Pre-Holiday Optimism Lifts Markets

We are thrilled and overwhelmed by the incredible response to this year’s Casa Toy Drive! Thank you to everyone who has already donated—your generosity is making a profound difference.

As we approach thecut-off date of December 2, 2024, we encourage everyone to keep the momentum going. There’s still time to contribute and bring joy to children in foster care this holiday season.

How You Can Help:

Donate anew, unwrapped toy worth $20 or more, or a$25 Walmart or Target gift card. Every gift helps a child feel the love and support of our community.

Drop-Off Location:
McKnight Advisory Group
1800 S. Rutherford Blvd., Suite 202, Murfreesboro

Let’s work together to make this holiday season unforgettable for children in need. Your kindness can light up their holidays!

Thanksgiving became a national holiday in 1863, thanks to Sarah Josepha Hale, who campaigned for decades to create a unifying day of gratitude. During the Civil War, President Abraham Lincoln heeded her call, proclaiming the last Thursday of November as a day for Americans to reflect on their blessings and seek healing for the nation. This tradition was solidified in 1941 when it became a federal holiday. Hale’s persistence and Lincoln’s proclamation shaped Thanksgiving into a beloved celebration of unity and gratitude.

Stocks advanced last week, powering ahead with pre-holiday optimism despite geopolitical tensions and two disappointing Q3 corporate updates.

The Standard & Poor’s 500 Index rose 1.68 percent, while the Nasdaq Composite Index gained 1.73 percent. The Dow Jones Industrial Average led, picking up 1.96 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, was flat (-0.05 percent).^1,2

Stock Push Ahead

Stocks showed mixed results during the first half of the week due to geopolitical tensions that boosted precious metals and put pressure on Treasury yields.³

The Dow Industrials jumped out in front midweek and never looked back. Disappointing earnings on Tuesday from a large box retailer held back some gains in the broader S&P 500. A mixed Q3 update report from the nation’s leading AI chipmaking company also tempered gains a bit.⁴

Year-end optimism, especially around consumers driving a healthy holiday shopping season, supported the rally for much of the week. Fresh data that weekly jobless claims dropped to a seven-month low also lifted spirits.^5,6

^{Article from gsam.com : All Eyes on 2025}

“Keep some room in your heart for the unimaginable.”

– Mary Oliver

The moonbow at Cumberland Falls, known as the "Niagara of the South," is a rare and breathtaking phenomenon where moonlight refracts through the mist of the falls, creating a radiant rainbow in the night sky. One of the only places in the world where this occurs, it has inspired generations with its beauty and mystery. Local legend holds that seeing the moonbow brings good fortune, happiness, and even spiritual renewal, while Native American lore describes it as a bridge between the earthly and spirit realms. A symbol of love, unity, and connection to nature, the moonbow continues to draw dreamers, romantics, and adventurers to its mesmerizing glow, leaving all who witness it in awe.

Did You Know That You Have the Right to Challenge the IRS?

As a taxpayer, you can challenge the IRS’ position; this is part of the Taxpayer Bill of Rights, which outlines your fundamental rights when working with the IRS. 

With this right, you can:

• Raise objections to an IRS decision
• Provide additional documentation in response to proposed or formal IRS actions
• Expect the IRS to deliver a timely objection
• Have the IRS consider any supporting documentation promptly and fairly
• Receive a response from the IRS if they disagree with your position

In some circumstances, you may have a hearing before an independent Office of Appeals.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted fromIRS⁸

Zero-Waste Grocery Shopping Tips

There are many ways to have an eco-friendly shopping trip at the grocery store. Here are a few tips to reduce plastic usage and aim for a zero-waste trip to the store:

• When possible, buy your dry goods from the bulk bin; this saves on plastic packaging compared to the ready-made items in the aisles. 
• You can bring your bags, bulk containers, jars, or bulk bags from home. 
• If you can’t shop in bulk bins, look for dry goods or produce in aluminum cans, which are easier to recycle. 
• Paper or glass are both better for the environment than plastic. Choose eggs and milk in cardboard containers. 
• If you have to buy a plastic container of something, buy the biggest size available. It will last longer and use less packaging.

Tip adapted fromGreen Matters⁹

A palindrome is any word, phrase, or number that reads the same, either forward or backward. Can you think of a palindrome word spelled in all capitals that looks the same backward, forwards, or upside down?

Last week’s riddle: I’m not alive, yet I grow. I need air, yet I have no lungs. I lack a mouth, yet water will calm me down. What am I? Answer:Fire.

Clown Anemonefish

Maldives, South Asia

Footnotes and Sources

^{1.The Wall Street Journal, November 22, 2024}

^{2.Investing.com, November 22, 2024}

^{3.MarketWatch.com, November 19, 2024}

^{4.CNBC.com, November 20, 2024}

^{5.CNBC.com, November 21, 2024}

^{6.MarketWatch.com, November 21, 2024}

^{7.The Wall Street Journal, November 22, 2024}

^{8.IRS.gov, July 5, 2024}

^{9. Green Matters, July 24, 2024}