Despite a shaky week, stocks managed to end on a high note with a rally on Friday. The Dow Jones Industrial Average experienced a slight dip of 0.30% for the week, while the Standard & Poor’s 500 saw a gain of 0.48% and the Nasdaq Composite index added 1.60% over the five trading days. However, the MSCI EAFE index, which tracks the performance of developed overseas stock markets, fell by 2.37%.
On Friday, the stock market experienced a surge after an employment report showed better results than anticipated by Wall Street. Initially, the increase in September payrolls caused concerns about possible Fed rate hikes, resulting in a rise in bond yields and significant early morning losses. However, a decrease in yields may have led to the change in the market's direction as investors focused on the month's moderate wage growth.
All About Jobs
The job market has shown great resilience. According to August JOLTS, job openings were over 9.6 million, surpassing the expected 8.8 million. A recent report on weak Automated Data Processing (ADP) private payroll job growth, which was released on Wednesday, showed only 89,000 new private sector jobs. This figure appears to be an outlier when compared to other reports.
This Week: Key Economic Data
Wednesday: Producer Price Index (PPI). Federal Open Market Committee (FOMC) Minutes.
Thursday: Consumer Price Index (CPI). Jobless Claims.
Friday: Consumer Sentiment.
Source: Econoday, October 6, 2023
This Week: Companies Reporting Earnings
Thursday: Delta Air Lines, Inc. (DAL)
Friday: JPMorgan Chase & Co. (JPM), UnitedHealth Group, Inc. (UNH), Citigroup, Inc. (C), Wells Fargo & Co. (WFC), The PNC Financial Services Group, Inc. (PNC), BlackRock, Inc. (BLK)
Source: Zacks, October 6, 2023
Food For Thought
"To conceal anything from those to whom I am attached, is not in my nature. I can never close my lips where I have opened my heart."
When Was the Last Time You Checked Your Withholding Status?
Managing your taxes can be a hassle, but the Internal Revenue Service (IRS) offers a helpful tool called the Tax Withholding Estimator to assist you in managing the amount of tax that is withheld from your wages. It will help you determine if you have too much or too little tax withheld from your paycheck. The tool can also help you figure out if you need to complete a new W-4 form to submit to your employer, complete a new W-4P, or make additional payments to the IRS. It does this by estimating your annual income, the number of children you claim for the Child Tax Credit and Earned Income Tax Credit, and other factors that may affect your yearly taxes.
Tip adapted from IRS.gov8
Healthy Living Tip
Strength Training Strategies for Every Level
If you want to build muscle mass, sometimes the simplest strategies work best. For instance, mastering the "big four" exercises - squat, deadlift, bench, and shoulder press - can provide you with a strong foundation. You can work on several major muscle groups with easy movements.
Tip adapted from Outlift9
Other Things To Know
Taking care of your body weight is essential for your overall well-being, and there are various ways to manage it. One of the most important methods is to ensure that you get enough sleep. However, there are several factors that can cause overweight and obesity, such as age, genetics, diseases, medications, and the environment.
As you grow older, your body composition changes, causing the proportion of muscle to decrease and the proportion of fat to increase. This change slows down your metabolism, which can lead to weight gain. In addition, aging often results in less physical activity, which further increases the risk of weight gain.
Although genetics can cause obesity in certain disorders such as Bardet-Biedl syndrome and Prader-Willi syndrome, it's important to note that they don't always predict future health. In some cases, multiple genes may increase the susceptibility to obesity, but it doesn't occur without excess food or too little physical activity.
Certain illnesses like Cushing's disease and polycystic ovary syndrome may lead to obesity or weight gain. Similarly, some medications, such as steroids and antidepressants, can also cause weight gain. If you are struggling with weight gain, it's best to consult a doctor to determine whether an illness or medication is contributing to it or making weight loss difficult.
Environmental factors also play a significant role in weight management. A lack of sidewalks or bike lanes may prevent people from being physically active. Communities, homes, and workplaces can all influence people's health decisions. Therefore, it's crucial to create environments that encourage physical activity.
If you're looking to begin your weight loss journey, the CDC website offers a wealth of information and tips at CDC.gov.
It is round and has a big mouth but never speaks. It is most often in a cabinet. What is it?
Last week’s riddle: What goes in the blank below: Bob is Ken’s son. Therefore, Ken is the ______of Bob’s father. Answer: Name.
Photo Of The Week
Yellow tram moving past yellow building in Lisbon, Portugal
Footnotes and Sources
2. The Wall Street Journal, October 6, 2023
3. The Wall Street Journal, October 6, 2023
4. CNBC, October 3, 2023
5. CNBC, October 3, 2023
6. CNBC, October 4, 2023
7. CNBC, October 6, 2023
8. IRS.gov, April 13, 2023
9. Outlift.com, July 28, 2023
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Weekly Market Insights: Despite A Shaky Week, Stock End On A High Note
October 11, 2023