Dow, S&P 500 Extend Win Streaks
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BI-WEEKLY UPDATE - NOVEMBER 12, 2019
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The Week on Wall Street
Domestic and international stocks rose last week. Risk appetite outweighed concerns about the state of U.S.-China trade discussions. The Dow Jones Industrial Average, Nasdaq Composite, S&P 500, and MSCI EAFE all ended the week with gains.
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Will Tariffs Phase Out or Remain?
Thursday, a spokesman for China's commerce ministry said that U.S. and Chinese trade representatives had "agreed to remove" existing tariffs in "phases," while working toward a new trade deal.
On Friday morning, President Trump told the media that he had not agreed to any such condition. President Trump and Chinese President Xi Jinping are still expected to sign off on "phase one" of a new bilateral trade agreement.[4]
Service Sector Activity Picks Up
A closely watched index of U.S. business activity posted an October gain. The Institute for Supply Management's Purchasing Managers Index for non-manufacturing firms rose nearly two points last month to 54.7. ISM also noted an October increase for new orders.
As most U.S. companies provide services rather than manufacture products, this news is encouraging and suggests more momentum in that sector.[5]
Final Thought
Monday is Veterans Day; the stock market will be open, but the bond market, plus all federal government offices, will be closed.
THE WEEK AHEAD: KEY ECONOMIC DATA
Wednesday: Federal Reserve Chairman Jerome Powell begins two days of testimony on the country's economic outlook in Congress, and the Bureau of Labor Statistics presents new inflation data in the October Consumer Price Index.
Friday: October retail sales figures arrive from the Census Bureau.
Source: Econoday, November 8, 2019
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
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Our annual toy drive is now in full swing. Help us bring holiday magic to needy children in the community at Sts. Teresa & Bridget Parish in North St. Louis. This is our 10th annual toy drive and we now serve over 200 families with your help each year.
Please consider donating new or gently-used, unwrapped toys.
Need ideas? Check out our
Amazon Wish list
, or ask the experts - the children in your life.
We will be collecting toys until December 6. You can drop your donations off at our office, as well as at Dudas Fitness, Nutrition Stop, Rosciglione Bakery, Thies Farm, or Cutter & Company. If you drop them off at our office, please knock, since our policy is to keep our doors locked for the safety of our employees and the security of your information.
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November 1 - December 6: Holiday Magic Toy Drive
Please consider donating a toy to a needy child during our annual Holiday Magic Toy Drive.
November 28 & 29: Office Closed
Blattel & Associates will be closed for the Thanksgiving holiday.
December 6: Holiday Open House
Blattel & Associates invites you to celebrate the season with light refreshments and good conversation from 3:30 pm until 6:30 pm on Friday, December 6.
December 20: Office Closes at 11 am
Blattel & Associates closes early to celebrate the holiday with their staff.
December 24 & 25: Office Closed
Blattel & Associates will be closed for the Christmas holiday.
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- Allow for extra time. Please remember that the holiday season will affect timing on withdrawals and other transactions. Please allow for extra time to process your requests from now until the end of the year. Also, be aware that there are typically deadlines ahead of December 31 for certain activities to be reported for the 2019 tax year.
- Contributions to IRAS & Roth IRAs. In 2019, you can contribute a maximum of $6,000, or $7,000 if you are age 50 or over. Remember, you have to have taxable income to contribute to an IRA, but if you are married and filing jointly, you can each make contributions even if only one of you is working. Speak to a tax advisor to learn about how your deductions will be affected by an employer-sponsored retirement plan.
- Take your RMD. If you are at least age 70½, you are required to take minimum distributions from your traditional IRA - but not your Roth. You are generally required to take RMDs by December 31, though you have until April 15, 2020 if you turned 70½ in 2019. Please make sure to verify that you have taken your RMD from any IRA accounts that are not managed by us.
- Report your QCD. This is an early reminder that, if you took a qualified charitable distribution in 2019, you are responsible for reporting that amount to your accountant.
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"Brave men rejoice in adversity, just as brave soldiers triumph in war."
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Lucius Annaeus Seneca
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WWII "Soldier Kisses" Cookies
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These super simple cookies date back to WWII and are just as delicious today. Celebrate Veterans Day by honoring those who serve with these tasty treats.
[24 servings]
Ingredients:
- 2 egg whites
- 1 cup of brown sugar
- 2 cups of walnuts, finely chopped
Directions:
- Preheat the oven to 350° F.
- Beat the egg whites until light and frothy.
- Beat in the sugar slowly until combined.
- Continue to mix until the mixture is thick and shiny.
- Lightly fold in the walnuts.
- Scoop teaspoon-sized cookies onto the cookie sheet and bake for 40 minutes.
Recipe adapted from All Recipes[6]
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Get Your Daily Dose of Vitamin D, Even in the Winter
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Vitamin D is the vitamin we produce when our skin is exposed to UV rays from the sun as well as certain dietary sources, and many people are actually vitamin D deficient (even if they live in a sunny part of the country). As winter approaches, it might seem hard to get your daily dose of vitamin D, but luckily, there are plenty of ways to get this important nutrient.
Eating vitamin D-rich foods is the best way to get the nutrient during the winter months. These foods include fatty fish (like salmon), mushrooms, eggs, and milk (and milk alternatives, such as soymilk) fortified with vitamin D. Just 4 ounces of salmon have 265% of the dietary reference intake (DRI) of vitamin D, which means that just 2.5 servings of salmon a week would get you all the vitamin D you need. If you don't like fish, milk and eggs are another great option.
If you're concerned that you might have a vitamin D deficiency, call your doctor and talk to them about how to get checked for one. They can provide you with more information and alternate methods to increase your blood levels of vitamin D, if needed.
Tip adapted from Intermountain Healthcare
[9]
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[4] www.cnbc.com/2019/11/08/trump-says-he-has-not-agreed-to-roll-back-tariffs-on-china-after-week-of-trade-optimism.html
[5] www.briefing.com/Investor/Calendars/Economic/Releases/napmserv.htm
[6] www.allrecipes.com/recipe/216331/soldiers-kisses
[9] intermountainhealthcare.org/blogs/topics/heart/2013/01/getting-vitamin-d-during-the-dead-of-winter/
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