Tech Leads Rally
An absence of further bad news in the banking sector made for a good week, with high-quality technology and communication services stocks leading the market. While easing banking worries laid the groundwork for the week’s positive gains, growing conviction that Fed rate hikes were ending and positive inflation data out of Europe helped support the renewed enthusiasm for stocks
Inflation Grinds Lower
In an otherwise news-light week, Friday saw the release of February’s personal income and outlays report, which provides insight into inflation and consumer expenditures, the dominant contributor to economic growth.
The Personal Consumption Expenditures Price Index (PCE), the Fed’s preferred measure of inflation, rose 0.3% for the month, below market expectations and below the prior month’s 0.6% jump. The year-over-year increase of 5.0% improved from January’s rise of 5.3%. Energy prices declined, partially offsetting increases in food, goods, and services. Personal income rose 0.3%, while consumer spending increased 0.2%.1
Fed Attempts to Calm Markets
Jerome Powell is a man of his word. And the financial markets believe that's an excellent trait for the Federal Reserve Chairman.
Powell told the financial markets to prepare for a 25 basis points increase in short-term rates in early February following the Federal Open Market Committee's (FOMC) March meeting. And that's what he delivered.
But despite his best efforts at transparency, the markets keep thinking, "maybe he will say something different this time."
The accompanying chart shows how stock market volatility increased in 2022 during Powell's press conference immediately following the FOMC's official meeting. This trend has continued into 2023.
At this point, we anticipate that the stock and the bond market in 2023 will continue to be volatile during Powell's press conferences. Market volatility can test the most seasoned investor's mettle. However, we still remain optimistic in the long term value of being a diversified investor.
TD Ameritrade/Schwab Merger - What you need to know.
Schwab and TD Ameritrade are becoming one entity. As we move forward together, we'll be here to support you and answer your questions about the transition.
What's happening and how it affects you:
- Your relationship with GTS Financial will not change.
- This transition only affects your TD Ameritrade accounts if you have them. If you have accounts at American Funds, Nationwide or Schwab, they will remain where they are.
- Your account will move from TD Ameritrade Institutional to Schwab in 2023 – tentatively scheduled for the beginning of the third quarter (September).
- Schwab will automatically transfer your assets and holdings—there is nothing you need to do.
- After the move, you will have access to Schwab Alliance, their secure online client portal. Schwab Alliance makes it easy for you to view your accounts. This will replace your TD Ameritrade Advisorclient.com portal.
- You will have a new Schwab account number. Any recurring contribution or disbursement instructions set up at TD Ameritrade will transfer over.
Get Ready.
- Set up your AdvisorClient credentials.
Go to advisorclient.com to set up your login ID and password. This is the easiest way to view your accounts and balances and to get access to Schwab Alliance. You will need your cell phone and at least one account number. If you run into challenges with this, please call us at 952-222-8286. We can help!
- Already have AdvisorClient credentials?
You will be prompted to create a Schwab Alliance Login ID and password closer to the transition date for your account(s). You will see your advised account information from TD Ameritrade on the Schwab platform as soon as your account transfers.
If you have not set up your Advisorclient.com log in by April 28th, we will be reaching out to you.
Be in the know.
Click HERE to view the transition timeline on the Schwab Client Learning Center and have access to additional information and Frequently Asked Questions about many topics such as About the transition, Account history & documents, Statements and Security, etc.
Healthy Living - Two Delicious Juicing Recipes
Juicing is a fantastic way to add extra fruits and veggies to your diet. Some people might be hesitant to start juicing because they don’t have a juicer at home, but you can also make some delicious juice recipes in a blender. The two recipes featured here come from A Couple Cooks.
Green Juice
Ingredients:
Celery
Cucumber
Apple/Pineapple/Orange/Lemon
Spinach/Kale
Instructions:
Blend all the ingredients on high until pureed and smooth. Add 1 cup of ice and blend again. Strain. Add water and blend again before straining if your juice is too thick.
Carrot Juice
Following the same instructions as the green juice, try these ingredients to make a delicious carrot juice:
Carrots
Apple
Orange
Lemon
You can add ginger, turmeric, or even garlic to give your juice more flavor and kick.
Tip adapted from A Couple Cooks
Mindset - The Four Agreements
The Four Agreements: A Practical Guide to Personal Freedom is a self-help book by Don Miguel Ruiz that presents practical steps and tools to help readers achieve personal freedom, happiness, and fulfillment. The book is based on ancient Toltec wisdom and offers a roadmap to spiritual enlightenment and personal transformation.
The central thesis of the book is that the four agreements: Be impeccable with your word, Don't take anything personally, Don't make assumptions, and Always do your best, can help individuals break free from limiting beliefs and self-defeating thought patterns. The book encourages readers to adopt these agreements as a way of life, leading to the development of greater self-awareness, authenticity, and improved relationships with others. The Four Agreements has become an international bestseller and is widely regarded as a classic in the self-help genre.
Amazon reviewer JDA said: "This is a book about LIFE! I recommend every single person to read this book. Because we ALL assume. We ALL take things personal. We ALL….well….go and read the book to find out the rest!! It’s soooooo good!"
Find this book on Amazon.