Weekly Update as of market close June 26, 2020

The week began with the stock market picking up where it left off the previous week. Each of the benchmark indexes listed here advanced in value, led by the tech-heavy Nasdaq, which jumped 1.10%, pushed higher by Amazon and Adobe. Last Monday’s run marked the seventh straight advance for the Nasdaq — its longest rally […]

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Social Security and Medicare Face Financial Challenges

Most Americans will eventually receive Social Security and Medicare benefits. Each year, the Trustees of the Social Security and Medicare Trust Funds release lengthy reports to Congress that assess the health of these important programs. The newest reports, released on April 22, 2020, discuss the current financial condition and ongoing financial challenges that both programs […]

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Weekly Update as of market close June 19, 2020

Equities began the week edging higher following the Federal Reserve’s announcement that it would buy corporate bonds under an emergency lending program. The Russell 2000 closed up 2.3%, the Nasdaq gained 1.4%, while the S&P 500 and the Dow eked out gains of less than 1.0%, respectively. After last week’s tailspin, crude oil prices rebounded […]

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Weekly Update as of market close June 12, 2020

Last week began with a bang for stocks as each of the indexes gained well over 1.0% for the day. The S&P 500, after climbing 1.2%, has picked up nearly 45.0% since its 2020 low, pushing it into the black for the year. The Nasdaq rose to a record high while the Dow and Russell […]

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U.S. Government Sends Millions of Economic Impact Payments by Prepaid Debit Cards

In May 2020, the IRS sent Economic Impact Payment (EIP) prepaid VISA debit cards to individuals who qualified for a stimulus payment under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and didn’t receive a payment via direct deposit. How is the card activated? The Economic Impact Payment Card (EIP Card) arrives in a […]

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Weekly Update as of market close June 5, 2020

Despite nationwide protests and U.S.-China tensions, stocks rose to start the week. Apparently, investors focused on progress toward economic recovery instead of other pressing issues. Of the benchmarks listed here, the small caps of the Russell 2000 and the tech-heavy Nasdaq led the way, each gaining more than 0.60% by the end of trading last […]

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Turning Art into Cash without Selling

           Auction house Sotheby’s reports a surge in customers who are borrowing using their fine art or jewelry as collateral [www.sothebys.com/en/articles/creating-liquidity-from-art-during-challenging-times]. Many auctions necessarily have been postponed due to the pandemic, although that has been offset to some extent by a record number of online auctions conducted by Sotheby’s.                   One major reason for such borrowing […]

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Weekly Update as of market close May 29, 2020

With the stock market closed last Monday in observance of Memorial Day, Tuesday’s trading led to solid returns for each of the benchmark indexes listed here. The S&P 500 climbed past the 3000 mark for the first time since March, only to trickle below by the end of the day. The small caps of the […]

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