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The Financial Realities of Elder Care & Long-Term Care Insurance
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The benchmark indexes enjoyed a solid August, with the S&P 500 and the Nasdaq reaching record highs multiple times during the month. In fact, the S&P 500 recorded its seventh straight monthly advance — its longest streak of monthly gains since January 2018. Each of the benchmarks is well ahead of its 2020 year-end value, led by the S&P 500, followed by the Nasdaq, the Global Dow, the Dow, and the Russell 2000. Ten-year Treasury yields increased and crude oil prices fell, while the dollar and gold prices inched higher.
Stocks climbed higher in August, despite a drop in consumer confidence amid the spread of the Delta variant and the possibility of travel restrictions. Growth and technology shares outperformed cyclicals. Each of the market sectors gained, with only the energy sector sliding lower. Financials and communication services advanced the most.
Federal Reserve Chair Jerome Powell may have done enough to help calm investors' concerns by promoting the idea that interest rates will remain at their current level for some time, although a reduction in the bond-buying stimulus program may begin before the end of the year. Inflationary pressures continued to rise as prices at the consumer and producer levels increased in July.
Second-quarter GDP showed the economy expanded by nearly 7.0%. Sales of existing and new homes advanced, as prices for new single-family homes rose, while prices for existing homes slid. Industrial production increased. Close to 1.0 million new jobs were added in both June and July, while the unemployment rate and the number of unemployment claims fell.
MARKET/INDEX | AS OF 8/31 | PRIOR MONTH | 2020 CLOSE | MONTHLY CHANGE | YTD CHANGE |
---|---|---|---|---|---|
DJIA | 35,360,73 | 34,935.47 | 30,606.48 | 1.22% | 15.53% |
NASDAQ | 15,259.24 | 14,672.68 | 12,888.28 | 4.00% | 18.40% |
S&P 500 | 4,522.68 | 4,395.26 | 3,756.07 | 2.90% | 20.41% |
RUSSELL 2000 | 2,273.77 | 2,226.25 | 1,974.86 | 2.13% | 15.14% |
GLOBAL DOW | 4063.77 | 3,981.32 | 3,487.52 | 2.07% | 16.52% |
FED. FUNDS | 0.00%-0.25% | 0.00%-0.25% | 0.00%-0.25% | 0 BPS | 0 BPS |
10-YEAR TREASURIES | 1.30% | 1.23% | 0.91% | 7 BPS | 39 BPS |
US DOLLAR-DXY | 92.67 | 92.14 | 89.84 | 0.58% | 3.15% |
CRUDE OIL-CL=F | $68.51 | $73.81 | $48.52 | -7.18% | 41.20% |
GOLD-GC=F | $1,817.50 | $1,816.70 | $1,893.10 | 0.04% | -3.99% |
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); http://www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates). News items are based on reports from multiple commonly available international news sources (i.e. wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indices listed are unmanaged and are not available for direct investment.
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