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
Archive for the ‘ Market News ’ Category
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
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
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
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
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
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
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
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
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
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