After a disastrous first quarter, the stock market rallied and had its best quarter in more than 20 years. The S&P 500 gained around 20% for the quarter, while the Dow Jones Industrial Average gained over 18%. For the year, technology stocks, led by companies such as Apple, Microsoft, and Amazon, have greatly outperformed other sectors. Much of the quarter’s… Read More
Archive for the ‘ Market News ’ Category
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Updated Paycheck Protection Program Information
When the Paycheck Protection Program was launched, many business owners felt both relieved and confused. While the opportunity to receive up to $10 million in forgivable loan funds has been a saving grace for many businesses, borrowers were left with many questions on forgiveness and the rules surrounding the use of these funds. The SBA and Treasury has been releasing… Read More
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Market Recap – 1st Quarter 2020
The world dramatically changed this quarter. After an incredible year for the stock market, strong economic growth, and record low unemployment, the coronavirus struck. While social distancing measures and stay-at-home orders save lives, they damage economies. Businesses, especially those in leisure, hospitality, retail, and transportation, have come to an abrupt stop. Initial claims for unemployment spiked to over 3.2 million… Read More
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What You Need to Know About the CARES Act
The two parties have come together to pass historic bipartisan legislation – the Coronavirus Aid, Relief and Economic Security (CARES) Act. This stimulus bill, signed into law on Friday, March 27th, will inject the economy with two trillion dollars and provide relief to individuals and businesses that have been impacted by the coronavirus pandemic. Here are some of the key… Read More
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Relief for Businesses During Coronavirus Outbreak
Many businesses are feeling the effects of coronavirus. Some non-essential businesses such as restaurants, gyms, and libraries have been forced to close by state and local governments. Other companies, while still open, are seeing cash flow issues. There are options for small businesses to see some relief. Small Business Administration’s Economic Injury Disaster Loan program Through this program, small business… Read More
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How The SECURE Act Can Impact Your IRA
The Setting Every Community Up for Retirement Enhancement (SECURE) Act that took effect this year, was designed to aid Americans in saving for retirement. Here are the biggest changes that can impact your IRA. Increased Required Minimum Distribution Age One of the biggest changes brought on by the SECURE Act is an increase in the Required Minimum Distribution (RMD) age… Read More
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Tax Deadline Extension – Pay and File by July 15th
Coronavirus has been putting a strain not just on the health of Americans, but also our wallets. Because of this, the federal government is extending the tax deadline by 90 days, meaning everyone has until July 15th to pay their taxes. Does this mean you can put off filing your taxes until July 15th? Yes, on March 20th, Secretary Steven… Read More
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Is The Coronavirus Different?
The coronavirus has officially been named a pandemic by the CDC as it has spread from China to the rest of the world, including the US. At Prosperity, we are actively watching the market reaction and our clients’ portfolios. We will continue to monitor the outbreak and communicate with you as events unfold. Is the Coronavirus Different? Many clients ask… Read More
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Will the Markets Recover After Coronavirus?
Markets have reacted to the Coronavirus concerns and headlines and your investment account may see some volatility. While this may feel worrisome to you, remember that we’re here and we’re keeping a vigilant watch of current events as they unfold. Will The Markets Recover? Historically, markets have recovered well after epidemics. While Coronavirus may cause concern to your health and… Read More
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Impact of Coronavirus on Your Investment
The Coronavirus has spread from China to numerous countries around the world, including the United States. Markets have been reacting as the Dow Jones and the S&P 500 have both dropped more than 13%. Stay Calm You can take a deep breath and know you have a plan that factors in market volatility. Historically, markets have recovered very well in… Read More
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There’s still time to fund your IRA for 2019!
Your IRA is a great investment tool for your retirement. For 2019, you can contribute up to $6,000 into your IRA ($7,000 if you’re age 50 or older)*. If you haven’t filed your tax return yet, you can still make 2019 IRA contributions until April 15th, 2020. Why should you maximize contributions? Maximizing your contribution allows for the greatest growth of your investment. The… Read More
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Market Recap: 4th Quarter 2019
The last quarter delivered a strong finish to a great year for the stock market. Throughout the year, the market moved on news of the trade dispute with China. Ultimately, progress was made with China and the markets rallied. Stock buybacks also helped the stock market. Many companies used larger profits from the lower tax rate to buy back… Read More
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Market Recap: 3rd Quarter 2019
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
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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
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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