Greetings, Everyone,

This weekend granddaughter, Caitlin visited from Spokane with the news that she and her husband Mark will be moving to Juneau, Alaska. Mark is receiving a promotion with his company, and they are off on a new adventure.

Caitlin is a banker with Columbia Bank in Coeur d'Alene, Idaho. She shared that the banks are not getting quarters for their tellers. Covid has impacted pocket change shortages along with hand sanitizer and toilet paper. Pocket change is in such high demand that 7-Elevens offered a free Slurpee for people who traded in $5 worth of rolled coins for cash.

It takes money to make money. Did you know that a nickel costs 7.42 cents to produce, a dime 3.73 cents, a quarter 8.62 cents, and a penny 1.76 cents? I have wondered whether coins will be replaced in our monetary system since it is so expensive to mint them.

Do you have a stash of coins you’ve saved up over time? There may be some treasures hidden in that collection. A 2005 Kansas state quarter that read “In God We Rust” had a value of up to $100. A 2004 Wisconsin state quarter with an extra leaf was valued up to $1,500. The 1955 “double die” penny; Lincoln looks the same, but the “1955” and “liberty” appear to have shadows could have a value up to $1,800.

Review Your Health Coverage Annually
Open enrollment begins every year in mid-October; you can review your coverage, with the help of Medicare Plan Finder (medicare.gov/plan-compare). Remember plan options vary from state to state. The initial Medicare Enrollment Period allows you to sign up for Parts B and D when you turn age 65. The enrollment period begins three months before your birthday month and ends three months after your turn 65. It includes your birthday month.

Did You Know?
House swapping is on the rise. This is when someone stays in your house, and you stay in theirs. Do you want to spend your vacation in a romantic castle, a beach front cottage, or a town house in a vibrant city? There are more than 50 home-exchange networks to connect you with other homeowners who want to swap. The fees range from $60 to $150 but there are no rental fees.

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

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In the Markets

LAST WEEK

Stocks closed last week generally higher, despite a weak jobs report. A Congressional deal to extend the debt ceiling until early December helped drive stocks higher during the middle of the week. A poor showing last Friday was not enough to prevent the benchmark indexes from closing the week mostly in the black. The Dow enjoyed its biggest weekly gain since June. The S&P 500 advanced, while the Global Dow ended the week up over 1.3%. The Nasdaq eked out a gain, but the Russell 2000 dipped nearly 0.4%. Among the market sectors, energy jumped 5.0%, financials rose 2.3%, industrials climbed 1.8%, utilities increased 1.5%, and consumer staples advanced 1.4%. The yield on 10-year Treasuries gained 14 basis points to close the week at the highest level since June 4. Crude oil prices continued to rise, closing in on $80.00 per barrel. The dollar rose marginally, while gold prices declined.
Wall Street did not get off to a strong start last Monday. The Dow fell over 320 points and the Nasdaq lost more than 2.0%. A sell-off in shares of tech/growth stocks including a major social-media company, led equities lower last Monday. With Monday's downturn, the Nasdaq has declined about 7.0% since its September 7 peak as it inches closer to -10.0% correction territory. A jump in energy and utility shares wasn't enough to keep the S&P 500 from dipping 1.3%. The Russell 2000 lost 1.1% and the Global Dow slid 0.3%. Treasury yields and crude oil prices rose, while the dollar slipped.
Tech shares recovered from Monday's decline to help drive the market higher last Tuesday. The Nasdaq jumped 1.3% to lead the benchmark indexes. The S&P 500 gained 1.1%, the Dow climbed 0.9%, the Global Dow gained 0.8%, and the Russell 2000 added 0.5%. The yield on 10-year Treasuries rose to 1.52%. Crude oil prices gained nearly 2.0% to reach $79.14 per barrel. The dollar advanced nearly 0.25%. Financials, communication services, and information technology increased at least 1.5% to lead the market sectors.
Wall Street ended last Wednesday generally higher on news that Congress was making progress toward a debt ceiling resolution. The Nasdaq (0.5%), the S&P 500 (0.4%), and the Dow (0.3%) rose, while the Russell 2000 (-0.6%) and the Global Dow (-0.3%) fell. Ten-year Treasury yields dipped, but remained over 1.52%. The dollar advanced, while crude oil prices declined. Energy, materials, and health care were the only market sectors to fall. Consumer staples and real estate advanced 1.0%.
Stocks posted a third straight day of gains last Thursday following the deal to push back the expiration of the debt ceiling to December 3. A larger-than-expected decline in new claims for unemployment insurance also helped bolster investor confidence. Consumer discretionary, health care, and materials led the market sectors. Each of the major benchmark indexes gained ground, led by the Russell 2000 (1.6%), followed by the Nasdaq (1.1%), the Dow (1.0%), the Global Dow (0.9%), and the S&P 500 (0.8%). Treasury yields reached 1.57%. The dollar dipped, while crude oil prices climbed nearly 2.0% to $78.85 per barrel.
Equities fell on weak jobs data last Friday. The Russell 2000 (-0.8%) and the Nasdaq (-0.5%) headed the declines. Only the Global Dow ended the day in the black. Energy and financials were the only market sectors to end the day higher. Ten-year Treasury yields continued to climb, closing last Friday at 1.60%. The dollar fell for the second consecutive day, while crude oil prices rose for the second consecutive day.

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THIS WEEK

The latest reports on inflationary trends are available this week. Transitory or not, inflation has been rising for the past several months. The Consumer Price Index has risen 5.3%, the Producer Price Index is up 8.3%, import prices have increased 9.0%, and export prices have climbed 16.8%.

Source: Broadridge Investor Communication Solutions, Inc.

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Articles & Education

Capital Markets Update and Outlook: January 2023

Although the one-two punch of rising interest rates and inflationary pressure set the global capital markets on shaky footing through much of 2022, the U.S. economy kept motoring ahead. How are financial conditions shaping up in the new year?

- Read More -

Maximize Tax Benefits with a Qualified Charitable Distribution

The qualified charitable distribution has become popular with some IRA holders as a way of donating to charities while saving money on taxes.

- Read More -

Investment Term of the Week

Thought of the Week

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Investment products are: Not deposits. Not FDIC or NCUA Insured. Not guaranteed by the ﬁnancial institution. Subject to risk. May Lose Value.The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a proﬁt or loss regardless of strategy selected. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. The Dow Jones Industrial Average (DJIA), commonly known as “The Dow” is an index representing 30 stock of companies maintained and reviewed by the editors of the Wall Street Journal. The NASDAQ composite is an unmanaged index of securities traded on the NASDAQ system. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. Past performance does not guarantee future results. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Asset allocation and diversiﬁcation do not ensure a proﬁt or guarantee against loss.

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The Russell 2000 Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which represent approximately 8% of the total market capitalization of the Russell 3000 Index.
The Global Dow is an equal-weighted stock index. It is composed of the stocks of 150 top companies from around the world as selected by Dow Jones editors and based on the companies' long history of success and popularity among investors.

Sector investments are companies engaged in business related to a speciﬁc sector. They are subject to ﬁerce competition and their products and services may be subject to rapid obsolescence. There are additional risks associated with investing in an individual sector, including limited diversiﬁcation. The companies engaged in the communications and technology industries are subject to ﬁerce competition and their products and services may be subject to rapid obsolescence. Investing in the energy sector involves special risks, including the potential adverse effects of state and federal regulation and may not be suitable for all investors.

There is no guarantee that ESG (Environmental, Social, Governance) investment products or strategies will produce returns similar to traditional investments. ESG investment criteria exclude certain securities/products for non-financial reasons, and therefore investors may forego some market opportunities available to those who do not use such criteria.

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MWM Weekly Update

The Week of October 11, 2021