|
Weekly Economic Update
March 5, 2018
|
The Markets (as of market close March 2, 2018)
Trade wars: That was the ominous phrase that spooked many investors toward week’s end, as the federal government announced plans to implement a tariff of 25% on steel imports and 10% on aluminum imports. While no one can say for certain whether such tariffs will actually materialize, these pronouncements were enough to send stocks tumbling on Thursday and Friday morning, only to recover somewhat by the market’s close Friday afternoon. There were weekly losses on all the major indexes, led by the Dow, which closed the week down more than 3%. Year to date, only the Nasdaq and S&P 500 remain in positive territory. Crude oil lost ground last week and the price of gold fell as well.
Last Week’s Economic Headlines
- The net value of goods and services produced in the United States, as measured by the gross domestic product, increased in the 3rdand 4th quarters of 2017. The personal consumption expenditures price index (which measures the increase in prices paid for personal consumption) increased as well. Consumer spending increased in the 4th quarter.
- Personal (pre-tax) earnings rose slightly according to the latest report from the Bureau of Economic Analysis. Instead of spending, consumers apparently added their newfound income to savings, which jumped up in January.
- Manufacturing output expanded in February, but at a slightly slower pace than January, according to the IHS Markit final U.S. Manufacturing Purchasing Managers’ Index™ (PMI™). The advance in production was attributable to greater client demand. New business expanded at a faster pace, while input prices increased at the fastest pace since December 2012.
- The Institute for Supply Management’s Report On Business® reported similar results as Markit’s submission, however, ISM® respondents reported a slight decrease in new orders and production. Employment increased substantially, as did prices.
- New home sales fell in January and below their pace from a year ago. The median sales price of new homes sold in January was $323,000, with average sales price being $382,700. The seasonally adjusted estimate of new houses for sale at the end of January was 301,000. This represents a supply of 6 months at the current sales rate. While new home sales were soft in January, inventory increased and the average sales price fell- factors which should help spur sales in February.
- Orders for long-lasting products (durable goods) slipped in January, according to the latest report from the Census Bureau. Unfilled orders, down following four consecutive monthly increases, decreased. On the plus side of the report, both shipments and inventories increased in January over December.
- The advance report on international trade in goods saw the deficit increase in January over December.
- The Conference Board Consumer Confidence Index® increased in February, following a modest increase in January–the highest level since November 2000. According to the report, “despite the recent stock market volatility, consumers expressed greater optimism about short-term prospects for business and labor market conditions, as well as their financial prospects.”
Eye on the Week Ahead
The important monthly employment report for February is out this week. BWFA will pay close attention to wage appreciation as another sign of building inflationary pressure-a key harbinger for upcoming market movement both short and long term. Also, the international trade report for January is out. It is expected to reveal an expanding goods and services trade deficit.
|
|
|
New Tax Law
Strategies
Do you have questions regarding the new tax laws?
Tuesday, March 6, 2018
11:45 AM – 1:00 PM
Lunch to be provided
|
Presented by:
Lex Ruygrok, CPA
Tax Consultant
Managing Director,
Wealth Management
ONLY A FEW SEATS REMAIN!!!
SIGN UP TODAY!!
|
Baltimore-Washington Financial Advisors invites you to a discussion on how the new tax law will impact your investments and estate plan.
The complexity of the new tax law affects wealth planning, home ownership and investment portfolios in ways that are different for everyone.
Learn how these changes will affect you and your investments and how BWFA is able to assist you along the way.
Topics to include:
- Three tax strategies that will save you money
- Specific tax code provisions that you need to know
- How to lower your tax bill
- How to avoid costly penalties
Please join us as we discuss these topics and more.
|
|
|
|
Estate Planning:
How to Avoid Probate Court
Guest Speaker:
Gary Greenwald Esq.
Tuesday, March 6, 2018
6:00 PM – 7:30 PM
Dinner to be provided
|
Managing Director,
Wealth Management
ONLY A FEW SEATS REMAIN!!!
SIGN UP TODAY!!
|
Baltimore-Washington Financial Advisors and Gary Greenwald, Esq. invite you to this interactive workshop on, how to avoid probate court.
At this workshop, you will learn to:
- Reduce the cost of settling your affairs upon your death by 60-70%
- Keep all of your personal affairs private if you become disabled and when you pass
- Avoid the time and expense of probate upon your death
- Be confident that you, and not some court, will be in charge of your assets upon disability or death
Please join us as we discuss these topics and more.
|
|
|
|
Assisted Living
Guest Speaker: Steve Elville
Tuesday, March 13, 2018
11:45 AM – 1:00 PM
Lunch to be provided
|
Presented by:
Steve Elville, Esq.
Principal
Elville and Associates
Managing Director,
Wealth Management
Reserve your spot!
|
Baltimore-Washington Financial Advisors invites you to an interactive workshop on “Selecting an Assisted Living Facility/Community.”
Topics to include:
- Broad overview of assisted living options
- Challenges associated with downsizing
- Cost, amenities, financial stability and quality of care
- Reputation, resident’s rights, estate planning considerations
- Long-term care skilled nursing concerns
- Estate planning considerations
|
|
|
|
Roth vs. Traditional IRA
Tuesday, March 20, 2018
11:45 AM – 1:00 PM
Lunch to be provide
Roth IRAs and 401(k)s can be extremely beneficial for retirement investors. This BWFA workshop will show you how to take advantage of both of them.
|
Managing Director,
Wealth Management
|
Baltimore-Washington Financial Advisors invite you to a discussion on:
- Positioning your assets before you retire
- Reducing your taxes during retirement
- Extending the life of your financial assets
- Creating tax planning flexibility during retirement
Please join us as we discuss these topics and more.
|
|
|
|
When a Loved One Passes
Guest Speaker:
Gary Greenwald Esq.
Tuesday, March, 27 2018
11:45 AM – 1:00 PM
Lunch to be provided
|
Managing Director,
Wealth Management
Register today!!!
Limited Seating Available!
|
Baltimore-Washington Financial Advisors and Gary Greenwald, Esq. invite you to this interactive workshop on, “What to do when a loved one passes away.”
At this workshop, you will learn to:
- What are the first things we should do?
- What happens if he/she has done no estate planning?
- What do you do with his/her trust or will?
- Whould I continue to pay his/her bills?
- What should you do with his/her home?
- What is involved in settling a will or trust?
- Can a will or trust be contested?
Please join us as we discuss these topics and more.
|
|
|
|
Estate Planning:
Planning for Your Loved One with Special Needs
Guest Speaker: Steve Elville
Tuesday, April 10, 2018
11:30 AM – 1:00 PM
Lunch to be provided
|
Presented by:
Steve Elville, Esq.
Principal
Elville and Associates
Managing Director,
Wealth Management
Reserve your spot!
|
Baltimore-Washington Financial Advisors and Elville and Associates invite you to a discussion about planning for your loved one with special needs. Attendees will come to understand what is involved in the planning process for a special needs family and the importance of preserving the loved one’s financial security and quality of life.
Topics to include:
- Understand what is involved in the planning process for a special needs family and the and the importance of preserving the loved one’s financial security and quality of life
- Key issues involved in special needs planning to be discussed – the role of public benefits, the ABLE Act, and using estate planning and trusts to protect assets (along with a discussion about the types of special needs trusts to consider)
- The importance of the “planning team concept” – how your planning team (financial advisor, attorney, CPA) can work together with you to provide your family peace of mind during the planning process
|
|
|
|
Estate Planning:
Protecting Your Assets Upon Your Death
Guest Speaker:
Gary Greenwald Esq.
Thursday, April 12, 2018
11:45 AM – 1:00 PM
Lunch to be provided
|
Managing Director,
Wealth Management
Register today!!!
Limited Seating Available!
|
Baltimore-Washington Financial Advisors and Gary Greenwald, Esq. invite you to this interactive workshop on, “How to protect your bloodline.”
At this workshop, you will learn to:
- If you die first, how you can make sure that the assets you leave your spouse are beyond the reach of his or her creditors?
- If you die first and your surviving spouse remarries, how can you make sure that the assets you leave your spouse do not end up in the hands of his or her next spouse?
- After you and your spouse die, how can you make sure that your assets do not get distributed to your no good son in law or daughter in law (a crowd favorite)!
- How can you make sure thatthe assets you leave your children are managed in such a away that there is something left for your grandchildren?
Please join us as we discuss these topics and more.
|
|
| Click Here to Read Our Current Magazine
|
|
|
|
