Stocks were narrowly higher for the week as investors digested mixed economic news about consumer confidence. All three of the major averages posted gains for Q1 2024.

Stocks Finish Strong

Markets slipped for the first half of the four-day week as investors took a breather after the prior week’s gain. Conflicting economic news on Monday and Tuesday contributed to the slide. New home sales in February slipped 0.3 percent over the prior month but increased by 5.9 percent from the prior year. Durable goods orders—everything from washing machines to helicopters—rebounded 1.4 percent in February, beating expectations and recouping some of January’s 6.9 percent drop.^1,2,3

Stocks rallied on Wednesday, including a fresh record close for the Standard & Poor’s 500. An upward revision to consumer sentiment on Thursday helped the rally along. The markets are closed on Friday when the much-anticipated inflation report called the Personal Consumption and Expenditures (PCE) is released, which could set up a volatile Monday.⁴

Doubters & Believers

Getting a straightforward read on consumers this week was challenging. The Conference Board reported on Tuesday that its Consumer Confidence Index remained essentially unchanged—as it has for the past six months—showing consumers were generally pessimistic about the future.

But on Thursday, the University of Michigan’s consumer-sentiment survey showed consumer confidence hit a 2½-year high in March. It suggested that consumers had gained more confidence that inflation would drop and alleviate some pressure on household finances. Friday’s PCE report may give some additional insights into consumer confidence.^5,6

This Week: Key Economic Data

Monday: ISM Manufacturing Index. PMI Manufacturing Final. Construction Spending.

Tuesday: Motor Vehicle Sales. Factory Orders. JOLTS.

Wednesday: ADP Employment Report. EIA Petroleum Status Report. ISM Services Index.

Thursday: Jobless Claims. International Trade in Goods & Services. Fed Balance Sheet. Natural Gas Report.

Friday: Employment Situation. Consumer Credit.

^{Source: Investors Business Daily – Econoday economic calendar; March 27, 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

Tuesday: Paychex, Inc. (PAYX)

Wednesday: Levi Strauss & Co. (LEVI)

Thursday: Conagra Brands (CAG)

^{Source: Zacks, March 27, 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.}

“Be courteous to all, but intimate with few.”

– George Washington

IRS Offers Free Tax Prep Option for Military Personnel 

Each year, the Internal Revenue Service takes a moment to remind active duty military personnel that the “IRS Free File” offers them multiple choices for free federal tax preparation.

“The IRS takes special steps to help military members and their families with their taxes, and the Free File program is part of that effort,” said IRS Commissioner Chuck Rettig. “Almost 10% of the IRS workforce are veterans. We greatly appreciate the service to the nation of every veteran and their supportive families, and we will do all we can to assist them.”

*This information is not intended to be a substitute for specific, individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov⁷

Yoga for Stability

You don’t have to pull out the yoga mat and get your designer leggings on to enjoy this relaxing practice’s many benefits. Even if you’ve never done yoga before, these poses may help you improve your balance and stability:

• Knee to chest: Start by standing with your feet hip-width apart and your hands on your hips; this is called mountain pose. Now, lift your left knee to hip height so your upper leg (thigh) is parallel to the floor. Flex your left foot and hold this pose for three deep breaths. Repeat on the other side.
• Tree pose: Start with the same mountain pose as the first movement. Now, shift your weight into your left foot and allow your right knee to turn out to the side as you bring your right foot in to rest at your left ankle, shin, or thigh, depending on what’s comfortable. Make sure you’re not putting your foot directly on a joint.
• Dancer pose: Start in mountain pose. Bend your right knee and slowly lift your right foot off the ground. As you do that, lift your left arm to balance yourself. Hold for three breaths and repeat on the other side.

Tip adapted from SilverSneakers.com⁸

They have not flesh, nor feathers, nor scales, nor bone. Yet they have fingers and thumbs of their own. What are they?

Last week’s riddle: Which positive whole number can you add 1.5 to and get the same result as multiplying it by 1.5? Answer: 3.

Nauta, Loreto, Peru

Footnotes and Sources

1. The Wall Street Journal, March 28, 2024

2. CNBC.com, March 25, 2024

3. Reuters, March 26, 2024

4. CNBC.com, March 26, 2024

5. MarketWatch.com, March 28, 2024

6. The Conference Board, March 26, 2024

7. IRS.gov, October 23, 2023 

8. SilverSneakers.com, December 21, 2023

Stocks posted their best week of the year, sparked by news that the dovish Fed decided to keep rates steady and signaled three rate cuts were still possible this year.

Stocks Bounce Back

As widely expected, the Fed left rates unchanged at the conclusion of its two-day meeting. But somewhat less expected, the Fed signaled its inclination to cut interest rates three times this year—each time by a quarter percentage point. That was a positive surprise for some, who worried that recent hot inflation reports would cause the Fed to reconsider its stance.¹

Markets pushed higher Wednesday following the news, with all three averages closing at record highs. The rally continued through Thursday, boosted further by news that existing home sales rose 9.5 percent in February.^2,3

The week’s rally was broad-based overall, with 10 of the 11 S&P 500 sectors posting gains (health care dropped slightly). At one point late in the week, nearly one in four S&P 500 stocks were trading at 52-week highs. That was the highest proportion in three years, which supports the idea that the rally was broadening out from mega-cap tech stocks.⁴

Turning Point

The Federal Open Market Committee’s decision marks a turning point as the Fed signaled that its target range of 5.25 to 5.50 percent has topped out. That target range, in place since late last year, is the highest level in 23 years.

“We believe that our policy rate is likely at its peak for this type of cycle,” said Fed Chair Powell at the post-meeting press conference. He added that if the economy keeps on its current course, that the FOMC would likely “begin dialing back policy restraint at some point this year.” If the FOMC votes to ease it at its June meeting, it would be the first cut in four years.^4,5

This Week: Key Economic Data

Monday: New Home Sales.

Tuesday: Durable Goods Orders. Case-Shiller Home Price Index.

Wednesday: EIA Petroleum Status Report. Survey of Business Uncertainty.

Thursday: Gross Domestic Product. Jobless Claims. Consumer Sentiment. Pending Home Sales.

Friday: Personal Income and Outlays. International Trade in Goods. Retail Inventories.

^{Source: Investors Business Daily – Econoday economic calendar; March 18, 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

Tuesday: McCormick & Company, Incorporated (MKC, MKC.V), Dave & Buster’s Entertainment, Inc. (PLAY)

Wednesday: Paychex, Inc. (PAYX), Carnival Corporation (CCL, CUK), Cintas Corporation (CTAS)

Thursday: Walgreens Boots Alliance, Inc. (WBA)

^{Source: Zacks, March 19, 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.}

“There is nothing so pitiful as a young cynic because he has gone from knowing nothing to believing nothing.”

– Maya Angelou

Rules for Home Office Deductions

If you have a business and work out of your home, the IRS allows you to deduct certain expenses on your return. Here are a few key things to keep in mind:

•  The IRS requires you to use your office (or a part of your home) for “regular and exclusive use.” The part of the house should be your principal place of business, a place where you meet customers, or a separate structure dedicated to the business, like a garage or studio.

• To calculate your deduction, you can use one of two methods:
  • The simplified option allows you to multiply the allowable square footage of your office by $5, up to a maximum of 300 square feet.

  • The regular method allows you to specifically calculate the actual expenses, such as rent, mortgage interest, taxes, repairs, depreciation, and utilities you pay for the portion of your home used for the business. You must determine the percentage devoted to business activities if you use only part of a space for your business.

*This information is not intended to be a substitute for specific, individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov⁶

Eating to Your Heart’s Content  

Deciding to change your diet can feel daunting. It can be challenging to figure out which one is “best” for you. Many fad diets come and go, but a few have stuck around. The most popular is the Mediterranean diet.

In this case, the Mediterranean diet is a lifestyle shift toward healthier eating patterns modeled after principles of Italian and Greek cuisine, which have remained relatively unchanged since the 1960s. Consuming this diet has been correlated with lower rates of heart disease, type 2 diabetes, and other chronic illnesses. The diet emphasizes eating more fruits, vegetables, legumes, nuts, seeds, fatty fish, whole grains, olive oil, and fewer meats and dairy products. The diet is flexible. Elimination isn’t the intention; the goal is to balance nutrient-rich and energy-dense foods.

Food is life, and healthy choices can help support a healthier life. While the Mediterranean diet could be a good option, no single diet will ideally fit everyone’s lifestyle, preferences, and health needs. So, discuss your dietary choices with your physician or registered dietitian first.

Tip adapted from Healthline.com⁷

Which positive whole number can you add 1.5 to and get the same result as multiplying it by 1.5?

Last week’s riddle: The letters in the words meter, man and uses may be rearranged to make a 12-letter word. What is this word? Answer: Measurements.

Peregrine Falcon, Cantabrian Coast, Spain

Footnotes and Sources

1. The Wall Street Journal, March 22, 2024

2. CNBC.com, March 20, 2024

3. Sectorspdrs.com, March 22, 2024

4. MarketWatch.com, March 22, 2024

5. The Wall Street Journal, March 21, 2024

^{6. IRS.gov, November 14, 2023} 

^{7. Healthline.com, December 18, 2023}

Stocks fell for the second straight week on inflation concerns despite a report on consumer prices that was initially well received by investors.

Stocks Slide

Tuesday was the only bright spot during the week as stock prices rose after the Labor Department report showed the Consumer Price Index rose 3.2% in February compared with a year earlier. It was a bit warmer than economists expected but cooler than investors feared. The news sparked a day-long rally, with the Standard & Poor’s 500 stock index setting its 17th record high of the year.1,2

Following Tuesday, caution lingered as investors parsed the underlying data behind headline consumer inflation numbers. Thursday’s fresh producer price index (PPI) report showed that wholesale prices increased by 0.6% in February, more than the expected 0.3% increase. Additionally, core PPI (excluding food and energy) was hotter than expected. 

Retail sales, also reported on Thursday, were disappointing, rising less than expected and adding to the inflation angst. The news rattled investors and contributed to stocks closing lower for three consecutive days to end the week.3,4

Broadening Leadership

Unlike the prior week when the S&P 500 fell the least, last week it lost slightly more than the Dow but less than the Nasdaq. That performance pattern suggests market leadership may be broadening. Also, the energy, financials, and materials sectors all posted gains last week, showing that other groups may join the tech-led rally.5

This Week: Key Economic Data

Monday: Housing Market Index.

Tuesday: FOMC Meeting Begins. Housing Starts and Permits. 20-Year Treasury Bond Auction.

Wednesday: FOMC Announcement. Fed Chair Press Conference. EIA Petroleum Status Report.

Thursday: Jobless Claims. Existing Home Sales. Fed Balance Sheet.

Source: Investors Business Daily – Econoday economic calendar; March 13, 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

Tuesday: GameStop Corp. (GME)

Wednesday: Micron Technology, Inc. (MU), General Mills, Inc. (GIS), Five Below, Inc. (FIVE), Chewy (CHWY)

Thursday: NIKE, Inc. (NKE), FedEx Corporation (FDX), lululemon athletica inc. (LULU), Darden Restaurants, Inc. (DRI)

Source: Zacks, March 13, 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.

“Little by little we human beings are confronted with situations that give us more and more clues that we aren’t perfect.”

– Fred Rogers

4 Facts About Capital Gains

When you sell a capital asset, such as an investment or a piece of property, the sale can result in a capital gain or loss. The IRS defines a capital asset as “most property you own for personal use or own as an investment.” Here are four facts you should keep in mind:

1. A capital gain or loss is the difference between what you originally paid for the asset (your basis) and the amount you get when you sell the asset.
2. You must include all capital gains in your income, and you may be subject to the Net Investment Income Tax if your income is above certain amounts. Consult a qualified tax expert for help.
3. The IRS allows you to deduct capital losses on the sale of investment property. You cannot deduct losses on the sale of property that you hold for personal use.
4. If your total net capital loss is more than the limit you can deduct, you can carry it over to next year’s tax return.

*This information is not intended to be a substitute for specific, individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov6

Finding Inner Peace Inside (And Indoors) 

Yoga has been practiced for thousands of years and has had a revival in the last couple of decades. Yoga can be an optimal exercise choice for many individuals of all ages. But before getting started with any fitness regimen, discuss any medical concerns with your healthcare provider; this information is not a substitute for medical advice.

While there are many different styles of yoga, yoga is generally a low-impact form of exercise. In addition to fitness benefits, it can help you learn relaxation and breathing techniques and how to regulate emotions and quiet your mind. It’s also a great form of indoor exercise, and there are thousands of free classes on YouTube. So, if you’re still enduring the remnants of winter, you can practice quieting your inner monologue by doing yoga from the comfort of your home.

Tip adapted from Healthline.com7

The letters in the words meter, man and uses may be rearranged to make a 12-letter word. What is this word?

Last week’s riddle: The 22nd and 24th U.S. presidents had the same parents– yet the 22nd and 24th U.S. presidents were not siblings. Why? Answer: The 22nd and 24th U.S. presidents were the same person – Grover Cleveland.

Reticulated Giraffes, National Reserve, Kenya

Footnotes And Sources

1. The Wall Street Journal, March 15, 2024

2. The Wall Street Journal, March 12, 2024

3. CNBC, March 15, 2024

4. CNBC, March 15, 2024

5. Sector SPDRs, March 15, 2024

6. IRS.gov, October 17, 2023

7. Healthline.com, December 18, 2023

Stocks were down for the week as investors appeared to take some profits and traders parsed Fed Chair Jerome Powell’s Congressional testimony.

Markets Wobble 

Stocks had a rough start to the week, with the Dow, S&P 500, and Nasdaq each off more than one percent on Tuesday alone. Mega-cap tech stocks were under pressure as investors appeared to take some profits.

Markets clawed back much of their losses on Wednesday and Thursday, with the Fed Chair’s upbeat comments to the Senate Banking Committee boosting stocks. Chair Powell said that once the Fed was confident inflation was tracking “sustainably at 2%,” the Fed would consider cutting short-term interest rates. The S&P 500 and Nasdaq rallied, with the S&P hitting a record close.1,2,3

Friday’s employment news threw some uncertainty into the mix. The economy added 275,000 jobs in February—exceeding the 198,000 expected—but wage growth slowed, and jobless claims edged up. Some investors saw that as a negative, while others viewed it as a “Goldilocks” moment—an economy that’s not too hot or cold. Stocks initially rallied on the news, but profit-takers appeared to arrive as the day progressed.4,5

Fed Watch: Productivity

Productivity is one of the critical data points the Fed reviews to determine its next steps with monetary policy. Producing more goods or services with fewer resources helps the economy grow while managing inflation risks.

The 3.2 percent productivity gains in Q4 reported last week were mainly attributed to the post-pandemic repair of supply chains. However, investors may hope that artificial intelligence will play a more significant role in productivity increases.6,7

This Week: Key Economic Data

Tuesday: Consumer Price Index. Treasury Statement.

Wednesday: EIA Petroleum Status Report.

Thursday: Jobless Claims. Producer Price Index. Retail Sales. Business Inventories.

Friday: Industrial Production. Import and Export Prices. Consumer Sentiment.

Source: Investors Business Daily – Econoday economic calendar; March 2, 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

Tuesday: Lennar Corporation (LEN, LEN.B)

Wednesday: Dollar Tree, Inc. (DLTR)

Thursday: Oracle Corporation (ORCL), Adobe Inc. (ADBE), DICK’S Sporting Goods, Inc. (DKS), Getty Images Holdings, Inc. (GETY)

Source: Zacks, March 2, 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.

“Expect the best. Prepare for the worst. Capitalize on what comes.”

– Zig Ziglar

Do You Know The Difference Between Taxable And Nontaxable Income?

All income you receive is taxable unless the rules explicitly state it isn’t. According to the IRS, taxable income includes earned income like wages and any income earned by bartering or through the exchange of property or services. Rental income is taxable, as are other unearned incomes like interest and dividends or Social Security.

Some income is only taxable if certain conditions are met. For example, life insurance proceeds are usually not taxable to the beneficiary unless you redeem a life insurance policy for cash. Any amount you receive above the cost of the policy is then taxable. State and local income tax refunds may be taxable and should be reported on your federal taxes.

Some forms of income are usually not taxable, such as the following:

• Gifts and inheritances
• Child support payments
• Welfare benefits
• Damage awards for physical injury or sickness
• Cash rebates from a dealer or manufacturer for an item you buy
• Reimbursements for qualified adoption expenses

Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder may also pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

*This article is for informational purposes only and does not replace real-life advice, so consult your tax, legal, and accounting professionals before modifying your tax strategy.

Tip adapted from IRS.gov8

Choose To Make Your Plate “MyPlate”

The food pyramid had many flaws, including generalized recommended daily servings and poorly defined portion sizes. So, the U.S. Department of Agriculture implemented a user-friendly redesign, transforming the pyramid into a plate. 

The concept behind the MyPlate design was both revolutionary and seemingly obvious. After all, we eat off a plate, not a pyramid. Portions are easier to see. Make half the plate of fruits and vegetables; the other half comprises grains and protein. A serving of dairy (or non-dairy alternative) goes on the side.

Take advantage of this method the next time you sit down for a meal and see what adjustments you can make to make your plate even healthier.

Tip adapted from myplate.gov9

The 22nd and 24th U.S. presidents had the same parents– yet the 22nd and 24th U.S. presidents were not siblings. Why?

Last week’s riddle: You can’t outrun it or hide from it. You only notice it when there is light, but it shows only darkness. What is it? Answer: Your shadow.

Forbidden City, Beijing, China

Footnotes And Sources

1. The Wall Street Journal, March 8, 2024

2. MarketWatch, March 6, 2024

3. CNBC, March 7, 2024

4. CNBC, March 8, 2024

5. The Wall Street Journal, March 8, 2024

6. The Wall Street Journal, March 7, 2024

7. Bureau of Labor Statistics, March 7, 2024

8. IRS.gov, November 02, 2023 

9. MyPlate.gov, December 18, 2023

Stocks extended their tech-led advance last week as signs of a resilient and still-enthusiastic consumer boosted momentum.

Nasdaq Sets New High

Stocks traded in a narrow band early in the week but ended the five-trading sessions with a powerful advance.

While the Dow dipped lower, artificial intelligence (AI) names powered the gains in the S&P 500 and the Nasdaq Composite. The Nasdaq bobbed around the 16,000 level for most of the week before posting consecutive record highs on Thursday and Friday, surpassing its 2021 record. It was the last of the three major stock benchmarks to reach a record high this year.1

Economic news also helped boost markets. The Personal Consumption Expenditures (PCE) Index, the Fed’s preferred inflation gauge, rose 0.3 percent in January versus December—and 2.4 percent on a 12-month basis. Both were in line with expectations. Stocks ticked up on Thursday following the release of the report.2

Consumers Remain Upbeat

With all the excitement over AI, it’s easy to overlook some key economic indicators that also speak to the underlying strength of the economy—specifically, consumer data.

In addition to the closely watched PCE report, an end-of-week consumer survey revealed that while sentiment softened in February, it remained near a 32-month high. Fresh data this week also showed an unexpected jump in personal income.

Finally, the PCE report also reflected an ongoing consumer shift from goods to services—a sign the economy continues to normalize after the pandemic. Since two-thirds of gross domestic product comes from consumer spending, these consumer-related metrics helped support the narrative that the economy appears to be gathering momentum.3,4

This Week: Key Economic Data

Monday: Motor Vehicle Sales.

Tuesday: Factory Orders. ISM Services Index.

Wednesday: ADP Employment Report. JOLTS. Beige Book.

Thursday: Federal Reserve Chair Jerome Powell Speech. Jobless Claims. International Trade in Goods & Services. Productivity and Costs.

Friday: Employment Situation.

Source: Investors Business Daily – Econoday economic calendar; February 27, 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

Tuesday: Target Corporation (TGT)

Wednesday: Dollar Tree, Inc. (DLTR), Campbell Soup Company (CPB)

Thursday: Costco Wholesale Corporation (COST), Broadcom Inc. (AVGO), The Kroger Co. (KR)

Source: Zacks, February 27, 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.

“When there is freedom from mechanical conditioning, there is simplicity.”

– Bruce Lee

Owe The IRS Money? Here’s How To Pay

If you owe federal taxes, you must pay by the April deadline. Remember, if you get an extension to file your taxes, payment is still due by the April deadline. If you can’t pay the total amount you owe now, you may be able to set up a payment plan.

Here are some choices for making your payment:

• Use Direct Pay: IRS Direct Pay is a free and secure way to pay directly from your checking or savings account.
• Pay by debit or credit card: If you don’t want to link a bank account, you can use your credit or debit card. Remember that you’ll have to pay a processing fee and may incur interest charges.
• Pay when you e-file: If you file your federal tax return electronically, you can pay directly from your bank account using electronic funds withdrawal.

*This article is for informational purposes only and does not replace real-life advice, so consult your tax, legal, and accounting professionals before modifying your tax strategy.

Tip adapted from IRS.gov5

Eat This, Not That: Easy Food Swaps Anyone Can Do

Eating healthier doesn’t have to be hard! You might not have to make any significant changes in your current diet. You can cut calories and still enjoy your meal by swapping out unhealthy options for healthier picks. Here are some of our favorite food swaps:

• Mustard instead of mayonnaise (0 calories vs. 90 calories)
• Scrambled eggs with green onions instead of cheese (170 calories vs. 275 calories)
• Sparkling water instead of soda (0 calories vs. 140 calories)
• Fresh fruit instead of dried fruit (69 calories vs. 325 calories)
• Greek yogurt instead of sour cream (28 calories vs. 60 calories)
• Olive oil spray instead of a tablespoon of olive oil (5 calories vs. 120 calories)
• Corn tortillas instead of flour tortillas (100 calories vs. 280 calories)
• All-bran cereal instead of granola (80 calories vs. 200 calories)
• Goat cheese instead of brie cheese (70 calories vs. 100 calories) 

Many healthy swaps like these can help you reduce caloric intake, consume less sugar, and create more balanced meals. 

Tip adapted from EatThis.com6

You can’t outrun it or hide from it. You only notice it when there is light, but it shows only darkness. What is it?

Last week’s riddle: Kristi and David live at opposite ends of a metro area but attend the same college. David left for campus 30 minutes before Kristi, and they met at a coffee house. Who was closer to campus when they met? Answer: They were both at the same distance from campus when they met each other, as they met at the same location.

Gherkin, Financial District, London, UK

Footnotes And Sources

1. The Wall Street Journal, February 29, 2024

2. CNBC.com, February 29, 2024

3. MarketWatch.com, March 01, 2024

4. CNBC.com, February 27, 2024.

5. IRS.gov, December 1, 2023

6. EatThis.com, December 18, 2023

Stocks fell last week as investors reacted to disappointing inflation updates and other economic reports that fell short of estimates.

Stocks Snap Winning Streak

Markets were quiet Monday but opened lower Tuesday in response to the January inflation report that showed higher-than-expected consumer prices. But stocks regained some momentum on Wednesday and rallied Thursday despite disappointing reports on both retail sales and industrial production for January.^1,2

News of higher-than-expected wholesale prices on Friday put investors back on edge and kept stocks from ending the week on a positive note. The weekly loss broke a five-week winning streak.³

Inflated Perspective

Consumer Price Index data was one of the big pieces of news driving markets last week, with January’s numbers coming in at 3.1 percent compared to a year prior—cooler than December’s 3.4 percent year-over-year gain but warmer than the 2.9 percent consensus. Jittery Investors focused on the hotter-than-expected part.⁴

With the consumer report closely followed by disappointing inflation news on the producer level, attention quickly shifted to the Fed and what’s next for interest rates. While the Fed has indicated short-term rates may trend lower in 2024, the January inflation reports support Fed Chair Powell’s recent comments that the Fed is in no hurry to cut rates.⁴

This Week: Key Economic Data

Tuesday: Leading Indicators.

Wednesday: FOMC Meeting Minutes.

Thursday: Jobless Claims. Existing Home Sales. U.S. Fed Balance Sheet.

^{Source: Investors Business Daily – Econoday economic calendar; February 15, 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

Tuesday: Walmart Inc. (WMT), The Home Depot, Inc. (HD), Palo Alto Networks, Inc. (PANW)

Wednesday: NVIDIA Corporation (NVDA)

Thursday: Intuit Inc. (INTU), Booking Holdings Inc. (BKNG)

Friday: Berkshire Hathaway Inc. (BRK.A, BRK.B)

^{Source: Zacks, February 15, 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.}

“You miss 100% of the shots you never take.”

– Wayne Gretzky

Taking a Side Gig? Here’s How It May Affect Your Taxes

Taxpayers who work in the gig economy may benefit from a better understanding of how their work affects their taxes. 

Here are some things taxpayers should know about the gig economy and taxes:

• Money earned through this work may be taxable.
• There are tax implications for the company providing the platform and the individual performing the services. 

This income may be taxable even if the taxpayer providing the service doesn’t receive a Form 1099-MISC, Form 1099-K, or Form W-2. This income may also be taxable if the activity is only part-time or side work or paid in cash. 

*This information is not intended to be a substitute for specific, individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov⁵

Show Your Heart Some Love 

February is American Heart Month. While genetics and family history are primary factors in disease development and survival, some lifestyle factors are associated with better heart health. However, make sure to discuss any medical concerns with your health care provider before beginning any dietary and fitness regimen. The following information is not a substitute for medical advice.

• Manage your blood pressure: Make sure to get your blood pressure checked regularly. Hypertension is often asymptomatic.
• Maintain a healthy weight: Being overweight or obese may increase disease risk.
• Eat well and exercise: These two activities are associated with a lower incidence of heart disease.
• Drink less alcohol and don’t smoke: These habits are seen more frequently in heart disease patients.
• Sleep well and reduce stress: Lower cortisol levels may reduce your risk for heart disease. 

While not all risk factors are controllable, some are. The list above is not comprehensive. Give your heart some love this month and talk to your doctor about the best ways to care for it. 

Tip adapted from MedlinePlus.gov⁶

What can explode slowly, with no smoke or flame?

Last week’s riddle: If a single-engine airplane taxied not onto a runway but onto an enormous conveyor belt whose speed precisely equaled that of the plane in the opposite direction, could the plane still manage to take off? Answer: Yes, eventually. A plane’s wheels roll freely, and the thrust generated by the prop or jet engine will still be greater than drag, and the lift created by air flowing over the wing will still be greater than the aircraft’s weight.

A freediver swimming in a Mexican cenote

Footnotes and Sources

1. The Wall Street Journal, February 13, 2024.

2. CNBC, February 16, 2024.

3. The Wall Street Journal, February 15, 2024.

4. The Wall Street Journal, February 13, 2024.

^{5. IRS.gov, April 7, 2023.}

^{6. MedlinePlus.gov, December 12, 2023.}