Stocks spent last week digesting the sharp gains of previous weeks as investors assessed a tightening yield curve, the war in Ukraine, and an uncertain outlook for economic growth and inflation.
The Dow Jones Industrial Average slipped 0.12%, while the Standard & Poor’s 500 was flat (+0.06%). The Nasdaq Composite index led, picking up 0.65% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 1.02%.1,2,3
Stock prices bounced around following strong gains in two previous weeks as money managers appeared to reposition their portfolios ahead of the first-quarter close. Oil was under pressure all week as prices fell on news that Shanghai imposed a strict lockdown due to COVID infections. President Biden announced a sustained release of oil from the country’s strategic petroleum reserve.
Bond yields reversed their recent climb. The flattening in the yield curve triggered some concerns about economic growth and the possibility of a recession.
With economic growth worries overhanging the market, last week’s employment reports showed continued strong demand for workers. The Job Openings and Labor Turnover Survey reported the number of open positions remained near record highs, with job openings exceeding the number of available workers by a record five million. Afterward, the Automated Data Processing employment report saw private payrolls grow by 455,000 in March, slightly above consensus expectations.4,5
Finally, the government’s monthly jobs report showed that employers added 431,000 jobs in March, lowering the unemployment rate to 3.6%. That’s approaching the 50-year low of 3.5% reached in February 2020.6
This Week: Key Economic Data
Monday: Factory Orders.
Tuesday: Institute for Supply Management (ISM) Services Index.
Wednesday: Federal Open Market Committee (FOMC) Minutes.
Thursday: Jobless Claims.
Source: Econoday, April 1, 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
Wednesday: Levi Strauss & Co. (LEVI).
Thursday: Conagra Brands (CAG).
Source: Zacks, April 1 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: HCM-BUYLINE® FLASHES BUY, BUT TECHNICALS SUGGEST BETTER PRICES STILL TO COME
The market is way overbought so a technical pullback is a very high probability, therefore being a bit patient at this juncture is prudent and re-entering at a modest pace is advisable. There is lot of road left in 2022, and we are only in the third round of a ...[READ MORE] 7
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.
Self-Employed Tax Obligations
There are a few tax considerations to consider when you work for yourself. Generally, you’re required to file and pay estimated taxes every quarter.
Determine if you are subject to tax: Subtract your business expenses from your income. If your expenses are less than your income, the difference is part of your income. If your expenses are more than your income, the difference is a net loss.
Make quarterly payments if you’ve determined you need to make quarterly payments using Form 11040-ES.
Filing annually: If you’re filing annually, you’ll need to use Schedule C to report income or loss. To file your Social Security and Medicare taxes, you should file Schedule SE Form 1040.
Deductions: If you’re using part of your home for business, you may be able to make certain deductions, such as for your office or a portion of your home’s square footage used for business purposes.8
* 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.
Restorative Yoga - Long and Easy Stretching
Whether you have been curious about yoga but have never tried it, or if you're a seasoned yogi looking for something new, restorative yoga has something for everyone. This gentle yoga uses props like blocks, blankets, and straps. Stretches and poses are held for a longer time, yielding many benefits.
Here are a few ways that restorative yoga can be beneficial for many people:
- It can help with neck, low back, hip, and shoulder pain
- It can help with insomnia
- All ages widely practice it, and modifications are available
- It can relax the mind and help with anxiety
- It may help to cope with serious illnesses and life events
- It may improve respiratory and circulatory function
Check your local yoga studios or gyms to enroll in a restorative yoga class. If you can’t find one, there are online yoga courses you can try. It might be a stretch worth taking (ask your doctor if yoga might be right for you).9 You can also join us for CHAIR YOGA on Zoom every Thursday at 10:00am ☺
Servings: 8 Scones
Total Time: 40 mins
- 1 cup chopped rhubarb about 1-3 stalks, depending on size
- 1/2 cup granulated sugar
- 2 1/4 cups all purpose flour
- 1 Tbsp baking powder
- 1/2 tsp salt
- 1 tsp vanilla extract
- 8 Tbsp unsalted cold butter cut in pieces
- 1/2 cup possibly a little bit more cold buttermilk or half and half
- Preheat oven to 375 degrees F. Line a baking sheet with parchment paper and set aside.
- Add the sugar, flour, baking powder, and salt to the bowl of a food processor and pulse to combine.
- Drop in the pieces of cold butter and pulse about 20-25 times until the mixture resembles coarse crumbs.
- Remove the mixture to a large mixing bowl and add in the buttermilk or half and half, and vanilla extract, and mix gently with a large spoon until the dough just comes together, it will be crumbly. If it is very dry, drizzle in a little more buttermilk or half and half. Gently fold in the chopped rhubarb.
- Turn the mixture onto a floured surface and knead a few times with floured hands until the dough is one piece, without a lot of dry flour left. Pat it out into a rectangular shape and use a 3-inch biscuit cutter to cut out the scones. You can also cut the dough into squares if you prefer.
- Arrange the scones 2 inches apart on the lined baking sheet and bake for about 20 minutes, until just starting to turn golden. Don't over bake.
Footnotes and Sources
1. The Wall Street Journal, April 1, 2022
2. The Wall Street Journal, April 1, 2022
3. The Wall Street Journal, April 1, 2022
4. CNBC, March 29, 2022
5. CNBC, March 30, 2022
6. The Wall Street Journal, April 1, 2022
7. howardcm.com, March 29, 2022
8. IRS.gov, September 15, 2021
9. Mindbodygreen.com, June 27, 2012
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.
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