MWM Weekly Update

The Week of August 9, 2021

MWM Weekly Update

The Week of August 9, 2021

Greetings Everyone,

We supported the 17th Annual Maurice Lucas Celebrity Golf Invitational on Thursday, July 29th. The event was held at the Reserve Vineyards and Golf Club in Aloha and had 300 participants. Jennifer Currin Gutridge, Linette Dobbins and Sarah Berry shared the day in 100-degree weather to handout some fun logo items and a fresh drink of water. As you can see, they had a really good time. Jesse Jimerson joined a foursome and played the course with Jennifer’s husband, Shane. It was “best ball” competition and although his team didn’t come in at the top, they had a great time. Jesse said on the third tee box Ezell’s was serving fried chicken sandwiches.

The Maurice Lucas Foundation teaches kids lessons they can use to help them realize their dreams. Our academies show the importance of hard work, respect and leadership both in the classroom and on the court.

The number 20 hangs in the rafters of The Rose Garden, home to the NBA's Portland Trail Blazers, honoring a great man. Maurice Lucas had a storied 14-year career in professional basketball, but off the court is where Maurice built his legacy. Maurice was truly a pillar in the Portland, Oregon community he called home. He touched the lives of many through his giving ways. Maurice passed away on October 31, 2010 at the age of 58. Today, the Maurice Lucas Foundation carries on his legacy by working with youth to help them realize their individual potential.*
*Source: https://ml20.org/

Judith McGee explains what "the goofy conversation" is and how to make it a part of your financial planning.

Did You Know?
That if you lay an 8 on its side, it is the symbol for infinity?

Please stay safe and cool during this unusually hot August weather.

Judith McGee, L.H.D., CFP®, ChFC®
Executive Vice President and Senior Lead Advisor

In the Markets

LAST WEEK
  • Stocks closed last week generally higher on the heels of a solid jobs report, which may have quelled worries that economic growth was slowing. Nevertheless, equity returns were volatile for much of the week, reflecting ongoing uncertainty as variant strains of the virus spread and concerns rose over the possibility that the Federal Reserve may begin reeling in its asset-purchasing program sooner than expected. Financials led the market sectors, advancing 3.6% for the week, followed by utilities, which rose 2.3%. Most of the remaining sectors increased less than 1.0%, while consumer staples dipped 0.6%. The major benchmark indexes generally posted weekly gains, other than the Russell 2000, which fell 1.2%. Crude oil prices closed the week at $68.50 per barrel, down more than 7.0% from the prior week's closing price. Gold slipped, the dollar rose, and the yield on 10-year Treasuries climbed higher.
  • Wall Street erased earlier gains to close lower last Monday. Increasing demand sent the yield on 10-year Treasuries down as low as 1.15%, possibly raising investor concerns about the pace of economic growth. The Nasdaq inched 0.1% higher and the Global Dow rose 0.4%. The Russell 2000 (-0.5%), the Dow (-0.3%), and the S&P 500 (-0.2%) lost value. Materials, industrials, and energy fell, while utilities, health care, and consumer discretionary were market sectors that rose. Crude oil prices and the dollar dipped lower.
  • Stocks rebounded last Tuesday as strong corporate earnings data offset concerns about the Delta virus variant and China's deepening regulatory scrutiny of mega tech companies. Ten of the 11 market sectors traded higher, pushing the S&P 500 to a record closing high. The Dow, the Nasdaq, the Global Dow, and the Russell 2000 also posted solid gains. Treasury yields and the dollar inched higher, while crude oil prices dipped lower but remained over $70.00 per barrel.
  • Energy shares fell nearly 3.0% last Wednesday and stocks retreated from the previous day's strong showing. Among the benchmark indexes, only the Nasdaq eked out a 0.1% gain. The Russell 2000 fell 1.2%, the Dow lost 0.9%, while the Global Dow and the S&P 500 dropped 0.5%. Treasury yields and the dollar climbed higher, while crude oil prices dipped below $70.00 per barrel, closing at roughly $68.47 per barrel — the lowest price since mid-July.
  • Despite hawkish comments from a few members of the Federal Reserve who suggested policy accommodations may be pulled back sooner than expected, the S&P 500 and the Nasdaq closed last Thursday at record highs, and the stock market ended the day with solid returns. The Russell 2000 led the way, gaining 1.8%, while the Dow and the Nasdaq advanced 0.8%. The S&P 500 and the Global Dow climbed 0.6%. The yield on 10-year Treasuries climbed back over 1.21%, crude oil prices continued to fall, and the dollar was generally unchanged. Among the market sectors, energy, financials, and utilities rose more than 1.0%, followed by communication services and consumer discretionary, which increased 0.9%.
  • Stocks closed last Friday mixed, with the large caps of the Dow (0.4%) and the S&P 500 (0.2%) reaching record highs, while the Nasdaq (-0.4%) and the Russell 2000 (-1.0%) lost value. The Global Dow inched ahead 0.2%. Yields on 10-year Treasuries gained 6.0%, the dollar climbed 0.6%, while crude oil prices dipped 3.0%. Financials, materials, and energy sectors pushed higher, while consumer discretionary and real estate edged lower.
THIS WEEK

Inflationary pressures have been rising. Since June 2020, the Consumer Price Index has climbed 5.4% and the Producer Price Index has increased 7.3%. The data for July is available this week for both the CPI and the PPI. Those who study this data expect both indexes to increase by roughly 0.5% in July.

Source: Broadridge Investor Communication Solutions, Inc.

Articles & Education

Annuities: Good, Bad, or Misunderstood?

Annuities can play an important role in your financial portfolio. You should review them in the context of your overall plan just as you would other financial solutions. Learn about common myths and misconceptions, and how you can determine if annuities have a place in your wealth plan.

Medicare Deadlines Are Soon – What You Should Know

If you’re nearing age 65, you’ll need to have a plan for Medicare – even if you’re still working. Here are some basic facts about Medicare and why it’s critical that you don’t miss enrollment deadlines. There are many options available and choices you need to make regarding your care coverage, so it’s important to do research upfront before deciding and enrolling in Medicare.
Investment Term of the Week

Thought of the Week

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