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What's some good news from your life?
It doesn't have to be big news.
- Have you had a really good meal with loved ones?
- Celebrated a milestone?
- Read a really good book?
- Completed the Pole Pedal Paddle race last weekend? (read below to hear about our good news from the race)
We ask because we want to take a moment to savor it with you.
We think the practice of appreciating the good things is essential when we're bombarded with news all day.
Here's what we’re seeing in the headlines:
- Markets are volatile.
- The economy is slowing down.1
- Many Americans are feeling pessimistic.2
Experiment: If you click over to your news of choice, what's the balance between good news and bad?
We would bet that you find mostly negative headlines.
It's easy to get sucked in by negativity. Bad news is everywhere.
It's logical to want to batten down the hatches and prepare for the worst. To give in to pessimism. But are we leaving enough room to appreciate what's good right now?
Take the economy, for example. Inflation fell for the tenth month in a row in April.3
That still means prices are higher, but if we look deeper into the data, we’ve got some small victories to celebrate. Certain categories have even seen major price decreases over the last year.
We don’t know about you, but we’re pretty happy to be paying around 18% less at the pump than we did 12 months ago.4
Here’s another bright spot: despite the slowing economy, unemployment is still near historic lows, and more folks are re-entering the workforce.5
Those are wins right now. Let's take a moment to appreciate them.
We don't know what will happen in the future. Many things will be different even a month from now.
We've been caught in a maelstrom of uncertainty and scariness over the last few years. But we're still here. Because we're strong and resilient, and that's fantastic news.
When the world looks uncertain and scary (and it often does), we recommend focusing on what's good right now. And remembering that we’re people who know how to thrive.
So, what's some good news in your life? Will you hit "reply" and share it with us? We’d like to savor it with you.
Optimistically,
Your Eagle Wealth Team
P.S. Want to learn more about why optimism is so powerful? Check out this TED talk.
Eagle Wealth Places 3rd in Pole Pedal Paddle
We’re thrilled to report that Team Eagle Wealth earned 3rd place in the business category at this year’s Pole Pedal Paddle, and 66th overall (out of 586 entries) with a time of 2 hours, 30 minutes and 9 seconds.
Costumes are encouraged at this race, so thanks to Mat Hunnicutt’s great idea, the team sported custom socks featuring an image of Chad racing last year, sprinting to catch a woman in a tutu at the finish line.
After being teased relentlessly about "the woman in the tutu", Chad was a good sport and wore a tutu for the race this year (borrowed from his daughter). Click here to watch Chad cross the finish line for Team Eagle Wealth!
Congratulations to our racers – Hung, Mat, Matt, Ian, Brody, and Chad!
The Week on Wall Street
Stocks were mixed last week as good inflation news was offset by mounting debt ceiling concerns and rekindled regional banking fears.
The Dow Jones Industrial Average lost 1.11%, while the Standard & Poor’s 500 slipped 0.29%. The Nasdaq Composite index rose 0.40% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 0.67%.1,2,3
Uncertainty Weighs On Stocks
The week got off to a quiet start as investors waited on April’s two key inflation reports scheduled for release on Wednesday and Thursday. When consumer prices rose less than forecasted, stocks broke out of their lethargy and moved higher. Stocks also got a boost on Wednesday afternoon from comments from the White House, hinting at an opening for negotiation on the debt ceiling.
Despite a substantial cooling in producer price increases, stocks turned mixed on Thursday amid a disappointing earnings report from a Dow Industrial component and new data that reignited investor anxiety over regional banks’ financial health. Stocks ended the week the way they began, largely drifting in an otherwise directionless fashion.
Inflation Pressures Ease
Consumer prices rose 4.9% year-over-year, the tenth consecutive month that the headline inflation rate has declined. This was a slight improvement over March’s 12-month increase of 5.0%. April’s monthly inflation rate was 0.4 percent, above March’s 0.1 percent rise. April’s increase was driven by higher housing, gasoline, and used car costs.4
Inflation progress extended into wholesale prices, which rose 0.2% in April–below the consensus forecast of a 0.3% rise. For the last twelve months, producer prices increased 2.3%, an improvement from last month’s 2.7% year-over-year gain and the lowest recording since January 2021.5
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THE WEEK AHEAD
KEY ECONOMIC DATA
Tuesday: Retail Sales. Industrial Production
Wednesday: Housing Starts
Thursday: Existing Home Sales. Index of Leading Economic Indicators. Jobless Claims
Source: Econoday, May 12, 2023
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
COMPANIES REPORTING EARNINGS
Tuesday: The Home Depot, Inc. (HD)
Wednesday: Cisco Systems, Inc. (CSCO), Target Corporation (TGT), The TJX Companies, Inc. (TJX)
Thursday: Walmart, Inc. (WMT), Applied Materials, Inc. (AMAT), Ross Stores, Inc. (ROST)
Friday: Deere & Company (DE)
Source: Zacks, May 12, 2023
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
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Disclosures and Footnotes
Any companies mentioned are for informational purposes only, and this should not be considered a solicitation for the purchase or sale of their securities. Any investment should be consistent with your objectives, time frame, and risk tolerance.
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1. The Wall Street Journal, May 12, 2023
2. The Wall Street Journal, May 12, 2023
3. The Wall Street Journal, May 12, 2023
4. The Wall Street Journal, May 10, 2023.
5. CNBC, May 11, 2023
Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.
The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.
The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.
The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.
U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.
International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.
Please consult your financial professional for additional information.
This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security. Copyright 2023 FMG Suite.
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