Blog – Page 19

Market Week: April 6, 2020

The Markets (as of market close April 3, 2020) Stocks continued to rally at the beginning of last week amid hopes of enhanced testing for COVID-19. But by the end of the day Wednesday stocks slid, with the S&P 500 and Nasdaq posting their largest single-day declines since March 18. Energy shares in particular were hit hard. The Dow fell 4.4% and the small caps of the Russell 2000 continued to collapse, dropping over 7.0% on Wednesday. Economically, the virus is overwhelming the job market, … [Read more...]

Holding Equities for the Long Term: Time vs. Timing

Legendary investor Warren Buffett is famous for his long-term perspective. He has said that he likes to make investments he would be comfortable holding even if the market shut down for 10 years. Investing with an eye to the long term is particularly important with stocks. Historically, equities have typically outperformed bonds, cash, and inflation, though past performance is no guarantee of future results and those returns also have involved higher volatility. It can be challenging to … [Read more...]

Due Date for Federal Income Tax Returns and Payments Postponed to July 15

Tax deadline for most individuals: Wednesday, July 15, 2020 Due to the coronavirus pandemic, the due date for filing federal income tax returns and making tax payments has been postponed by the IRS from Wednesday, April 15, 2020, to Wednesday, July 15, 2020. No interest, penalties, or additions to tax will be incurred by taxpayers during this 90-day relief period for any return or payment postponed under this relief provision. The relief applies automatically to all taxpayers, and … [Read more...]

Quarterly Market Review: January-March

The Markets (first quarter through March 31, 2020) The world's economies and stock markets have been rocked by the spread of COVID-19. Investors' fears prompted a major sell-off in February and March, plunging stocks well below their 2019 closing marks. Nevertheless, 2020 started off in a positive way. Following a strong 2019, stocks were slow to move forward as investors cashed in some of their 2019 gains. But by mid-January, each of the benchmark indexes were safely ahead of their 2019 … [Read more...]

Market Week: March 30, 2020

The Markets (as of market close March 27, 2020) Stocks opened the week as they closed the previous one — in a tailspin. However, aggressive moves by the Federal Reserve late in the day, coupled with the hope of a massive aid package from Congress, helped push stocks higher during early trading Tuesday. News of the passage of massive stimulus legislation (see below) was enough of a positive impetus to send investors back to the markets in droves on Tuesday. The Dow surged to its highest … [Read more...]

Market Week: March 23, 2020

The Markets (as of market close March 20, 2020) Following the Fed's latest interest rate cut last weekend, stocks opened markedly lower on Monday, prompting the third circuit breaker in the last six sessions as trading was halted only seconds after the opening bell. By midmorning on Monday, the Dow had lost 8.5%, the S&P 500 slid 7.7%, and the Nasdaq fell 7.8%. By the end of the day, the Dow posted its worst percentage decline since 1987, the S&P 500 fell 12.0%, and the Nasdaq was off … [Read more...]

Eleven Ways to Help Yourself Stay Sane in a Crazy Market

Keeping your cool can be hard to do when the market goes on one of its periodic roller-coaster rides. It's useful to have strategies in place that prepare you both financially and psychologically to handle market volatility. Here are 11 ways to help keep yourself from making hasty decisions that could have a long-term impact on your ability to achieve your financial goals. 1. Have a game plan Having predetermined guidelines that recognize the potential for turbulent times can help … [Read more...]

Change in Business Hours and Practices in response to COVID-19

We have changed our business hours and practices in response to the COVID-19 health threat. We will answer phones between 9:AM and 5:PM Monday through Friday, and Saturdays from 9:AM until 3:PM. We have reduced our staffing levels to allow for maximum workspace and are taking precautions to keep everyone safe, including working from home. As you may already know, we are no longer scheduling appointments and are transacting business by phone, e-mail, and fax. We have a secure drop-box … [Read more...]

Market Week: March 16, 2020

The Markets (as of market close March 13, 2020) While the hope may have been that it couldn't get worse, unfortunately, it has. The coronavirus has not only posed a significant health threat to millions of people worldwide, but its impact has been felt economically and in the stock markets, both here and globally. Last Wednesday, the World Health Organization officially designated the coronavirus outbreak a pandemic, having reached more than 100 countries and more than 100,000 reported … [Read more...]

How we are responding to the COVID-19 health threat

We are still OPEN for business. We’ve changed our process for filing your tax returns. Dear Friend, If your 2019 tax returns have already been completed and filed, you can choose to ignore what follows. It concerns folks with tax returns that have not yet been completed by Erb Financial. It’s hard not to turn on the radio or talk with friend without the coronavirus becoming the main topic. It’s on everyone’s mind. Erb Financial has decided to … [Read more...]