|
Source: YCharts.com, December 7, 2024. Weekly performance is measured from Monday, December 2,
to Friday, December 6. TR = total return for the index, which includes any dividends as well as any other
cash distributions during the period. Treasury note yield is expressed in basis points.
Tech Takes Charge
The S&P and Nasdaq rallied to start the week, closing at record highs Monday and Tuesday. The Dow fell on both days. During a conference speech, Fed governor Christopher Waller said he supports a rate adjustment in December for now, which seemed to add momentum to the S&P’s and Nasdaq’s gains.3,4
Tech shares continued to propel stock gains midweek on the strength of a few better-than-expected Q3 reports.5
On Friday, the S&P and Nasdaq hit new record highs following the November jobs report. Both notched their third consecutive winning week. By contrast, the Dow was down four of the five trading days, ending the week in the red after two back-to-back weekly gains.6,7,8
Jobs Rebound
After two hurricanes and an aircraft maker strike weighed on the labor market in October, the November jobs report released Friday gave investors what they were looking for: confirmation that the October update was an anomaly.
While November payrolls topped expectations, investors believed the hotter-than-expected report would not influence the Fed’s upcoming decision regarding short-term interest rates. The Fed’s scheduled two-day meeting ends on December 18.9
This Week: Key Economic Data
Tuesday: Productivity and Costs.
Wednesday: Consumer Price Index (CPI). 10-Year Treasury Note Auction. Treasury Statement.
Thursday: Weekly Jobless Claims. Producer Price Index (PPI). Fed Balance Sheet.
Friday: Import and Export Prices.
Source: Investors Business Daily - Econoday economic calendar; December 6, 2024 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.
This Week: Companies Reporting Earnings
Monday: Oracle Corporation (ORCL)
Tuesday: AutoZone, Inc. (AZO)
Wednesday: Adobe, Inc. (ADBE)
Thursday: Broadcom Inc. (AVGO), Costco Wholesale Corporation (COST)
Source: Zacks, December 6, 2024. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
Food For Thought
“Life is either a daring adventure, or nothing.”
– Helen Keller
TAX TIP
Beware of the Fake Charity Scam
There are so many scams out there. One of the most heartless is taking advantage of people who want to give money to a legitimate charity, especially after a tragedy or disaster. Scammers can set up fake organizations to take advantage of people’s generosity.
These scams are usually over the phone, and while the organization may sound legitimate, the person on the other end might demand a donation immediately. Remember, a charity will happily receive a donation anytime, so you shouldn’t feel pressured.
You can research charity organizations using the IRS Tax Exempt Organization Search tool—this will help you narrow down a list of legitimate charities. You may even be able to claim a deduction on your tax return.
This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS10
Healthy Living Tip
How to Understand Your Blood Pressure Readings
Understanding your blood pressure readings is important, especially if you are at a greater risk for high blood pressure. Here are the ranges you should know, according to the American Heart Association:
- Normal ranges are less than 120 for systolic mmHg (the top number in the reading) and less than 80 for diastolic mmHg (the lower number)
- Elevated ranges are 120-129 systolic and less than 80 diastolic
- High blood pressure (hypertension) stage 1 ranges are 130-139 systolic or 80-89 diastolic
- High blood pressure (hypertension) stage 2 ranges are 140 or higher systolic or 90 or higher diastolic
- Hypertensive crisis (a medical emergency) ranges are higher than 180 for systolic and higher than 120 for diastolic
Tip adapted from American Heart Association11
Weekly Riddle
I have a bank, yet no cash. I can run, but can’t walk.
I have a bed but never sleep. I have a mouth, but ingest no meals.
What am I?
Last week’s riddle: What has one eye and yet can’t see?
Answer: A sewing needle.
Photo of the Week
The Shard
Bermondsey, London, United Kingdom
| 
