Pre-Holiday Optimism Lifts Markets

Stocks showed mixed results during the first half of the week due to geopolitical tensions that boosted precious metals and put pressure on Treasury yields.³

The Dow Industrials jumped out in front midweek and never looked back. Disappointing earnings on Tuesday from a large box retailer held back some gains in the broader S&P 500. A mixed Q3 update report from the nation’s leading AI chipmaking company also tempered gains a bit.⁴

Year-end optimism, especially around consumers driving a healthy holiday shopping season, supported the rally for much of the week. Fresh data that weekly jobless claims dropped to a seven-month low also lifted spirits.^5,6

For several weeks, investors have favored small-cap names over larger-cap issues. This trend was again on display last week.

The Russell 2000, an index of 2,000 small-cap companies widely used as a benchmark for U.S. small-cap stocks, rose 4.50 percent for the five days of trading. In the month-to-date through November 22, the Russell is up nearly 9 percent.⁷

Tuesday: Consumer Confidence. New Home Sales. FOMC Minutes.

Wednesday: Gross Domestic Product (GDP). Durable Goods. Pending Home Sales. Personal Income and Outlays.

Thursday: Markets Closed—Thanksgiving Holiday.

^{Source: Investors Business Daily – Econoday economic calendar; November 21, 2024
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.}

Monday: Agilent Technologies, Inc. (A)

Tuesday: Analog Devices, Inc. (ADI), Dell Technologies Inc. (DELL), CrowdStrike (CRWD)

^{Source: Zacks, November 21, 2024.
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.}

Did You Know That You Have the Right to Challenge the IRS?

As a taxpayer, you can challenge the IRS’ position; this is part of the Taxpayer Bill of Rights, which outlines your fundamental rights when working with the IRS. 

With this right, you can:

• Raise objections to an IRS decision
• Provide additional documentation in response to proposed or formal IRS actions
• Expect the IRS to deliver a timely objection
• Have the IRS consider any supporting documentation promptly and fairly
• Receive a response from the IRS if they disagree with your position

In some circumstances, you may have a hearing before an independent Office of Appeals.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS⁸

Zero-Waste Grocery Shopping Tips

There are many ways to have an eco-friendly shopping trip at the grocery store. Here are a few tips to reduce plastic usage and aim for a zero-waste trip to the store:

• When possible, buy your dry goods from the bulk bin; this saves on plastic packaging compared to the ready-made items in the aisles. 
• You can bring your bags, bulk containers, jars, or bulk bags from home. 
• If you can’t shop in bulk bins, look for dry goods or produce in aluminum cans, which are easier to recycle. 
• Paper or glass are both better for the environment than plastic. Choose eggs and milk in cardboard containers. 
• If you have to buy a plastic container of something, buy the biggest size available. It will last longer and use less packaging.

Tip adapted from Green Matters⁹

Clown Anemonefish 

Maldives, South Asia

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Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.

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.

The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.

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International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.

Please consult your financial professional for additional information.

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