Stocks advanced last week, powering ahead with pre-holiday optimism despite geopolitical tensions and two disappointing Q3 corporate updates. The Standard & Poor’s 500 Index rose 1.68 percent, while the Nasdaq Composite Index gained 1.73 percent. The Dow Jones Industrial Average led, picking up 1.96 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, was flat (-0.05 percent).1,2 Stock Push AheadStocks showed mixed results during the first half of the week due to geopolitical tensions that boosted precious metals and put pressure on Treasury yields.3 The Dow Industrials jumped out in front midweek and never looked back. Disappointing earnings on Tuesday from a large box retailer held back some gains in the broader S&P 500. A mixed Q3 update report from the nation’s leading AI chipmaking company also tempered gains a bit.4 Year-end optimism, especially around consumers driving a healthy holiday shopping season, supported the rally for much of the week. Fresh data that weekly jobless claims dropped to a seven-month low also lifted spirits.5,6 |
Small-Cap FocusFor several weeks, investors have favored small-cap names over larger-cap issues. This trend was again on display last week. The Russell 2000, an index of 2,000 small-cap companies widely used as a benchmark for U.S. small-cap stocks, rose 4.50 percent for the five days of trading. In the month-to-date through November 22, the Russell is up nearly 9 percent.7 This Week: Key Economic DataTuesday: Consumer Confidence. New Home Sales. FOMC Minutes. Wednesday: Gross Domestic Product (GDP). Durable Goods. Pending Home Sales. Personal Income and Outlays. Thursday: Markets Closed—Thanksgiving Holiday. Source: Investors Business Daily – Econoday economic calendar; November 21, 2024 This Week: Companies Reporting EarningsMonday: Agilent Technologies, Inc. (A) Tuesday: Analog Devices, Inc. (ADI), Dell Technologies Inc. (DELL), CrowdStrike (CRWD) Source: Zacks, November 21, 2024. |
“Keep some room in your heart for the unimaginable.” – Mary Oliver |
Did You Know That You Have the Right to Challenge the IRS?As a taxpayer, you can challenge the IRS’ position; this is part of the Taxpayer Bill of Rights, which outlines your fundamental rights when working with the IRS. With this right, you can:
In some circumstances, you may have a hearing before an independent Office of Appeals. This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional. Tip adapted from IRS8 |
Zero-Waste Grocery Shopping TipsThere are many ways to have an eco-friendly shopping trip at the grocery store. Here are a few tips to reduce plastic usage and aim for a zero-waste trip to the store:
Tip adapted from Green Matters9 |
A palindrome is any word, phrase, or number that reads the same, either forward or backward. Can you think of a palindrome word spelled in all capitals that looks the same backward, forwards, or upside down? Last week’s riddle: I’m not alive, yet I grow. I need air, yet I have no lungs. I lack a mouth, yet water will calm me down. What am I? Answer: Fire. |
Clown Anemonefish Maldives, South Asia |
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Footnotes and Sources1. The Wall Street Journal, November 22, 2024 2. Investing.com, November 22, 2024 3. MarketWatch.com, November 19, 2024 4. CNBC.com, November 20, 2024 5. CNBC.com, November 21, 2024 6. MarketWatch.com, November 21, 2024 7. The Wall Street Journal, November 22, 2024 8. IRS.gov, July 5, 2024 9. Green Matters, July 24, 2024 |