Weekly Market Insights | Tariffs Take Markets for a Wild Ride

Under the Hood

The Institute for Supply Management (ISM) published fresh manufacturing data on Monday. Although headline numbers were decent, a closer look revealed that new orders dropped in January from a years-long high into correction territory while deliveries and prices paid jumped.⁸

This Week: Key Economic Data

Tuesday:  Job Openings. NFIB Small Business Optimism Index.

Wednesday:  Consumer Price Index (CPI). Federal Budget. Treasury Announcement.

Thursday:  Producer Price Index (PPI). Initial Jobless Claims.

Friday:  Consumer Sentiment.

^{Source: Investors Business Daily – Econoday economic calendar; March 7, 2025
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)

Wednesday:  Adobe Inc. (ADBE)

^{Source: Zacks, March 7, 2025. 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.}

“Surround yourself with people only who are going to take you higher.”

– Oprah Winfrey

Are Medical and Dental Expenses Tax-Deductible?

If you file your taxes using itemized deductions, you may be able to deduct medical and dental expenses for yourself, your spouse, and your dependents. According to the IRS, you may deduct only the total medical expenses exceeding 7.5% of your adjusted gross income.

Some types of medical care expenses that may be deductible include:

• Payments for the diagnosis, cure, treatment, and prevention of a disease
• Payments to doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists, and nontraditional medical practitioners
• Paying for inpatient hospital care or nursing home care
• Fees associated with inpatient treatment for alcohol or drug addiction
• Payments to participate in a weight-loss program for a specific disease diagnosed by a doctor (such as obesity)

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional. 

Tip adapted from IRS⁹

Perfect Your Pigeon Pose

If you sit a lot at work or have tight hips, the pigeon pose (a popular pose in yoga) might help. It’s a simple pose that anyone can do, even if you don’t have experience practicing yoga. Here’s how to do it:

• First, start on all fours with your hands shoulder-width apart and your knees hip-width apart.
• Next, bring your right knee close to your right wrist and get your shin parallel to the mat’s top.
• Then, bring your left leg back behind you and rest on the mat with your thigh, knee, and shin touching it.

Some find sitting in this pose with their chest upright enough. To increase the intensity of the pose, they lean forward, rest their forearms on the mat, and rest their heads on their hands.

Tip adapted from Healthline¹⁰

What binds two people together yet touches only one person at a time?

Last week’s riddle: Lidia immediately went bankrupt after the car she was pushing around stopped in front of a hotel. It sounds sad, but she wasn’t upset. What was she doing?
Answer: She was playing Monopoly.

Lady Franklin Fjord Polar Bear  
Nordaustlandet, Svalbard, Norway

Footnotes and Sources

^{1. The Wall Street Journal, March 7, 2025}

^{2. Investing.com, March 7, 2025}

^{3. The Wall Street Journal, March 3, 2025}

^{4. CNBC.com, March 4, 2025}

^{5. CNBC.com, March 5, 2025}

^{6. CNBC.com, March 6, 2025}

^{7. MarketWatch.com, March 7, 2025}

^{8. The Wall Street Journal, March 4, 2025}

^{9. IRS.gov, September 26, 2024}

^{10. Healthline, October 3, 2024}