We’re Campaigning! But Not How You’d Expect
Hello Eagle Wealth Community,
It's back to school season and it has us thinking — what can we do to support our kids? Well, a few weeks ago we launched our social media pages, so it seems like a perfect time for a Facebook promotional campaign. We want our social media community to reflect the same warmth and intent as our conversations in the office. We need your help in creating this space, after all, engaging digitally is like having a conversation — we need both a speaker and a listener.
For the rest of September, any Eagle Wealth community member that "likes" our Facebook page will be entered into a drawing for a $100 charitable contribution made in their name. So, head on over to our page and "like" us. We can't wait to connect and enter you into the drawing. We'll draw 3 names and announce the donation recipients in the beginning of October.
Here are a few of the children's focused non-profits the "like" campaign winners will get to choose from. If you’d like to suggest another organization, hop on over to our Facebook page and leave us a comment!
We look forward to giving with you!
Your Eagle Wealth Team
P.S. For those of you who already "liked" us, don't fret, you'll be automatically entered.
Feeling uneasy about the markets? Watch this video.
Rapid market fluctuations have continued, often shaking investors. If you're feeling uneasy, we invite you to check out the volatility video our CEO, Chad Staskal, recorded in June as it's now more relevant than ever. We often think we're at the mercy of the market and we forget to focus on what we can control. When we set our emotions aside, the uncertainty of volatility becomes a little clearer. Click here to watch Chad explain the good news about bad days.
And please give us a call if you have questions or concerns. We’re always here to help.
The Week on Wall Street
A late week sell-off sent stocks broadly lower as investors took some profits after stocks reached all-time highs earlier in the week.
The Dow Jones Industrial Average slid 1.82%, while the Standard & Poor’s 500 slumped 2.31%. The Nasdaq Composite index dropped 3.27% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 0.62%.[i],[ii],[iii]
Gravity Reasserts Itself
Stocks hit a wall late last week as the technology companies, which had led the market higher, slipped in Thursday and Friday trading, dragging down the overall market.
The week began on an upbeat note as August momentum continued into the start of September. While participation in the rally on Tuesday and Wednesday was fairly broad, technology stocks continued to be the focus of market strength. But that sentiment changed quickly on Thursday.
With little warning and no obvious catalyst, it remains unclear whether the technology selloff last week was the result of market technicals or a fundamental change in investor outlook. The coming weeks may provide some clarity in this regard.
Labor Market Recovery Sputters Forward
Last week saw a series of employment-related reports that evidenced a continued labor market recovery.
The Automated Data Processing (ADP) employment survey showed that private payrolls increased by 428,000 in August, falling short of consensus expectations of over 1.1 million.News turned more positive as new jobless claims checked in at 881,000—an improvement from the over one million new claims the prior week. Americans receiving unemployment declined by 1.24 million to 13.3 million—half the peak number in May.[iv],[v],[vi]
Finally, the monthly jobs report indicated that nearly 1.4 million nonfarm jobs were added last month, with the unemployment rate declining to 8.4%. The progress was predominantly attributable to government hiring, primarily of new Census workers, though the retail, leisure, and hospitality sectors saw gains in new hiring.[vii]
THIS WEEK: KEY ECONOMIC DATA
Wednesday: Job Openings and Turnover Survey (JOLTS).
Thursday: Jobless Claims.
Friday: Consumer Price Index (CPI).
Source: Econoday, September 4, 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: Lululemon (LULU), Coupa Software (COUP), Slack Technologies (WORK)
Thursday: Chewy (CHWY), Peloton (PTON)
Friday: Kroger (KR)
Source: Zacks, September 4, 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, September 4, 2020
[ii] The Wall Street Journal, September 4, 2020
[iii] The Wall Street Journal, September 4, 2020
[iv] CNBC, September 2, 2020
[v] CNBC, September 3, 2020
[vi] CNBC, September 3, 2020
[vii] CNBC, September 4, 2020