It’s almost summer and our calendars are sure filling up fast. We’re so happy that tax season and spring cleaning is finally behind us. Now that the season is over, do you have a big pile of old documents you’d like to have securely shredded?
We’ve asked Data Delete of Oregon to be at our office on Friday, July 16th from 9am-11am to shred your documents for free! Don’t miss your chance to get rid of the clutter, say hello to the EWM team, and cross this task off your to-do list. Make sure to bring your friends and family members to take advantage of this service.
What you need to know about financial housekeeping.
Don’t miss your chance to get rid of the clutter, say hello to the EWM team, and cross this task off your to-do list. Make sure to bring your friends and family members to take advantage of this service.
You’ll get to visit with the Eagle Wealth team while enjoying coffee and donuts. Who can turn down a donut, right? We’ll also have a giveaway table for you to stock up on all your favorite Eagle Wealth gear.
We’ve missed seeing you in person and look forward to catching up with you soon.
Will you join us?
Your Eagle Wealth Team
The Week on Wall Street
Stocks ended the week mixed as investors appeared to shrug off a hotter-than-expected inflation report.
The Dow Jones Industrial Average slipped 0.80%, while the Standard & Poor’s 500 advanced 0.41%. The Nasdaq Composite index led, tacking on 1.85%. The MSCI EAFE index, which tracks developed overseas stock markets, rose 0.31%.1,2,3
Another Quiet Week
The market traded in a narrow range for much of last week as investors anxiously awaited the release of the Consumer Price Index (CPI) on Thursday.
May’s CPI saw an increase in inflation that exceeded most expectations. Paradoxically, markets advanced on the news, sending the S&P 500 to a new record close and the technology-heavy NASDAQ Composite higher. Perhaps equally unexpected was the decline in the 10-year Treasury yield, which slipped to 1.45%, touching its lowest level in three months.4
On Friday, stocks were unable to materially build on the previous day’s advance, though the S&P 500 managed to add onto its record Thursday close.
Consumer prices headed higher in May, rising 0.6% from April and by 5.0% from a year ago. It was the largest jump in the CPI since August 2008. Core inflation, which excludes food and energy prices, rose 3.8% — the sharpest increase in nearly three decades.5
Automobile prices were one of the primary contributors to May’s number. Used car and truck prices jumped 7.3% month-over-month and by 29.7% from a year ago. New cars experienced their highest monthly increase since October 2009 as a result of an inventory shortage stemming from tightness in the semiconductor supply.6
THE WEEK AHEAD:
KEY ECONOMIC DATA
Tuesday: Retail Sales. Industrial Production.
Wednesday: FOMC (Federal Open Market Committee) Announcement.
Thursday: Index of Leading Economic Indicators. Jobless Claims.
Source: Econoday, June 11, 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.
THE WEEK AHEAD:
COMPANIES REPORTING EARNINGS
Tuesday: Oracle Corporation (ORCL).
Thursday: The Kroger Co. (KR).
Source: Zacks, June 11, 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.