July 2023 - The Trust Company of Kansas

The Markets (as of market close July 28, 2023)

Stocks enjoyed a favorable week of returns, with each of the benchmark indexes listed here posting solid gains. The Dow and the S&P 500 notched their third straight week of gains. Inflation continued to cool in June, with the smallest 12-month rate increase since March 2021 (see below). So far, corporate earnings for the second […]

RMD Relief and Guidance for 2023

In early 2022, the IRS issued proposed regulations regarding required minimum distributions (RMDs) to reflect changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. The IRS has held off on releasing final regulations so that it can address additional changes to RMDs made by the SECURE 2.0 Act of […]

The Markets (as of market close July 21, 2023)

Last week saw stocks close generally higher, with only the tech-heavy Nasdaq slipping lower. The Dow extended its winning streak to 10 straight sessions, its longest run since August 2017. Investors, probably anticipating another 25.0 basis-point hike from the Federal Reserve this week, moved from information technology, communication services, and consumer discretionary shares to more […]

2024 Key Numbers for Health Savings Accounts

The IRS recently released the 2024 contribution limits for health savings accounts (HSAs), as well as the 2024 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). What is an HSA? An HSA is a tax-advantaged account that enables you to save money to cover health-care and medical costs that your insurance doesn’t […]

The Markets (as of market close July 14, 2023)

Wall Street enjoyed a positive week of returns, with each of the benchmark indexes posting solid gains, despite a marginal downturn at the end of last week. The financial sector began releasing quarterly updates last Friday as investors focused on the state of the banking industry. A few major banks reported increasing profits in the […]

U.S. Supreme Court Blocks Student Loan Cancellation, Payments to Resume

Three important developments occurred recently in the world of federal student loans: the U.S. Supreme Court blocked an executive order offering loan cancellation to certain borrowers; Congress set an expiration date for the payment moratorium that has been in effect since March 2020; and new student loan interest rates have been set for the 2023–2024 […]

The Markets (as of market close July 7, 2023)

Stocks fell for the second straight week, with each of the benchmark indexes losing ground. The Dow led the declines, followed by the Global Dow, the Russell 2000, the S&P 500, and the Nasdaq. Although the employment report for June (see below) showed a moderate decline in the number of new jobs added, wages continued […]

The Markets (as of market close June 30, 2023)

Stocks moved higher last week as favorable inflation data added to investor hopes that the Federal Reserve would relax its monetary policy, despite Fed Chair Powell’s statement that at least two more rate hikes are in the offing prior to the end of the year. The small caps of the Russell 2000 performed the best, […]