Benchmarks End Week Lower
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BI-WEEKLY UPDATE - SEPTEMBER 30, 2019
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The Week on Wall Street
Stocks retreated last week. Traders worried that the formal impeachment inquiry of President Donald Trump might distract White House officials from their pursuit of a trade deal with China, and shift the focus of Congress away from consideration of the United States-Mexico-Canada Agreement (USMCA). Also, news broke Friday that the White House was considering restricting levels of U.S. investment in Chinese firms.
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Incomes Grow, Spending Slows
Data released Friday by the Bureau of Economic Analysis showed household incomes rising 0.4% in August. Consumer spending improved just 0.1%, however; that was the smallest personal spending advance in six months.
Another BEA report noted that "real" consumer spending (that is, consumer spending adjusted for inflation) rose 4.6% during the second quarter.
[4][5]
A Slip in Consumer Confidence
The Conference Board's Consumer Confidence Index fell to 125.1 for September. That compares to a reading of 134.2 in August. Lynn Franco, the CB's director of economic indicators, wrote that "the escalation in trade and tariff tensions in late August appears to have rattled consumers. However, this pattern of uncertainty and volatility has persisted for much of the year and it appears confidence is plateauing."
In contrast, the University of Michigan's Consumer Sentiment Index ended September at 93.2, an improvement from a final August mark of 89.8.
[6][7]
What's Ahead
On October 10, the Social Security Administration is scheduled to announce the 2020 cost of living adjustment (COLA) for Social Security retirement benefits. Earlier this month, Bureau of Labor Statistics yearly inflation data pointed to a possible 2020 COLA in the range of 1.6%-1.7%.
[8]
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October 19: Client Event
This fall's semi-annual client breakfast seminar will focus on cyber security. There will be a delicious breakfast buffet followed by presentations on cyber security tips, how SEI puts safety first, and a quick update on the markets. Invitations have been mailed. Call our office to RSVP or click here:
Client Breakfast Seminar.
November 8 from 9-10 am: Workshop
Join us for the Retire on Purpose workshop.
You will receive actionable tips on what you can start doing today to enrich your life in retirement. A great experience for those about to retire or who have recently retired!
Register
yourself and your guests today by clicking here: Retire on Purpose Workshop.
November 28 & 29: Office Closed
Blattel & Associates will be closed for the Thanksgiving holiday.
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Bob and his wife attended the Telluride Film Festival earlier this month. Read about his experience, as well as his movie recommendations, by clicking here. Or, email us and we can send you a copy of his article. Also, as a movie reviewer for the St. Louis Film Festival, Bob would like everyone to know that it is coming up in early November and he will be sharing the line-up with all of you when he gets it
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"Singing in the shower is all fun and games until you get shampoo in your mouth. Then, it's a soap opera."
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Unknown
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Usually, this classic comfort meal is baked, but you can make a more-delicious ziti in the slow cooker, while you set it and forget it. This warm recipe makes the perfect family dinner and can be portioned out for leftovers throughout the week.
[8 servings]
Ingredients:
- 1 lb. of ground beef or ground turkey
- 1 onion, chopped
- 1½ tsp. garlic, minced
- Salt and pepper, to taste
- 1 tsp. dried basil
- 1 tsp. dried parsley
- 1 tsp. oregano
- 28-oz. can tomatoes, diced
- 2½ cups pasta sauce
- 2½ cups water or chicken broth
- 4 cups ziti pasta
- 1¼ cups shredded mozzarella cheese
Directions:
- Cook the meat in a skillet with the garlic, salt, and pepper.
- Add the cooked meat, basil, parsley, oregano, tomatoes, and pasta sauce to a 4-quart or larger slow cooker and stir.
- Cook on low for 6 hours or high for 3 hours.
- At the end of the cook, turn the slow cooker to high and add the pasta. Stir to combine, and continue cooking for another 15 to 20 minutes, until the pasta is soft.
- Sprinkle with cheese and cook for another 5 minutes, until the cheese is melted.
Recipe adapted from The Recipe Rebel[9]
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According to The American Heart Association, adults should know their key health numbers, including total cholesterol, HDL (good cholesterol), blood pressure, blood sugar, and body mass index. These core data points can help health care providers determine whether an individual is at risk for cardiovascular disease, a heart attack, stroke, diabetes, high blood pressure, and other concerns.
If you're not sure what your "numbers" are, schedule a visit with your doctor to monitor them and understand why each is important. Here's a quick definition of each metric:
- Cholesterol - Cholesterol is a lipoprotein found in our body's tissues and plays a role in forming and maintaining cell membranes. There is "good" cholesterol, which our body needs, and "bad" cholesterol, which puts us at a higher risk for heart disease.
- Body Mass Index - Your BMI is calculated by your height and weight and can help measure if you are underweight, a healthy weight, or overweight.
- Blood pressure - Blood pressure refers to the amount of force the heart must use to pump blood throughout the body. It is measured by the resulting pressure exerted onto blood vessel walls, during work and at rest.
- Blood sugar - Blood sugar measures the concentration of glucose in the blood.
Tips adapted from The American Heart Association
[12]
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Diversification does not guarantee profit nor is it guaranteed to protect assets.
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[6] www.conference-board.org/data/consumerconfidence.cfm
[7] www.marketwatch.com/story/consumer-sentiment-rebounds-in-september-but-americans-more-anxious-2019-09-27
[8] finance.yahoo.com/news/3-events-could-push-social-100600194.html
[9] www.thereciperebel.com/slow-cooker-baked-ziti/
[12] www.heart.org/en/know-your-risk/know-your-numbers
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