Mixed Results as Turkey Stumbles
In This Issue
Stocks ended the week in mixed territory as trouble with Turkey's currency affected U.S. equity performance on Friday, August 10.[1] For the week, the S&P lost 0.25%, the Dow declined 0.59%, and the NASDAQ increased 0.35%.[2] International stocks in the MSCI EAFE stumbled, giving back 1.57%.[3]  
Although last week brought relatively few economic updates, we did learn that the labor market continues to improve and consumer prices are on the rise.[4] While this news may have affected market performance, the challenges facing Turkey's economy had an outsize impact on global stocks.[5]  

What happened to the Turkish lira?
The Turkish lira dropped 14% to 6.46 per dollar, the weakest on record with the largest drop in more than 17 years. The lira ended the week at a record low against the U.S. dollar. [6] Tension between the U.S. and Turkey played a part in the decline as President Trump tweeted plans to double tariffs on Turkish steel and aluminum imports. This potential tariff hike followed a stalled conversation between the two countries concerning an imprisoned U.S. pastor who Turkey believes supported a 2016 attempted coup. [7] 

How did investors react?
The resulting drop in the lira's value concerned investors and led to losses in markets worldwide. Friday, the S&P 500 marked its largest daily decline since June after getting close to a new record high. [8]  

Why do investors care?
The lira's drop is another sign that emerging markets are experiencing challenges in their economies. [9] Some investors worry that Turkey's economic crisis could spread to other countries or affect interest in other emerging markets. [10]  

Should you be concerned?
Probably not for now. U.S. companies don't have a tremendous amount of exposure to Turkish markets. [11] 

We know that global dynamics can be complex and understanding their specific effects on your financial life may seem challenging. If you have any questions, contact us any time.  

Tuesday: Import and Export Prices
Wednesday: Retail Sales, Industrial Production, Housing Market Index
Thursday: Housing Starts, Jobless Claims
Friday: Consumer Sentiment  

Notes: All index returns (except S&P 500) exclude reinvested dividends, and the 5-year and 10-year returns are annualized. The total returns for the S&P 500 assume reinvestment of dividends on the last day of the month. This may account for differences between the index returns published on  Morningstar.com and the index returns published elsewhere. International performance is represented by the MSCI EAFE Index. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly .

"If we command our wealth, we shall be rich and free.
If our wealth commands us, we are poor indeed."
- Edmund Burke

Basil-Berry Lemonade Sorbet
Serves 6

  • 1 cup sugar
  • 1 cup lightly packed fresh basil
  • 6 cups frozen mixed berries
  • ¾ cup lemon juice (from about 4 lemons)
  1. Mix sugar and 1 cup of water in a medium saucepan.
  2. On high, heat until the sugar dissolves. Stir occasionally.
  3. Mix in basil. Remove from the heat. Cover the saucepan and let the mix cool for 15 minutes.
  4. Strain the syrup in a medium bowl and discard the basil. Refrigerate the mix until it is cold.
  5. Put frozen berries, lemon juice, and cooled basil syrup in a blender and puree until smooth.
  6. Put the mix in a metal 8-inch square baking pan, cover it with plastic wrap, and freeze until it is firm enough to scoop, about 2 hours.


Recipe adapted from Good Housekeeping [12]

Basic Driver Keys for Power, Accuracy

Your clubface hits the ball and the ball lands exactly where you envisioned - on the green. Your next move is to get out your putter and complete the shot.

That's the perfect world. The real world, however, is different. With a little more power, you can get the ball closer to the green. With a little more accuracy, you can get the ball to land on the green.

Let's go back to the basics.

Ball position: Play the ball just inside the front heel. As you drive forward, you turn behind the ball for the upswing.

Shoulder alignment: Play the ball up by keeping your shoulders parallel to the target line.

The windup: Start the downswing from the ground up. Move your knees and hips toward the target. Remember: chest to the ball at impact.

Shoulder movements: Keep your back shoulder down and in during the downswing. Don't let your shoulders move out of the path in order to pack more power. Keep the club inside during the swing and straighten your arms to the ball.

Tip adapted from GolfDigest[14]
Share the Wealth of Knowledge!
Please share this market update with family, friends, or colleagues. If you would like us to add them to our list, simply click on the "Forward email" link below. We love being introduced!



Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

Diversification does not guarantee profit nor is it guaranteed to protect assets.

International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors.

The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.

The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896.

The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies.  

The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia.
The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.

Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

Past performance does not guarantee future results.

You cannot invest directly in an index.

Consult your financial professional before making any investment decision.

Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.

These are the views of Platinum Advisor Strategies, LLC, and not necessarily those of the named representative,  
Broker dealer or Investment Advisor, and should not be construed as investment advice. Neither the named representative nor the named Broker dealer or Investment Advisor gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your financial advisor for further information.

By clicking on these links, you will leave our server, as the links are located on another server. We have not independently verified the information available through this link. The link is provided to you as a matter of interest. Please click on the links below to leave and proceed to the selected site .  

[1]  www.cnbc.com/2018/08/10/us-markets-political-concerns-keep-investors-on-edge.html

[3]  www.msci.com/end-of-day-data-search

[4] wsj-us.econoday.com/byshoweventfull.asp?fid=485230&cust=wsj-us&year=2018&lid=0&prev=/byweek.asp#top


[7]  www.cnbc.com/2018/08/10/turkish-lira-loss-deepens-as-pm-erdogan-calls-for-citizens-to-convert-.html?recirc=taboolainternal

[11]  www.marketwatch.com/story/us-stocks-pulled-into-global-selloff-as-turkeys-currency-crisis-raises-the-alarm-2018-08-10?dist=markets

[12] www.goodhousekeeping.com/food-recipes/dessert/a44203/basil-berry-lemonade-sorbet-recipe/

[13] www.irs.gov/newsroom/irs-free-file-and-other-resources-are-available-until-october-15

[14] www.golfdigest.com/story/timeless-driver-keys-basics-on-setting-up-for-power-and-accuracy

[15] www.webmd.com/rheumatoid-arthritis/better-living-ra-17/active/slideshow-keep-joints-healthy

[16] www.earthshare.org/2008/09/now-thats-cookin.html

Visit My Site