MWM Weekly Update

The Week of September 20, 2021

MWM Weekly Update

The Week of September 20, 2021

"A cowboy is not a cowboy without rodeo.
Rodeo is not a rodeo without a cowboy."
– William James

Greetings, Everyone,
This last week was one of activity for our Eastern Oregon friends as they once again celebrated in Pendleton at the Round-Up.  A big shout-out to any of you who had the honor of attending this year since last year was one of the rare cancelations due to Covid in its 112-year history.

Pendleton Round Up - Let ‘Er Buck

Jennifer Currin Gutridge joined friends and family members at the Pendleton Round-Up last week. For Jennifer’s family Roundup is a tradition going back to the first rodeo in 1910. Jennifer was the Pendleton Round-up Queen in 1991 pictured below with her court.

Every Round-Up week begins with the Dress Up Parade, on the Saturday before the rodeo, in which many groups throughout Eastern Oregon participate. Many build floats and compete for first place. One of the favorite events on Friday of Round-Up week is the Westward Ho! Parade. No motorized vehicles allowed; ride a horse, walk or be in a covered wagon. On Monday and Tuesday, the Professional Bull Riders (PBR) compete. Wednesday, the Round-Up and Happy Canyon begin in full swing.

If you’re a rodeo fan and have never been to the Pendleton Round-Up, put it on your bucket list.  It’s always a good idea to plan early as tickets are very popular.  See you there in 2022?

Hard Rocks Summit – 2021 Denver, Colorado
I’ve been a member of the Board of Directors of The Rice Northwest Museum of Rocks and Minerals in Hillsboro for some time. It is with pride that I share for the first time ever that the museum’s beautiful Alma Rose Rhodochrosite was displayed with the two other world class specimens of rhodochrosite mined from the Sweet Home Mine in Alma, Colorado, the “Alma King” and the “Alma Queen” at the Hard Rocks Summit show in Denver last week. The Alma Rose boast five large rhodochrosite crystals, speckled with yellowish calcite deposits. They have a deep pink, almost cherry-reddish coloring and are shaped like tilted rectangles. The Alma King is football sized ruby red beautifully pointed crystal, set on a bed of snowy white quartz. Some say it looks like a gigantic piece of candy.  Executive Director, Aurore Giguet was invited as a guest panelist and will be returning to the Rice Museum with some additional displays.The Rice Museum is a Smithsonian Affiliate. To learn more visit www.ricenorthwestmuseum.org.

THE BOO TRAIN - Only In Oregon
Did you know there is a Boo Train Ride in Oregon that is scenic and great fun for the whole family?  Check out the Flower Farmer in Canby known for its annual fall festival. Fall festival activities include a pumpkin patch, giant hay pyramid maze, lots of farm animals, homemade fall treats, and a pumpkin train. The miniature railroad is known as the Phoenix & Holly, which takes guests on a mile-long excursion. More on the Flower Farmer’s website. Address: 2512 N Holly St., Canby, OR.

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

In the Markets

LAST WEEK
  • Stocks have generally retreated in September on concerns that the Delta variant is slowing the economy's rebound and that the markets, which had been surging, may be primed for a decline. The benchmark indexes generally lost ground for the second consecutive week, with only the Russell 2000 able to close the week in the black. Ten-year Treasury yields climbed 3 basis points last week, the dollar climbed higher, and crude oil prices increased $2.34 per barrel. Among the market sectors, only consumer discretionary (0.5%) and energy (3.3%) advanced. The remaining sectors lost value, led by materials (3.2%) and utilities (3.1%).
  • Wall Street opened last week mostly higher, with each of the major benchmark indexes advancing, except for the Nasdaq (-0.1%). The large caps of the Dow (0.8%) and the S&P 500 (0.2%) gained ground, as did the small caps of the Russell 2000 (0.6%) and the Global Dow (0.7%). The market sectors were mixed to higher, with energy gaining 2.9% and financials climbing 1.1%, while health care (-0.6%) and utilities (-0.2%) dipped. Crude oil prices eclipsed the $70.00-per-barrel price for the first time since early August. The dollar was little changed, and 10-year Treasury yields slid.
  • Last Tuesday was another rough day on Wall Street. Each of the major benchmark indexes fell, as the spread of a COVID-19 outbreak in a Chinese province raised trade concerns and worries that economic growth would be hindered. The Russell 2000 dropped 1.1%, followed by the Dow (-0.8%), the Global Dow (-0.6%), the S&P 500 (-0.6%), and the Nasdaq (-0.5%). Yields on 10-year Treasuries dipped to 1.27%, while crude oil prices and the dollar advanced. The market sectors hung back, with energy (-1.6%), financials (-1.4%), industrials (-1.2%), and materials (-1.2%) dipping the furthest.
  • Stocks closed higher last Wednesday as energy shares advanced notably. Aside from utilities, each of the market sectors rose, with energy climbing 3.8%, followed by industrials, materials, and financials. The Dow, the S&P 500, and the Nasdaq finished at least 0.7% in the black for the day. Ten-year Treasury yields and crude oil prices rose, while the dollar dipped.
  • Wall Street followed a positive Wednesday by retreating on Thursday. Among the indexes, only the Nasdaq inched higher, as the remaining benchmarks ended the day in the red. Treasury yields rose and the dollar strengthened. Crude oil prices slipped lower. The energy sector has been volatile in September. Following a notable gain last Wednesday, energy fell 1.1% on Thursday. Among the remaining market sectors, only real estate and consumer discretionary edged higher.
  • Equities closed the week generally lower last Friday. Only the Russell 2000 was able to eke out a 0.2% gain. The Nasdaq and the S&P 500 fell 0.9%. The Global Dow dropped 1.0%, and the Dow declined 0.5%. Treasury yields and the dollar advanced. Crude oil prices dropped. Several of the market sectors decreased, with materials (-2.01%), utilities (-1.6%), information technology (-1.5%), communication services (-1.3%), and industrials (-1.1%) tumbling the furthest.


THIS WEEK

August data for the housing sector is available this week. The pace of sales for both new and existing homes has slowed from its torrid pace earlier in the year. The big news this week focuses on the meeting of the Federal Open Market Committee. It is possible that the Committee will present a firmer timeline for scaling back its current bond purchasing program.

Articles & Education

Q3 Market Commentary

The Three Dimensions of Risk: Tolerance, Capacity, & Need

More wealth has been lost due to human emotions and the lack of sound, disciplined financial planning than to any bear market. The good news is that risk is quite manageable with the help of a trusted advisor and an understanding of three dimensions of risk: our own personal tolerance, capacity, and need.
Investment Term of the Week

Thought of the Week

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