Welcome Our Newest Team Member: Shelli Jessi
"January is my favorite month and not just because it begins with my birthday (Jan. 3)." - LOL!
l love fresh starts, New Year goals and the adventures of living life to my fullest! My life motto comes from Micah 7:7; "But me; I'm not giving up. I'm sticking around to see what God will do. I'm waiting for God to make things right." (The Message). Another verse based on focus is from Colossians 3:2; "Set your mind on things that are above...." I believe in looking upward and outward for each day with a positive attitude.
My three favorite words are Family, Friends and FUN! I am blessed to live close to family here in Rutherford County and Louisville, KY, with many long-term friendships here in Middle Tennessee and across the country. If I don't already have a friend in the State, I would like to travel and bring a friend with me or make a new one!
It has been a great joy and privilege to work alongside my colleagues at McKnight Advisory Group. My colleagues provide a standard of excellence and have welcomed me in as one of the family! Working alongside Hillary Broome (aka "Mr. Medicare") since joining their Medicare team just prior to the 2022 Annual Enrollment Period, has provided a wealth of education and expertise necessary to assist our clients in the navigating through the Medicare process."
Municipal Bond Opportunities
Stocks End Lower
Steps by China to move past its zero-Covid policies triggered concerns that its economic reopening might aggravate inflation pressures, sending stocks lower and bond yields higher to begin the week. Technology stocks saw the most significant hit.
With dimming prospects of a Santa Claus rally (the historical tendency of stocks to rise in the final trading days of the year and the first two days of the new year), stocks rebounded strongly on Thursday to erase the losses of the previous two days. However, stocks again turned lower to end the week with small losses.
Lower Risk Appetite Amid Uncertainty
In an otherwise slow week for news, two monthly reports were released highlighting the market's headwinds. The first was State Street’s Investor Confidence Index, which measures the risk appetite of institutional investors. The December report showed the confidence of large asset managers in investing in risk assets, like stocks, has dropped over the past two months, explaining, in part, why stocks may have struggled of late.4
Meanwhile, the Atlanta Fed released its Survey of Business Uncertainty, which reflected both declining expectations around sales growth and employment, along with growing uncertainty about revenue and employment growth over the next 12 months.5
This Week: Key Economic Data
Tuesday: Purchasing Managers’ Index (PMI)-Manufacturing. Institute of Supply Management (ISM) Manufacturing. Job Openings and Labor Turnover Survey (JOLTS).
Thursday: Jobless Claims. Automated Data Processing (ADP) Employment Report. Purchasing Managers’ Index (PMI)-Services.
Friday: Employment Situation.
Source: Econoday, December 30, 2022
This Week: Companies Reporting Earnings
Thursday: Constellation Brands, Inc. (STZ), Walgreens Boots Alliance, Inc. (WBA), Conagra Brands (CAG).
Source: Zacks, December 30, 2022
"Science is the great antidote to the poison of enthusiasm and superstition."
– Adam Smith
What is the Premium Tax Credit?
The premium tax credit (PTC) is a refundable credit that helps eligible individuals and families cover the premiums for their health insurance purchased through the Health Insurance Marketplace. There are a few requirements to qualify for the PTC, including:
* 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.gov6
White Bean Chili Recipe
Break out that dutch oven because this white bean chili recipe is perfect for winter.
Tip adapted from Cooking Classy7
What word doesn’t belong in this group: blast, paper, castle, coin, box, storm?
Last week’s riddle: Name the three English-language three-letter words that begin and end with the letter E. Answer: eve, ewe, and eye.
Swiftcurrent Lake, Glacier National Park, Montana
Footnotes and Sources
2. The Wall Street Journal, December 30, 2022
3. The Wall Street Journal, December 30, 2022
4. State Street, December 28, 2022
5. Federal Reserve Bank of Atlanta, December 28, 2022
6. IRS.gov, July 7, 2022
7. Cooking Classy, March 4, 2019
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Weekly Market Insights: Erratic Holiday Trading Leaves Stocks in Doldrums
January 03, 2023