3 New Ways to Get Social with Eagle Wealth
Dear Eagle Wealth Community,
If one thing is for sure, it's that the world is always changing, and we have to adapt to keep up. There's been a lot of shifts in how we interact with you this year. We're missing your faces in person and we're ready to connect with you in new ways. That means Eagle Wealth is going social! We recently launched our social media pages so you can keep up with us.
Like us on Facebook for access to helpful whitepapers, community interaction, or catch a glimpse of Eagle Wealth office comradery.
Subscribe to our YouTube channel to get early access to our personalized videos and market commentaries.
Connect on LinkedIn to read educational articles and grow your professional network.
We're excited to share content that's meaningful to you and engage in a whole new way.
See you (virtually) soon,
Your Eagle Wealth Team
Small gestures to let others know they matter can go a long way. Sometimes communities can be made up of people we see daily but also, those we see less often but still hold close to our hearts. Recently, a client nominated a former neighbor to receive a well-deserved treat.
“She is 82 years old and the oldest employee at the Fred Meyer where she works 4 days a week. She doesn't have a lot of extra spending money, so she doesn't treat herself all that often. She was very excited to be able to take her sister to their favorite local restaurant. “
We sent her a $100 gift certificate to Linn City Pub in West Linn. We are thrilled that she’ll get quality time with her sister and let someone else do the dishes!
This week we invite you to think about your neighbors and consider if any of them could use a little extra kindness. Sign up now for our next drawing on Wednesday, August 26th.
The Week on Wall Street
Stocks powered to another week of gains as the S&P 500 and Nasdaq Composite set multiple new record highs along the way.
The Dow Jones Industrial Average was essentially unchanged while the Standard & Poor’s 500 rose by 0.72%. The Nasdaq Composite index added 2.65% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slipped 0.71%.[i],[ii],[iii]
The S&P 500 Sets Record High
The S&P 500 closed at a record high on Tuesday, erasing the steep losses suffered in February and March. The recovery has been powered by unprecedented monetary accommodation, fiscal stimulus, and investor willingness to look ahead with confidence that global economies will get past the pandemic challenge. Technology stocks continued to lead the market and helped push the NASDAQ Composite to new highs.[iv]
Stocks were mixed as the week progressed amid some weak economic news, a message of economic caution from the Fed, and continuing uncertainty over a new fiscal stimulus plan.Technology momentum provided support for the broader market, with a late Friday afternoon rally pushing the S&P 500 and Nasdaq Composite to close out the week at fresh record highs.[v]
Not All Sectors Are Participating
Behind last Tuesday’s headline that the S&P 500 had set a new record high lies a story of a deeply bifurcated market.
Despite a new high, more than half the companies in the index were still trading below where they began the year. When dissected on an industry sector basis, the year-to-date performance dispersion was quite wide, with sectors like Technology (+25.53%), Consumer Discretionary (+16.68%), and Communication Services (+12.70%) posting strong performance, while Energy (-37.56%) and Financials (-20.08%) remained sharply down. In fact, nearly half (5 out of 11) of S&P 500 sectors were still in negative territory year-to-date.[vi],[vii],[viii]
THIS WEEK: KEY ECONOMIC DATA
Tuesday: Consumer Confidence. New Home Sales.
Wednesday: Durable Goods Orders.
Thursday: Jobless Claims. Gross Domestic Product (GDP).
Friday: Consumer Sentiment.
Source: Econoday, August 21, 2020
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: Salesforce.com (CRM), Best Buy (BBY), Intuit (INTU)
Thursday: Marvell Technology (MRVL), Dollar General (DG), Dollar Tree (DLTR), Dell Technologies (DELL), VMware (VMW)
Source: Zacks, August 21, 2020
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.
[i] The Wall Street Journal, August 21, 2020
[ii] The Wall Street Journal, August 21, 2020
[iii] The Wall Street Journal, August 21, 2020
[iv] The Wall Street Journal, August 18, 2020
[v] CNBC.com, August 19, 2020
[vi] BBC News, August 18, 2020
[vii] FactSet.com, August 21, 2020
[viii] FactSet.com, August 21, 2020