iron players in the world, I would say it will work for you too.

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.