- Javier Hernandez, Marketing Associate
Click on the image below for Capital Group’s “Guide to Market Recoveries”:
Navigating Golden Handcuffs
While housing shortages may offer some protection against price declines, homeowners face a unique challenge with "golden handcuffs." Attractive mortgage rates are discouraging borrowers from refinancing or moving homes, with less than 2% of conventional borrowers paying above the current market rate on a 30-year fixed-rate mortgage. To learn more, check out the most recent Market Monitor.
Stocks Swing with Earnings Season Performance
Stocks moved to the rhythm of earnings season last week, initially rising on positive earnings surprises and faltering later in the week on key earnings disappointments.
The Dow Jones Industrial Average rose 2.08%, while the Standard & Poor’s 500 added 0.69%. The Nasdaq Composite Index slumped 0.57% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slipped 0.32%.1,2,3
Earnings Season Rally Sparks Investor Enthusiasm
The second quarter earnings season kicked off with a bang as solid reports from major banks fueled optimism and ignited a mid-week rally. Investors were further delighted by a mega-cap tech company's announcement of a new AI subscription plan and the stabilization of deposits at several regional banks.
Mixed Fortunes: Disappointing earnings from two big-tech players weighed down the market on Thursday, particularly impacting the Nasdaq composite. Nevertheless, the S&P 500 saw 20 stocks touch 52-week highs, with 11 reaching all-time highs.
An End to the Week: Stocks closed flat to wrap up an eventful yet mixed week. Stay tuned as we keep you updated on the latest market movements and trends.
"Freedom is not worth having if it does not connote freedom to err."
– Mahatma Gandhi
Tax Tips for Side Gigs
There are some important tips to remember if you work a side gig:
*This information is not intended to substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov7
Summer Skincare Tips
The first and most important tip is always to wear sunscreen, even if you spend little time in the sun. Some skincare products, including makeup, have sunscreen built-in, but you should consider using a moisturizer with at least SPF 30 for extra protection.
Another good summer skincare tip is to lighten up your skincare routine. You'll likely be sweating, swimming, and spending time outside in the summer, so you might not need as much makeup or products as in the winter.
Sometimes you pass me slowly, yet other times I fly by. Sometimes I slip away. Regardless of how slow or fast I am, one thing’s certain: when I’m gone, I’m gone for good. So what am I?
Last week’s riddle: What is the longest word in English to have only one vowel repeated? (Hint: It has 18 total letters, and the vowel repeats four times.) Answer: Strengthlessnesses.
Footnotes and Sources
2. The Wall Street Journal, July 21, 2023.
3. The Wall Street Journal, July 21, 2023.
4. CNBC, July 20, 2023.
5. Yahoo!Finance, July 19, 2023.
6. The Wall Street Journal, July 20, 2023.
7. IRS.gov, January 12, 2023.
8. Allure, April 24, 2023.
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The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.
The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.
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