Hello,

Did you celebrate Earth Day last week?  

The idea for Earth Day was conceptualized by Senator Gaylord Nelson in the 1960s to raise awareness about ecological issues.  The first Earth Day was April 22, 1970, where millions of Americans advocated for a healthier, greener planet. 
 

Today, Earth Day is a global event, with people from around the world coming together to demonstrate their commitment to environmental protection and sustainability.  It’s a reminder to make conscious choices about little things that can make a big impact. 

Here are a few ideas to get started:

•    Go Paperless:  Many companies (like us) now offer paperless billing and statements, which is very convenient. Going paperless not only saves space but also saves you time on filing or shredding documents. And for businesses, it can cut down on paper and postage costs, possibly even reducing the need for extra staff to handle all that paperwork.

•    Be Energy Conscious:  Look for appliances that are energy efficient and smart thermostats to reduce electricity consumption.  Proper insulation and sealing drafts around windows and doors can also lower heating and cooling costs.

•    Plant Trees or a Garden: Trees are amazing for the environment! They produce oxygen, soak up carbon, and provide homes for wildlife. And growing your own garden is a fantastic way to reduce your carbon footprint by decreasing food miles and packaging waste.

•    Reduce, Reuse, Recycle:  By cutting down on waste, reusing items, and recycling materials like paper, glass, plastic, and metal, we conserve resources and minimize pollution, all while diverting garbage from landfills.

•    Support a local Farmer’s Market:  Buying locally grown produce helps cut down on transportation emissions and boosts local farmers and economies. 

•    Have a “Clean Up” Mindset:  If you spot litter that didn’t quite make it to the wastebasket, pick it up and put it away.  It’s a small step, but it adds up and helps keep our communities clean and healthy for everyone.

Whether or not you mark Earth Day on your calendar, take a moment to appreciate the beauty around you. By integrating these eco-friendly practices into your daily life, you're helping pave the way for a sustainable and prosperous future for generations to come.

Until next week,

Your Eagle Wealth Team

The Week on Wall Street

Stocks staged a choppy comeback last week as investors cheered positive earnings, led by mega-cap tech stocks. The rally came to pass despite fresh data showing a slowing economy and increasing inflationary pressures.
 

Stocks Bounce Back. Twice.

Last week opened with a rebound rally as investors breathed a sigh of relief that Middle East tensions had eased. The market rally extended into Tuesday, with investors cheering positive corporate earnings reports. By Tuesday's market close, the S&P 500 had gained 2% for the week.^1,2,3

But investor enthusiasm didn't last, as midweek saw profit taking in all three averages. Rising bond yields threw a wet blanket on market momentum; at one point, the yield on the 10-year Treasury note rose more than 40 basis points from its low earlier in the week.⁴

On Thursday, markets slipped on two fresh pieces of economic data: a Gross Domestic Product (GDP) slowdown and higher consumer prices. But by midday, selling pressure slowed. Stocks pushed higher on Friday behind upbeat Q1 reports from two mega-cap tech stocks, helping the S&P 500 and the Nasdaq post their best week since November.⁵

Earnings Vs. Inflation

Corporate earnings and economic reports battled it out last week. In the end, earnings won, at least for this week.

The big economic news was that Q1 GDP grew at a 1.6 percent annualized rate—slower than the 2.4 percent economists expected and less than Q4 2023. The GDP report seemed to support the Goldilocks economy theory—not too hot, but not too cool—a story investors have favored this year.

The PCE (personal consumption expenditures) Index, the Fed's preferred inflation gauge, was embedded within the GDP report. Excluding food and energy, it increased 2.8% from a year ago. It was unchanged from February and slightly higher than expected. It joined a growing list of factors pointing to an uptick in inflation, complicating the Fed’s interest rate decision.⁵

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. Source: YCharts.com, April 27, 2024. Weekly performance is measured from Monday, April 22, to Friday, April 26. ROC 5 = the rate of change in the index for the previous 5 trading days. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points. 

Footnotes And Sources

1. The Wall Street Journal, April 26, 2024

2. CNBC.com, April 22, 2024

3. CNBC.com, April 23, 2024

4. CNBC.com, April 24, 2024

5. The Wall Street Journal, April 25, 2024

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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.

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