What You Need To Know This Week- 08.02.21

What You Need To Know This Week- 08.02.21

August 02, 2021
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Market Shows Small Loss

August 2, 2021

The stock market posted small losses last week despite a very strong showing by corporate America.

The Dow Jones Industrial Average slipped 0.36%, while the Standard & Poor’s 500 lost 0.37%. The Nasdaq Composite index dropped 1.11% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, jumped 1.51%. 1


Stocks Take a Breather

There were plenty of excuses for stocks to retreat last week. News of a new phase in Chinese regulators’ crackdown on large, private-sector companies, a decline in new home sales, and concerns about the Delta variant weighed on investors.

After opening the week adding to record highs, stocks turned lower despite an earnings season that continued to impress.

Solid earnings from the mega-cap technology companies were not enough to propel stocks higher. Instead, stocks slipped throughout the week, fighting uncertainty over Chinese stocks, a disappointing second-quarter Gross Domestic Product number, and a retreat in technology shares they reset to fresh company guidance.

Chinese Crackdown

Chinese technology stocks were under pressure last week as Chinese regulators continued their push to rein in large companies for reasons that include data security, abusive corporate behavior, financial stability, and curtailing private-sector power.

Chinese government actions raised new levels of concerns about which industries may next fall in the crosshairs of regulators. American investors have plenty of exposure to Chinese companies. Substantial losses were felt by mutual funds and hedge funds, which account for about 86% of the holdings in the over 200 U.S.-listed Chinese companies whose aggregate market capitalization exceeds $2 trillion. 2

This Week: Key Economic Data

Monday: ISM (Institute for Supply Management) Manufacturing Index.

Tuesday: Factory Orders.

Wednesday: ADP (Automated Data Processing) Employment Report. ISM (Institute for Supply Management) Services Index.

Thursday: Jobless Claims.

Friday: Employment Situation Report.

Source: Econoday, July 30, 2021
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: Simon Property Group, Inc. (SPG).

Tuesday: Alibaba Group Holdings (BABA), Activision Blizzard, Inc. (ATVI), Amgen, Inc. (AMGN), Eli Lilly & Company (LLY), Diageo, PLC (DEO).

Wednesday: Roku, Inc. (ROKU), Prudential Financial, Inc. (PRU), CVS Health Corporation (CVS), General Motors, Inc. (GM), Etsy, Inc. (ETSY), Electronic Arts, Inc. (EA), MGM Resorts International (MGM), Match Group, Inc. (MTCH), Emerson Electric Co. (EMR), Booking Holdings (BKNG).

Thursday: Square, Inc. (SQ), Illumina, Inc. (ILMN), Duke Energy Corporation (DUK), Albemarle Corporation (ALB), Cigna Corporation (CI), Becton, Dickinson and Company (BDX), Regeneron Pharmaceuticals, Inc. (REGN).

Friday: Dominion Energy (D).

Source: Zacks, July 30, 2021
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.

FREE CHAIR YOGA!!!  Yes, that’s right…Free Chair Yoga offered weekly online.

Chair Yoga is a fantastic way for adults, especially older adults, to loosen and stretch painful muscles, lower stress and improve circulation. Just like a traditional yoga practice, chair yoga poses gives you all the health benefits to build strength and balance while reducing anxiety without having to worry about balancing on your head.   

We invite you (and friends) to join us Thursdays at 10:00 am (EST) as we go LIVE each week online through Zoom.

To register, click the link below. 

Breathe, Let go, Recharge.

PASSCODE: yoga

"The markets are trading pretty much as we anticipated. The HCM-BuyLine® is positive and is still very strong, so any pullback should be bought. July and August are historically slow months and usually produce nothing but volatility; this seems to be holding true in 2021. We do expect the market to be higher by year-end." 3

-Vance Howard

READ MORE HERE


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. 

Download Full Calendar Here


How to Apply for Tax-Exempt Status for Organizations

If an organization wants to apply for tax-exempt status under Section 501(c)(3), they start by filling out a Form 1023-series application. They must submit a complete application, as well as the user fee. To complete the application, organizations also need their employer identification number. Generally, an organization that is required to apply for recognition of exemption must notify the IRS within 27 months from the date it was formed.

Some organizations, including churches or public charities whose annual gross receipts are normally less than $5,000, may not need to apply for 501(c)(3) status to be tax-exempt. When the IRS determines an organization qualifies for exemption under Section 501(c)(3), it will also be classified as a foundation, unless the organization meets the requirements to be treated as a public charity. 4

* 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.

Brain Health Supplements: Are They Worth the Hype?

Over-the-counter brain health supplements claim to improve memory and promise enhanced memory and sharper attention and focus. Unfortunately, the FDA doesn't oversee product testing or ingredient accuracy but instead looks for supplements that make health claims related to treating specific diseases. Because of this, a brain health supplement could claim that it helps with mental alertness or memory loss.

Most brain health supplements contain omega-3 fatty acids such as those found in fish oil. Rather than choose a supplement, some health professionals recommend eating a healthy diet full of healthy fats and vitamins and minerals instead. Also, exercising your brain like any other muscle may help with memory. Learning something new every day is a great way to keep your brain moving. 5

Triple Berry Crisp

18 servings

Time: 60 mins


INGREDIENTS

  • 1 ½ cups fresh blackberries
  • 1 ½ cups fresh raspberries
  • 1 ½ cups fresh blueberries 
  • 4 tablespoons white sugar
  • 2 cups all-purpose flour 
  • 2 cups rolled oats
  • 1 ½ cups packed brown sugar
  • 1 teaspoon ground cinnamon
  • ½ teaspoon ground nutmeg
  • 1 ½ cups butter

DIRECTIONS

  1. Preheat oven to 350 degrees F (175 degrees C).
  2. In a large bowl, gently toss together blackberries, raspberries, blueberries, and white sugar; set aside.
  3. In a separate large bowl, combine flour, oats, brown sugar, cinnamon, and nutmeg. Cut in butter until crumbly. Press half of mixture in the bottom of a 9x13 inch pan. Cover with berries. Sprinkle remaining crumble mixture over the berries.
  4. Bake in the preheated oven for 30 to 40 minutes, or until fruit is bubbly and topping is golden brown. 6


Footnotes and Sources

1. The Wall Street Journal, July 30, 2021

2. Yahoo Finance, January 7, 2021

3.  Howardcm.com, July 29, 2021

4.  IRS.gov, January 8, 2021

5.  Health.harvard.edu, September 2019

6. Allrecipes.com

 




McCarthy Financial Group's Blog: Market Insights & Wealth Watch

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.

Copyright 2021 FMG Suite.


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