“If you pick up an unwanted robocall, hang up right away. Avoid answering "yes" or "no" questions, providing personal information, or pressing a number to "opt out," since scammers often use these tricks to identify and target "live" respondents, resulting in additional calls.” Whether at home, work or on a cell phone, it's a scenario many Americans have found themselves in: answering a phone call only to find out it's from an unwanted robocaller. In fact, the number of unwanted robocalls in … [Read more...]
Market Week: May 11, 2020
The Markets (as of market close May 8, 2020) Investors continue to move toward stocks despite unfavorable economic data. New scientific and medical developments in the battle against COVID-19 offer hope. Last Monday saw stocks rebound from losses earlier in the day to close on a high note. Surging oil prices gave a boost to energy shares, which helped drive the market higher. Each of the benchmark indexes listed here closed Monday in the black. The stock market continued to rally on Tuesday. … [Read more...]
Small Businesses Eligible for Numerous Relief Programs During COVID-19 Crisis
Throughout March 2020, as it became increasingly evident that the economic impact from the COVID-19 pandemic would be both profound and prolonged, Congress passed several pieces of legislation with provisions to help small businesses shore up their coffers and keep employees on the payroll. Within a few weeks, initial funding for the two cornerstone programs, the Paycheck Protection Program and the Economic Injury Disaster Loan program, ran dry. Many of the nation's small businesses discovered … [Read more...]
Federal Student Loan Borrowers Get Expanded Relief in CARES Act
“A new 6-month suspension period The massive economic stimulus legislation passed on March 27, 2020, in response to COVID-19 includes a new six-month automatic suspension of federal student loan payments, with no interest accruing during this period. The six-month period ends on September 30, 2020.” On March 27, 2020, Congress passed the CARES Act, the largest economic stimulus bill in the history of the United States, in response to the coronavirus pandemic.1 Included in the … [Read more...]
Market Month: April 2020
The Markets (as of market close April 30, 2020) April began on a sour note for stocks as each of the indexes listed here lost value. Economic reports reflected the negative impact of the COVID-19 pandemic. There were more than 700,000 jobs lost in March while total claims for unemployment insurance benefits soared to nearly 18 million. A cut in production didn't prevent crude oil prices from hitting negative numbers as demand waned and storage neared full capacity. Purchasing managers saw … [Read more...]
Coping with Market Volatility: Continuing to Invest May Help You Stay on Course
“Try not to let short-term anxiety make you forget your long-term plan.” In the current market environment, the value of your holdings may be fluctuating widely — and it's natural to feel tentative about further investment. But regularly adding to an account that's designed for a long-term goal may cushion the emotional impact of market swings. If losses are offset even in part by new savings, the bottom-line number on your statement might not be quite so discouraging. And a basic principle … [Read more...]
Government Acts to Blunt Financial Impact of Global Pandemic
“The Federal Reserve moved swiftly in recent weeks to support the U.S. economy and help alleviate stress in the financial markets.” On March 11, the novel coronavirus (COVID-19) was officially declared a global pandemic by the World Health Organization, and two days later President Trump declared a national emergency.1 The unknowns surrounding a new virus make it difficult to predict the potential human and economic toll, but unprecedented steps are being taken to help slow the spread of the … [Read more...]
Coping with Market Volatility: Cash Can Help Manage Your Mindset
“Consider how a cash position could enhance your ability to make thoughtful investment decisions.” Holding an appropriate amount of cash in a portfolio can be the financial equivalent of taking deep breaths to relax. It could enhance your ability to make thoughtful investment decisions instead of impulsive ones. Having a cash position coupled with a disciplined investing strategy can change your perspective on market volatility. Knowing that you're positioned to take advantage of a downturn … [Read more...]
Market Week: April 27, 2020
The Markets (as of market close April 24, 2020) The week started with stock indexes falling sharply on the heels of an historic plunge of crude oil into negative territory. The Dow dropped nearly 600 points and more than 2.4% by Monday's close. Minimal demand sent the prices for crude oil (CL=F) to -22.02 per barrel — down 222.06%. Stocks continued to tumble on Tuesday as oil prices remained historically low. Each of the benchmarks listed here lost at least 2.3%, with the Nasdaq losing close … [Read more...]
Watch Out for Coronavirus Scams
“The FTC has received over 20,000 COVID-19 related complaints since January 1, 2020. Source: Federal Trade Commission, April 2020” Fraudsters and scam artists are always looking for new ways to prey on consumers. Now they are using the same tactics to take advantage of consumers' heightened financial and health concerns over the coronavirus pandemic. Federal, state, and local law enforcement have begun issuing warnings on the surge of coronavirus scams and how consumers can protect … [Read more...]
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