Weekly Market Update

Markets were mixed last week, though persistent pressure on technology stocks made the week feel more challenging for some investors.

The Standard & Poor’s 500 Index lost 0.47 percent, while the Nasdaq Composite Index declined 0.71 percent. The Dow Jones Industrial Average gained 0.41 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, fell 1.58 percent.

Tech Leads Both Ways

The week began with an AI-led rebound as investors looked ahead to a heavy slate of corporate earnings reports. On Tuesday, investors cheered the first wave of corporate results and falling oil prices, which helped boost investor sentiment.

Tech swung back into favor midweek as investors applauded reports that two of the largest megacap tech firms formed a committee to evaluate a potential merger, lifting all three averages. The Nasdaq gained more than 1 percent, while the S&P posted its third straight winning close.

Boomerang Effect

But the boomerang started to come back on Thursday as AI debt worries returned while oil prices rose again amid fresh geopolitical concerns. The Nasdaq slid more than 2½ percent over the session, while the S&P fell more than 1 percent, posting their steepest daily declines since June and July, respectively.

The week wrapped up with technology stocks again in the spotlight due to persistent AI-related worries. The Dow closed Friday down more than 1 percent, while the S&P 500 and Nasdaq were under pressure into the close.

Key Economic Data

Tuesday: Durable Goods. S&P Cotality Case-Shiller Home Price Index. New Home Sales. Consumer Confidence (Conference Board). Federal Open Market Committee (FOMC) Meeting, Day 1.

Wednesday: Trade Balance in Goods. Wholesale Inventories. Retail Inventories. FOMC Meeting, Day 2 / Fed Interest Rate Decision.

Thursday: Gross Domestic Product (GDP). Weekly Jobless Claims. Personal Consumption Expenditures (PCE) Index.

Friday: Employment Cost Index.

Source: Econoday

Companies Reporting Earnings

Monday: Verizon Communications Inc. (VZ), Welltower Inc. (WELL), Cadence Design Systems, Inc. (CDNS)

Tuesday: Visa Inc. (V), The Coca-Cola Company (KO), The Boeing Company (BA), S&P Global Inc. (SPGI), Corning Inc. (GLW), HCA Healthcare, Inc. (HCA)

Wednesday: Alphabet Inc. (GOOG / GOOGL), Microsoft Corporation (MSFT), GE Vernova Inc. (GEV), KLA Corporation (KLAC), Amphenol Corporation (APH), T-Mobile US, Inc. (TMUS), ServiceNow, Inc. (NOW), Fortinet, Inc. (FTNT), Automatic Data Processing, Inc. (ADP), Phillips 66 (PSX), Equinix, Inc. (EQIX)

Thursday: Amazon.com, Inc. (AMZN), Eli Lilly and Company (LLY), Mastercard Incorporated (MA), Intel Corporation (INTC), Merck & Co., Inc. (MRK), Caterpillar Inc. (CAT), Sandisk Corporation (SNDK), Gilead Sciences, Inc. (GILD), Bristol Myers Squibb Company (BMY), Altria Group, Inc. (MO), Stryker Corporation (SYK), Starbucks Corporation (SBUX)

Friday: ExxonMobil Holdings Corporation (XOM), AbbVie Inc. (ABBV), Chevron Corporation (CVX), General Dynamics Corporation (GD)

Source:Zacks.com

Keep Your Leftovers From Drying Out

The next time you reheat meat, pasta, rice, or pizza in the microwave, try this: lay a damp paper towel over your food before heating. This small step traps just enough moisture to keep your leftovers from drying out and becoming rubbery.

Tip adapted from BuzzFeed

Serves: 4-6

Ingredients:

• 4 cup butternut squash, chopped
• 2 cup red apples, chopped
• 1 cup sliced onion
• Olive oil
• Kosher salt
• Freshly ground black pepper
• 6 ounce can of whole coconut milk
• 2limes
• 2 cup chicken broth or stock
• 1 teaspoon freshly minced ginger
• 1 teaspoon Sriracha
• 2 tablespoon Thai red curry paste
• 1 cup red apple, diced
• Pepitas, for serving

Directions

1. Preheat oven to 375° F.
2. Toss butternut squash, the chopped apples, and the onions with a drizzle of olive oil. Season with salt and pepper and roast for 15-20 minutes until tender.
3. Open up the can of coconut milk and scoop out the coconut fat and two tablespoons of the liquid into a small dish. Squeeze the juice of one lime and add a pinch of salt. Whisk and place the coconut-lime cream aside.
4. Combine stock, roasted squash mixture, remaining coconut milk, ginger, Sriracha, Thai curry paste, and juice of one lime into a saucepan. Cook for 5 minutes. Taste for salt. Blend until smooth (in batches, if needed).
5. Heat a frying pan over medium heat, add a drizzle of olive oil and add the diced apple. Sauté for 5-6minutes. Place aside.
6. Toast pepitas in a dry pan until some brown color develops and they slightly puff up.
7. Serve the soup toped with the coconut-lime cream, sautéed apples, and pepitas.

Recipe adapted from Food52

What’s the difference between low compression golf balls vs. high compression?

High compression golf balls offer a lot more control and are ideal for low handicap golfers with fast swing speeds. While lower compression golf balls are much softer, which make them easier to compress more and reach maximum distance. Players who want increased ball speed should play a soft golf ball that is lower compression to get more distance!

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.