Stocks React to Key Data and Earnings

Murfreesboro: From Revolution to Civil War Legacy

Murfreesboro, a historic city in Tennessee, was designated as the seat of Rutherford County in 1811. Originally called "Cannonsburgh" to honor politician Newton Cannon, the city was later renamed Murfreesboro in tribute to Colonel Hardy Murfree, a courageous Revolutionary War hero celebrated for his bravery in pivotal battles like the Battle of Stony Point. Despite never residing in the area, Murfree's impactful contributions to the nation's early history led to this honor. Murfreesboro briefly held the title of Tennessee's state capital from 1818 to 1826 before it was relocated to Nashville. The city played a crucial role during the Civil War, especially during the Battle of Stones River, a historic event commemorated by the Stones River National Battlefield. Today, Murfreesboro is distinguished as the home of Middle Tennessee State University. It was founded in 1911 and is renowned for its vibrant cultural events, such as the annual Uncle Dave Macon Days. Its rich history and dynamic community make Murfreesboro a cherished cornerstone of Middle Tennessee's heritage.

There were mixed results for stocks last week as upbeat economic data and a critical Q2 corporate report shaped the week.

The Dow Jones Industrial Average rose 0.94 percent, while the Standard & Poor’s 500 Index increased 0.24 percent. The Nasdaq Composite lagged, falling 0.92 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, gained 0.35 percent.^1,2

Key Economic Data

Markets began the week quiet as investors awaited Q2 earnings from Nvidia, the world’s most influential name in artificial intelligence.

The chipmaker–the second largest stock in the S&P 500 by market capitalization–dipped on the news, putting pressure on the Nasdaq and S&P 500. (The Nasdaq and S&P 500 are market-weighted averages, so larger companies have an outsized impact.)³

Nvidia is mentioned to show its influence on the overall stock market. It should not be considered a solicitation for the purchase or sale of the company.

On Thursday, an upward revision in Gross Domestic Product (GDP) data boosted markets, although stocks fell later in the day. Friday’s Personal Consumption and Expenditures (PCE) data seemed to confirm that inflation remained tame, welcome news for investors who are anticipating the Fed may adjust rates in September.⁴

Article from gsam.com: Bare Necessities

“Nothing will ever be attempted, if all possible objections must be first overcome.”

– Samuel Johnson

Reporting Cash Payments

Individuals, companies, corporations, partnerships, associations, trusts, and estates must report cash transactions of more than $10,000. These cash payments can include jewelry sales, a gift from a family member, an overseas purchase, or any other cash transaction. You also need to report cash payments received in one lump sum, in two or more related payments within 24 hours, or as part of a single transaction or two or more transactions in the previous year. 

All you need to do is file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business. The form requires information about the giver and receiver of the cash, a description of the transaction, and information about any other parties involved.

*This information is not intended to be a substitute for specific, individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov⁷

What Are Alkaline Foods, and How Can They Benefit You?

Eating healthy foods and exercising are two primary components of a healthy lifestyle, but maintaining a healthy pH is another. All foods are either acidic or alkaline, and knowing which can help you lose weight, reduce inflammation, and have more energy. Our kidneys control our body’s pH levels, and focusing on an alkaline diet may help them do their job more efficiently.  

Alkaline foods include legumes, vegetables, fruits, nuts, and natural fats. An alkaline-based diet focuses more on these foods and less on processed foods, dairy, grains, and alcohol, all of which are acidic. 

While there's still some debate over whether the alkaline diet is all it’s cracked up to be, it may offer more health benefits because it is rooted in eating whole, unprocessed foods.

Tip adapted fromHealthline⁸

Zucchini Noodles with Pesto and Grilled Vegetables

Ingredients:

For the Zucchini Noodles:

• 4 medium zucchinis, spiralized into noodles
• 1 tablespoon olive oil
• Salt and pepper to taste

For the Pesto:

• 2 cups fresh basil leaves
• 1/4 cup pine nuts or walnuts
• 1/4 cup olive oil
• 2 tablespoons nutritional yeast (for a cheesy flavor)
• 1 clove garlic, minced
• Juice of 1 lemon
• Salt and pepper to taste

For the Grilled Vegetables:

• 1 red bell pepper, sliced
• 1 yellow bell pepper, sliced
• 1 red onion, sliced
• 1 cup cherry tomatoes
• 1 tablespoon olive oil
• Salt and pepper to taste

Instructions:

1. Prepare the Pesto:

   • In a food processor, combine the basil leaves, pine nuts or walnuts, nutritional yeast, garlic, and lemon juice.
   • Pulse until the mixture is finely chopped.
   • While the food processor is running, slowly drizzle in the olive oil until the pesto is smooth and creamy.
   • Season with salt and pepper to taste and set aside.

2. Grill the Vegetables:

   • Preheat a grill or grill pan over medium-high heat.
   • Toss the sliced bell peppers, red onion, and cherry tomatoes with olive oil, salt, and pepper.
   • Grill the vegetables for 5-7 minutes, turning occasionally, until they are tender and have nice grill marks.

3. Cook the Zucchini Noodles:

   • In a large skillet, heat 1 tablespoon of olive oil over medium heat.
   • Add the zucchini noodles and sauté for 2-3 minutes until they are just tender but still have a slight crunch.
   • Season with salt and pepper.

4. Assemble the Dish:

   • Toss the zucchini noodles with the prepared pesto until they are evenly coated.
   • Top the noodles with the grilled vegetables.

5. Serve:

   • Serve immediately as a light and refreshing alkaline main dish. You can garnish with extra basil leaves or a sprinkle of nutritional yeast if desired.

Brian bets Denise that he can find something made out of wood in his workshop that can’t be sawed. Brian wins the bet; what is this common substance?

Last week’s riddle: Anna, a supermarket clerk, has not slept during any of the past six nights, yet she is not tired. How can this be?Answer: Anna sleeps in the daytime.

Western Arctic caribou herd
National Petroleum Reserve, Alaska, United States

Footnotes and Sources

^{1.The Wall Street Journal, August 30, 2024}

^{2.Investing.com, August 30, 2024}

^{3.CNBC.com, August 28, 2024}

^{4.The Wall Street Journal, August 30, 2024}

^{5.The Wall Street Journal, August 29, 2024}

^{6.CNBC.com, August 30, 2024}

^{7. IRS.gov, May 8. 2024}

^{8.Healthline.com, May 8, 2024}