Looking back at our favorite winter pastimes
Dear Eagle Wealth Community,
Our most important job here at Eagle Wealth is to keep your financial plan on track so you can focus on what really matters. That means more time for making memories with your family, savoring moments of connection, and building a life you love. We think some of the best things in life are free, including nostalgic winter traditions. Why do we hold these customs so close to our hearts? Because they spark joy during a cold, dark winter and a little familiarity might be just what we need. They help us build bonds, strengthen our kinship, and help us feel close together even when we're far apart (thanks 2020).
To get you in the spirit, we thought we'd share some Eagle Wealth team winter traditions.
"Cutting down a Christmas Tree and making decorations for the tree’s annual theme. This year it was a tree full of angels, we used all the wine corks from our COVID quarantine and turned them in to angels!" - Mat
"Ever since the kids were little, we've saved all the Christmas stuffed animals from over the years. They are the first thing we put under the tree" - Matt
"Making Grandma Candies and Cornflake Wreath treats with my mom, sisters, nieces and nephews." - Suzanne
"My friends & I play “winter golf” on our quiet circle. We use a tennis ball instead of golf ball, a 3 iron, metal crampons as golf shoes, snowballs as tees and spray-painted holes on the packed snow or ice of our road." – Mike (lives in Wisconsin)
"Making peanut butter blossoms (love those) and spending time with family. Going to church the night before Christmas – singing Silent Night with candlelight is my favorite. Also, hot take: Die Hard is a Christmas movie." - Ian
We hope reading about our traditions brought you cheer. Stay tuned next week for the 2nd round of festive sharing. So, break out the eggnog, whip up grandma's fruitcake recipe, or unpack those ugly sweaters. What’s your favorite winter pastime?
Your Eagle Wealth Team
The Week on Wall Street
Stocks retreated last week on rising COVID-19 infections and slow progress on an economic relief bill.
The Dow Jones Industrial Average dipped 0.57%, while the Standard & Poor’s 500 dropped 0.96%. The Nasdaq Composite index fell 0.69% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, declined 0.05%.[i],[ii],[iii]
Stimulus Stalls, Stocks Stumble
The market grappled all week with worries over rising COVID-19 cases and the economic restrictions that followed. Nevertheless, there were moments of optimism— such as the starting of vaccinations in the U.K.— that drove markets to record highs.[iv]
But gains could not be sustained as an agreement on a fiscal stimulus bill remained elusive and daily news regarding COVID-19 cases undermined investor sentiment.
Markets were also challenged by having to absorb a number of new and secondary stock offerings last week, including two high-profile technology IPOs. The Energy sector continued its strong run, while small and mid-cap stocks posted another week of positive performance.[v]
A “No-Deal” Brexit More Likely
The prospects of an agreement to manage Britain’s exit from the European Union by year end dimmed as the two parties failed to narrow their differences in a meeting held last week.[vi]
Though primarily a European issue, a no-deal Brexit may hold consequences for U.S. businesses and investors. The failure to reach an agreement has the potential to disrupt an already fragile supply chain and cause issues in the financial markets. A supply chain disruption may weaken European economies (e.g., Germany) that are important to American companies. Another consequence may be a stronger U.S. dollar, which would make American exports more expensive and less competitive.
Little time remains in striking an agreement since the prevailing framework ends December 31, 2020.
THIS WEEK: KEY ECONOMIC DATA
Tuesday: Industrial Production.
Wednesday: Retail Sales, Federal Open Market Committee (FOMC) Announcement.
Thursday: Housing Starts, Jobless Claims.
Friday: Index of Leading Economic Indicators.
Source: Econoday, December 11, 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
Thursday: General Mills (GIS)
Friday: Darden Restaurants (DRI)
Source: Zacks, December 11, 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, December 11, 2020
[ii] The Wall Street Journal, December 11, 2020
[iii] The Wall Street Journal, December 11, 2020
[iv] USAToday.com, December 8, 2020
[v] CNBC.com, December 10, 2020
[vi] CNBC.com, December 9, 2020