Something to Celebrate – Congratulations to Ian (plus the weekly news)
Greeting Eagle Wealth Community,
The sun is shining in Bend which makes everything feel just a little bit better. We hope you’re taking time to unwind and managing to still connect with others.
One of our team members gave us something to celebrate this month…albeit virtually. Read below to learn about Ian’s big accomplishment and keep scrolling to “The Lighter Side” for insight into Mat Hunnicutt’s life.
We’re thinking about you and are here to support you though this time. Please don’t hesitate to call if you have questions or need some help.
Your Eagle Wealth Team
Ian Laimbeer Earned his CFP® Certificate
We’re proud to announce Ian earned his Certified Financial PlannerTM designation this month, the standard of excellence in our industry. Ian passed the rigorous test after devoting countless days and nights studying over the last couple years.
“All of us at Eagle Wealth Management congratulate Ian. As always, he puts his heart into anything he sets his mind to. This milestone demonstrates his continued commitment to our clients and the financial planning profession.” said Chad Staskal, CFP®.
CFP® professionals are trained in 72 areas of financial expertise and must accrue thousands of hours of experience, along with meeting ethics and education requirements prior to earning their certification. Please join us in congratulating Ian.
Fun Fact: An extra congrats to Ian for this early career achievement as only 5.3% of CFP professionals are under the age of 30[i].
About the CERTIFIED FINANCIAL PLANNER TM Certification
CERTIFIED FINANCIAL PLANNERTM professionals complete extensive training and are held to the highest ethical standards. They are known for their comprehensive financial planning and are required to act in their client’s best interest. To earn the designation, one must complete the following:
- Examination - pass a rigorous test administered by the Certified Financial Planner Board of Standards.
- Ethics – commit to act as a fiduciary at all times, and uphold the principles of integrity, objectivity, competence, fairness and confidentiality.
- Experience – obtain at least three years of hands on experience in the financial planning process.
- Education – earn a bachelor’s degree and complete a comprehensive course which covers a personal financial planning curriculum approved by the CFP® board. In addition, a CFP® professional must complete continuing education based on professional competency and ethics.
Learn more at www.letsmakeaplan.org.
The Week on Wall Street
Stock prices pushed higher last week as news of a White House plan to reopen the economy and reports of a potential COVID-19 treatment helped the market overcome weak economic data and an ugly start to the corporate earnings season.
The Dow Jones Industrial Average rose 2.21%, while the Standard & Poor’s 500 advanced 3.04%. The Nasdaq Composite Index gained 6.09% for the week. The MSCI EAFE Index, which tracks developed overseas stock markets, slumped 1.75%.[i],[ii],[iii]
Until last week, the extent of the economic damage from COVID-19 lacked a lot of hard data. With the release of retail sales (down 8.7% for March), industrial production (down 5.4% in March), and new jobless claims of 5.2 million (bringing the four-week total to 22 million), the scope of economic trouble became clearer.[iv],[v],[vi]
Stocks wavered throughout the week as investors digested the economic data and balanced the reports against signs that the pandemic may have peaked. With news of a plan to restart the economy and promising test results of a COVID-19 treatment, market sentiment turned positive, sending stocks higher on the final day of trading and cementing the second consecutive week of gains.
Large banks kicked off the quarterly earnings season, reporting declines in profits as they hiked loan loss reserves and saw a contraction in consumer credit card use. The large loan loss reserves represent a sobering view on just how much the banks believe small businesses and consumers may be affected by the economic downturn.
With bank earnings reports, investors got an important – but limited – view of the state of the economy. This week’s earnings reports are expected to provide a much broader cross-section of the economy, with a number of consumer products, technology, industrial, transportation, and communication services companies reporting.
THIS WEEK: KEY ECONOMIC DATA
Tuesday: Existing Home Sales.
Thursday: New Home Sales. Jobless Claims.
Friday: Durable Goods Orders. Consumer Sentiment.
Source: Econoday, April 17, 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
Monday: IBM (IBM), Halliburton (HAL)
Tuesday: Netflix (NFLX), Procter & Gamble (PG), Coca-Cola (KO), United Airlines (UA)
Wednesday: Facebook (FB), AT&T (T), Boeing (BA), Tesla (TSLA), Visa (V)
Thursday: Amazon (AMZN), Intel (INTC), Starbucks (SBUX), 3M Company (MMM), Southwest Airlines (LUV)
Friday: Verizon (VZ), American Airlines (AAL), American Express (AXP)
Source: Zacks, April 17, 2020
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Any investment should be consistent with your objectives, time frame and risk tolerance. 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, April 17, 2020. The market indexes discussed are unmanaged and generally considered representative of their respective markets. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results. 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.
[ii] The Wall Street Journal, April 17, 2020. The market indexes discussed are unmanaged and generally considered representative of their respective markets. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results. 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.
[iii] The Wall Street Journal, April 17, 2020.
[iv] The Wall Street Journal, April 15, 2020.
[v] MarketWatch, April 15, 2020.
[vi] The Wall Street Journal, April 16, 2020.