Results for the 3rd quarter were mixed. The quarter got off to a good start as the U.S. and China agreed to continue trade negotiations and the U.S. postponed further tariff increases. This news, along with the Federal Reserve signaling an interest-rate cut, helped markets rally to new highs. However, in August, trade issues heated up again with both countries… Read More
Archive for the ‘ Market News ’ Category
Market Recap: 2nd Quarter 2019
Stock gains continued in April, with the economy growing faster than expected at an annual growth rate of 3.2% for the first quarter. However, markets stumbled in May triggered again by U.S. and China trade issues, as the U.S. increased tariffs on nearly half of Chinese imports from 10% to 25%, after which China retaliated by increasing tariffs on $60… Read More
Fourth Quarter 2018 Market Recap
After experiencing record low volatility in 2017, huge market swings dominated this year. According to the S&P Dow Jones Indices, there have been over 100 days this year where the daily spread between the high and low has exceeded 1%. The year started with a large drop in February but recovered and looked in decent position by the end of… Read More
3rd Quarter 2018 Market Recap
The U.S. stock market reached another milestone this quarter, as the current bull market became the longest equity bull market in U.S. history. Since the start of the bull market in March 2009, the S&P 500 has more than quadrupled. Many of the market gains this year have been due to strong gains by technology companies, such as Apple and… Read More
Relief from Student Loan Debt for Maryland Residents
If you live in Maryland and owe student loan debt, Maryland’s Higher Education Commission may provide relief. However, you must act quickly as the deadline to apply is September 15th. The Student Loan Debt Relief Tax Credit went into effect on July 1st 2017. If approved, you may receive up to a $5,000 tax credit. To receive the tax credit, you… Read More
Second Quarter 2018 Market Recap
Volatility continued in global stock markets during the second quarter. Despite solid first-quarter earnings reports, stocks gained little traction as geopolitical and trade concerns hampered the markets. In the U.S., growth stocks continued their strong outperformance over value stocks. The market gains this year have been heavily dependent on technology stocks. For the quarter, energy was the best performer (up… Read More
What to Do During Market Volatility
While market volatility may seem frightening, it is an anticipated and natural part of market cycles. Timing of when market volatility will happen is very challenging. Currently, markets are adjusting after extraordinary growth in 2017 and into 2018 as a result of tax reform. There is also the anticipation of inflation, which is long over-due, along with rising interest rates… Read More
Market Recap: 1st Quarter 2018
Volatility in the U.S. stock market has returned. After record-low levels of volatility last year, the first quarter saw daily movements in the S&P 500 of greater than 2% on six different occasions. Inflation, trade, and technology have dominated the headlines. Markets soared in January, only to drop 10% in February due to increased inflation fears. They recovered again before… Read More
8 Easy Steps To Take After The Equifax Data Breach To Protect Your Credit
As you probably have heard, approximately 143 Million U.S. customers may be impacted after Equifax Inc. was struck with a cyber-attack. What exactly is Equifax? Equifax is one of the oldest and largest credit reporting agencies in the United States which gathers and keeps a running history of your credit picture from loans and credit cards to creditors, bankruptcies, tax… Read More
Will The New DOL Rule Impact You?
On June 9th, a major change occurred in the financial services industry. After years of debate and a last-minute delay by the Trump Administration, the Department of Labor’s Fiduciary Rule went into effect. If you are like most people, you are probably wondering what this means to you. When people seek advice from their doctor or their attorney, they expect… Read More
What You Need To Know About Britain’s EU Referendum
On June 23rd, the United Kingdom’s vote to leave the European Union shocked global markets. While the long-term implications of the referendum remain unclear, The Prosperity Consulting Group is closely monitoring the aftershocks of the UK’s decision. What you need to know: This is the first time a member country has chosen to leave the European Union Expected changes… Read More
January 2016 Market Update
We have started off the New Year with recent geopolitical and global growth concerns that have had a negative impact on the market – China’s pace of growth and currency movements, Middle East tensions between Iran and Saudi Arabia, North Korea’s possible nuclear tests, and lower energy prices were the major headlines. With the heightened geopolitical risk and global growth… Read More