Stocks notched their eighth straight week of gains heading into the holiday-shortened week. While trading was generally light, investors remained bullish toward stocks as traders clung to the hope that the economy has survived the restrictive inflation-reducing policy of the Federal Reserve. The S&P 500 enjoyed its longest weekly winning streak since late 2017, while […]
Read MoreMonth: December 2023
Retirement Plan Limits for 2024
Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024. How much can you save in an IRA? The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2024 will be $7,000 (or 100% of your earned […]
Read MoreThe Markets (as of market close December 15, 2023)
Last week saw stocks rally after the Federal Reserve policy statement released last Wednesday suggested no more interest rate hikes, while predicting rate cuts in 2024 (see below). Despite losing momentum at the end of the week, stocks enjoyed their seventh consecutive week of gains, with the S&P 500 marking its longest winning streak since […]
Read MoreTransfer of Clean Vehicle Tax Credit to Dealer as Payment for the Vehicle
Federal tax credits may be available to help offset your cost to purchase certain clean vehicles (including electric, plug-in hybrid, and fuel cell vehicles). Starting in 2024, you may be able to elect to transfer the new and previously-owned clean vehicle tax credits to dealers who are eligible to receive advance payments of either credit. […]
Read MoreThe Markets (as of market close December 8, 2023)
The first week of December saw stocks close higher. Megacaps fueled much of the increase. A better-than-expected jobs report (see below) encouraged investor sentiment about a soft landing for the economy, while cooling expectations of an early cut in interest rates by the Federal Reserve. Each of the benchmark indexes listed here ended last week […]
Read MoreAfter a Surprising 2023, a Cautiously Optimistic Economic Outlook for 2024
Despite high interest rates and unsettling geopolitical conflict, the U.S. economy outperformed the expectations of most economists in 2023.1 Inflation-adjusted gross domestic product (Real GDP) accelerated to an annualized rate of 5.2% in the third quarter, after growing 2.1% in Q2 and 2.2% in Q1. Inflation, as measured by the 12-month change in the price index […]
Read MoreThe Markets (as of market close December 1, 2023)
The markets continued to flourish last week. Investors were not deterred by a warning from Federal Reserve Chair Jerome Powell that interest rate hikes may not be over, and it is premature to speculate when rate decreases will begin. The S&P 500 and the Dow reached new 2023 highs, while the Nasdaq posted solid returns […]
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