The MSCI EAFE Index, which tracks developed markets outside of the United States, advanced 15% in 2023, while U.S. stocks in the S&P 500 Index returned 24%.1 One of the world’s hottest developed stock markets was in Japan, where the Nikkei 225 rose 28% in 2023, delivering the best performance in Asia.2 On the other hand, in […]
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The Markets (as of market close March 29, 2024)
Stocks finished the month of March in solid fashion. Each of the benchmark indexes listed here posted gains, with the exception of the Nasdaq. Bond yields dipped lower. Crude oil prices advanced, while energy shares ended up being a top performer. The dollar inched higher, while gold prices continued to climb. Investors seemed to take […]
Read MoreThe Markets (as of market close March 22, 2024)
Despite a dip last Friday, stocks closed out last week higher. The S&P 500 recorded its biggest weekly percentage gain of the year, while the Dow and the Nasdaq hit record highs. Investors gained a bit of encouragement after the Federal Reserve maintained projections for three interest rate cuts by year’s end. Each of the […]
Read MoreThe Markets (as of market close March 15, 2024)
Equities closed lower for the second straight week, with the Russell 2000 losing nearly 2.0%. A sell-off in tech shares pulled the Nasdaq down 0.7%, marking the first back-to-back weekly losses since last October. Higher-than-expected inflation data may have raised investor concerns that the Federal Reserve may keep interest rates elevated for longer than hoped […]
Read MoreFederal Income Tax Returns Due for Most Individuals
The federal income tax filing deadline for individuals is generally Monday, April 15, 2024. The deadline is April 17, 2024, for taxpayers living in Maine or Massachusetts. The IRS has postponed the deadline to file federal income tax returns and make tax payments for certain disaster-area taxpayers. The current list of eligible localities and other […]
Read MoreThe Markets (as of market close March 8, 2024)
Wall Street fell from record highs to close generally lower last week. A better-than-expected jobs report (see below) helped support the notion that the economy remains strong and that the Federal Reserve will likely cut interest rates, possibly after their June meeting. However, the unemployment rate ticked up for the first time in four months. […]
Read MoreCan Productivity Keep Driving the U.S. Economy?
Productivity of U.S. workers increased by 2.7% in 2023 — well above the average annual rate of 2.1% since the end of World War II, and a dramatic change from 2022, when productivity dropped by 2.0%. It’s also a big improvement over the 0.9% growth rate in 2021.1 According to the nonpartisan Congressional Research Service, […]
Read MoreThe Markets (as of market close March 1, 2024)
Wall Street continued its February rally into March as stocks closed last week notably higher with the exception of the Dow, which ticked lower. Investor enthusiasm about tech shares, particularly AI stocks, helped drive the upturn. Inflation data also was positive. While consumer prices ticked up in January, the 12-month rate actually declined, lessening concerns […]
Read MoreTax Relief Legislation in Progress
Legislation that could benefit parents and business-owners is currently moving through Congress. The House has passed the Tax Relief for American Families and Workers Act of 2024. It now faces an uncertain future in the Senate. The legislation would make changes to the child tax credit and to certain business tax provisions. Some significant provisions […]
Read MoreThe Markets (as of market close February 23, 2024)
Stocks advanced last week, driven higher by tech shares that were bolstered by favorable corporate earnings reports. The Dow, the Nasdaq, and the S&P 500 posted weekly gains for the 16th time out of the last 18 trading weeks. Among the benchmark indexes listed here, only the small caps of the Russell 2000 closed the […]
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