Confidence Grows In Resilient Economy

March 28, 2022

With growing confidence in the economy’s resilience, stocks posted another week of solid gains.

The Dow Jones Industrial Average rose 0.31%, while the Standard & Poor’s 500 advanced 1.79%. The Nasdaq Composite index picked up 1.98% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, added 0.27%.^1,2,3

Stocks Extend Gains

Markets bounced around all week as investors grappled with the crosswinds of rising yields, continued hostilities in Ukraine, and hawkish comments from Fed Chair Jerome Powell. After suffering declines in two of the first three trading sessions of the week, stocks turned higher on a good jobless claims number that investors interpreted as continuing economic strength.

Stocks drifted higher as the week came to a close amid rising bond yields, which on Friday saw the 10-year Treasury yield rise for the 13th time in 16 trading sessions.⁴

Labor Market

Many economists speculated that the invasion of Ukraine would likely shave economic growth in the short term as hostilities worsened supply chains and increased inflationary pressures. The impact, so far, has not been seen in the labor market.

Last week’s initial jobless claims fell by 28,000 to 187,000, the lowest level since December 1969. The number of people on state unemployment rolls fell to 1.35 million, from 1.42 million the previous week, while open jobs are at a near-record high of 11.3 million. Employers’ need for workers suggests that the demand for products and services has remained resilient despite the events in Eastern Europe.⁵

This Week: Key Economic Data

Tuesday: Consumer Confidence. JOLTS (Job Openings and Turnover Survey).

Wednesday: Gross Domestic Product (GDP). Automated Data Processing (ADP) Employment Report.

Thursday: Jobless Claims.

Friday: Employment Situation. Institute for Supply Management (ISM) Manufacturing Index.

_{^{Source: Econoday, March 25, 2022
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: Micron Technology, Inc. (MU), lululemon athletica, inc. (LULU), Chewy (CHWY).

Wednesday: Paychex, Inc. (PAYX).

Thursday: Walgreens Boots Alliance, Inc. (WBA).

_{^{Source: Zacks, March 25, 2022
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.}}

WEALTH WATCH: BONDS TAKING A BEATING AS MARKET CONFIDENCE BUILDS

The HCM-BuyLine® has firmed up substantially – still no buy signal yet but it is looking a lot better. With that said, the market is now overbought and will pull back in the next few days, or a week from now. That is not a bad thing because if we get a new signal and...[READ MORE] ⁶

_{This communication is issued by Howard Capital Management, Inc. It is for informational purposes and is not an official confirmation of terms. It is not guaranteed as to accuracy, nor is it a complete statement of the financial products or markets referred to. Opinions expressed are subject to change without notice.}

Tips for Good Recordkeeping

As you prepare to file your tax return, the first step is to ensure that your records are in order. Good recordkeeping throughout the year will make filing your taxes easier.

Here are some recordkeeping tips:

Identify all sources of income.
Keep track of expenses.
Prepare your tax returns quickly and accurately. Add tax records to your files as you receive them to make filing easier.
Organize support items that you may need to provide more clarity into your tax return.⁷

_{* 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.}

How to Drink More Water Throughout the Day

Drinking enough water, especially during the summer months, is important to keep you feeling your best. While there aren’t any strict rules on exactly how much water you should drink, you should listen to your body to ensure you’re getting enough.

Here are some tips on how to drink more water throughout the day:

Keep a reusable water bottle with you. Not only will this save plastic, but it will make it more convenient (and fun) to drink water.
Set reminders on your phone to drink water, or “anchor” drinking water to other habits throughout your day (ex: at the end of every meeting, drink some water).
Replace other drinks, such as coffee and soda, with water.
Drink a glass of water before every meal.
Flavor your water with fruit or healthy water enhancers.⁸

Mini Key Lime Pies

Servings: 4-5

Total Time: 3 Hours 45 mins

Ingredients

Crust:

1 and 1/2 cups graham cracker crumbs (about 10 full sheet graham crackers)
6 Tablespoons unsalted butter, melted
1/3 cup granulated sugar

Filling:

4 ounces full-fat cream cheese, softened to room temperature
4 large egg yolks
one 14 ounce can full-fat sweetened condensed milk
1/2 cup key lime juice
optional: lime slices and whipped cream for garnish

Instructions:

Preheat the oven to 350°F (177°C). Line a 12-count muffin pan with liners and a second 12-count muffin pan with only 4 (since this recipe makes only around 16). Set pans aside.
Make the crust: Before you begin, here are all of my tips for a perfect graham cracker crust. If you’re starting out with full-sheet graham crackers, you can use a food processor or blender to grind them up. Or crush them in a zipped top bag with a rolling pin. Mix the graham cracker crumbs, melted butter, and granulated sugar together with a rubber spatula in a medium bowl until combined. The mixture will be thick, coarse, and sandy. Press a heaping Tablespoon of mixture down into each liner, making sure the crust is tight and compact. You might have a little crust leftover. If so, press a little more into each liner—if desired! Pre-bake the crusts for 5 minutes. Remove from the oven.
Make the filling: In a large bowl using a handheld or stand mixer fitted with a whisk attachment, beat the cream cheese on high speed until smooth, about 1 minute. On medium-high speed, beat in the egg yolks, scraping down the sides as needed. On high speed, beat in the sweetened condensed milk and lime juice until combined.
Pour the filling evenly into each crust. Bake for 15-16 minutes or until the centers of the pies only slightly jiggle (I check this by wiggling the muffin pan—with an oven mitt on– while it’s still in the oven). Allow the pies to cool at room temperature in the pan set on a wire rack. Once completely cool, place the pan in the refrigerator for at least 2 hours and up to 1 day.
Once chilled, serve the key lime pies cold with whipped cream and a lime slice if desired. Store leftover pies in the refrigerator (covered) for up to 1 week. If they last that long!

Stay safe!

Footnotes and Sources

^{1. The Wall Street Journal, March 25, 2022}

^{2. The Wall Street Journal, March 25, 2022}

^{3. The Wall Street Journal, March 25, 2022}

^{4. The Wall Street Journal, March 25, 2022}

^{5. The Wall Street Journal, March 24, 2022}

^{6. howardcm.com, March 22, 2022}

^{7. IRS.gov, June 22, 2021}

^{8.. Healthline.com, September 30, 2021}

^{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.}

^{The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.}

^{This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security.}