We’re in the last stretch of tax season, and boy has this year been different for us now that Hans Doorn, CPA, and Kim Brush joined us in creating our very own Eagle Wealth accounting team. Tax season brought a buzz of extra energy to the office this year…and a lot of papers!
As you work on your taxes, and maybe on some financial spring cleaning, perhaps you’ve found yourself with an abundance of paper as well. If so, then mark your calendar as we’re hosting another shred event.
Please drop by the Eagle Wealth parking lot for a late afternoon Shred & Sip on Friday, May 6th from 3:30 p.m. - 6:00 p.m. Come say hello to the team, enjoy drinks and small bites from Board in Bend, and meet Hans and Kim if you haven’t had the chance to yet.
We’ve asked Data Delete of Oregon to be at our office to shred your documents for free. Afterwards, you’re welcome to leave your car in our parking lot, make a night of it, and head downtown to the First Friday ArtWalk!
Will we see you there? RSVP here.
If the task of sorting through stack of paper seems daunting, check out our financial housekeeping recommendations. Remember, you can use your WealthView vault to electronically store your important documents.
Don’t miss your chance to get rid of the clutter, say hello to the Eagle Wealth 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 too. We’ve missed seeing you in person and look forward to catching up with you soon.
Your Eagle Wealth Team
The Week on Wall Street
Stocks spent last week digesting the sharp gains of previous weeks as investors assessed a tightening yield curve, the war in Ukraine, and an uncertain outlook for economic growth and inflation.
The Dow Jones Industrial Average slipped 0.12%, while the Standard & Poor’s 500 was flat (+0.06%). The Nasdaq Composite index led, picking up 0.65% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 1.02%.1,2,3
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.
With economic growth worries overhanging the market, last week’s employment reports showed continued strong demand for workers. The Job Openings and Labor Turnover Survey reported the number of open positions remained near record highs, with job openings exceeding the number of available workers by a record five million. Afterward, the Automated Data Processing employment report saw private payrolls grow by 455,000 in March, slightly above consensus expectations.4,5
Finally, the government’s monthly jobs report showed that employers added 431,000 jobs in March, lowering the unemployment rate to 3.6%. That’s approaching the 50-year low of 3.5% reached in February 2020.6
THE WEEK AHEAD:
KEY ECONOMIC DATA
Monday: Factory Orders.
Tuesday: Institute for Supply Management (ISM) Services Index.
Wednesday: Institute for Supply Management (ISM) Services Index.
Thursday: Institute for Supply Management (ISM) Services Index.
Source: Econoday, April 1, 2022
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
Wednesday: Levi Strauss & Co. (LEVI).
Thursday: Conagra Brands (CAG).
Source: Zacks, April 1 2022
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.