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The Markets

Following steep declines in January and a rocky start to February, equities rebounded by the end of the month to finish close to their ending values from the prior month.  The Dow actually finished up, gaining a little over 50 points by February's market close.  Each of the indexes listed here remained in negative territory for 2016, with the Russell 2000 and Nasdaq each down almost 9.0%.  Investors may be feeling a little more confident in the U.S. economy despite global economic instability, as several domestic economic indicators have been favorable, including manufacturing, inflation, consumer spending, and the GDP.

Bond yields fell by the close of trading for February as prices rose with the influx of investor dollars, while the 10-year Treasury yield dropping almost 20 points by the end of the month.  The price of gold (COMEX) increased by month's end, selling at $1239.30 -- about $121 higher than January's end-of-month price of $1,118.40.

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Market Month February 2016

The Markets (as of market close January 29, 2016)

The start of 2016 for the equities markets may be described as rocky at best.  Stunted by receding oil prices and a plummeting Chinese stock market, January began with stocks hitting the skids in a big way.  A late-month rally fueled by an about-face in oil prices, some favorable earnings reports, the prospect of further stimulus from the European Central Bank, and Japan dropping interest rates to negative numbers spurred stocks higher toward the end of the month, but not enough to lift each of the indexes listed here out of negative territory year-to-date.  The Russell 2000 and Nasdaq still have the most ground to make up to get to even, while the large-cap Dow and S&P 500 are about 5.0% off their values at the end of 2015.

The close of January saw bond prices rise as yields fell, evidenced by the 10-year Treasury yield which dropped below 2.0%.  The price of gold (COMEX) increased by month's end, selling at $1,118.40 -- about $58 higher than December's end-of-month price of $1,060.50.

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Market Month January 2016


Volatility may best describe the equities markets for the majority of 2015, as they were impacted by economic stress in China and Greece, coupled with underwhelming corporate earnings reports, falling oil prices, and terrorist attacks here and abroad.  While some economic sectors, such as housing and labor, offered favorable news, others, including exports and wages, showed little in the way of positive movement.  Nevertheless, despite inflation running below the Fed's target rate of 2.0%, there were enough signs of overall economic growth to prompt the Federal Open Market Committee to raise interest rates in December for the first time since 2006.

Of the indexes listed here, only the Nasdaq posted a year-on-year gain.  Not even a fourth quarter rally could bring the other indexes into positive territory for the year.  Nevertheless, the fourth quarter saw gains in large caps as the S&P 500 finished up 6.45%, while the Dow closed the quarter up 7.0%.  Even the Global Dow gained a little over 4.0% for quarter.

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Year end market review

Year-End Tax Planning Basics

The window of opportunity for many tax-saving moves closes on December 31, so it's important to evaluate your tax situation now, while there's still time to affect your bottom line for the 2015 tax year.

Timing is everything

Consider any opportunities you have to defer income to 2016.  For example, you may be able to defer a year-end bonus, or delay the collection of business debts, rents, and payments for services.  Doing so may allow you to postpone paying tax on the income until next year.  If there's a chance that you'll be in a lower income tax bracket next year, deferring income could mean paying less tax on the income as well.

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Tax Planning

The Markets

November saw equities markets follow October's gains, although not nearly at the same pace.  Amid favorable jobs reports, moderate GDP growth, and increased consumer income, coupled with an apparent easing of economic concerns in China, conditions appeared ripe for a strong November in equities trading.  However, the major indexes listed here saw gains that can be described as pedestrian at best.  Possibly shaken by the terrorist attacks in Europe, investors socked money away at a pace not seen since 2012.  Nevertheless, positive gains were achieved in both the Dow and S&P 500.  The Nasdaq advanced almost 55 points, while the Russell 2000 jumped a little over 3.0%.  Of the indexes listed, only the Global Dow lost value by the end of November.

At the close of November, the price of gold (COMEX) was $1,064.00 more than $77 lower than October's end-of-month price of $1,141.70.  Crude oil (WTI) prices remained below $45 a barrel, selling at $41.68 a barrel by month's end.

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Market Month: November 2015